The State Oil Company of Azerbaijan (SOCAR) is expected to pay $1 billion in taxes to the state budget in 2023, which will make up 10.1% of budget revenues, Report informs, citing the opinion of the Chamber of Account on the Budget Envelope.
Moreover, the State Oil Fund of Azerbaijan (SOFAZ) will transfer $11.28 billion to the state budget. Profit taxes from the Production Sharing Agreements will amount to $492 million, from the export of Shah Deniz gas to $2.875 billion.
The oil price in the state budget was set at $50.