State Tax Service: $347 million of additional taxes collected from oil sector

Last year, the oil sector accounted for 590 million manats (+37.5%) of additional taxes collected in the state budget through the State Tax Service, said Deputy Chief of the State Tax Service under the Ministry of Economy Ilkin Valiyev, Report informs.

"When the budget for 2021 was approved, the average price was actually $ 71.4, even though the price of oil was set at $50. As a result, the already collected 590 million manats ($347 million) fell to taxpayers' share operating under production sharing agreements," he noted.