Industry and Energy

Home page

Industry and Energy

State companiesâ€™ tax debt to budget makes up AZN 1.4B

22 May 2017 15:28 (UTC +04:00)

As of January 1, 2017 the tax debt amounted to AZN 860,589,800, of which AZN 193,047,200 are financial sanctions, AZN 380,812,400 – penalties.

According to the Chamber of Account, 97.6% or AZN 1,400,000,000 of the debts fell to share of non-state sector. Moreover, debts on oil sector increased 5.7%, on non-oil sector declined 41.2% in 2016.

State sector’s debts amounted to AZN 365,419,500 or 25.5% of total debts, private sector’s debts – to AZN 1,690,029,900 or 74.5%. In 2016 the state sector’s debts slid 68.8%, private sector’s debts slipped 13.9%.

The significant decline on state sector’s debt was recorded in Azerenergy OJSC. The OJSC’s debts decreased AZN 796,289,700 to AZN 3,506,200, as well as principal amount of the debt descended AZN 390,295,500.