Payment mechanism of SOCAR optimized

Mechanism regulating relations under the fulfillment of the State Oil Company of Azerbaijan Republic (SOCAR) of its commitments on state programs and international projects at the expense of domestic resources as well as commitment on overdue and overpaid taxes of its structural units is optimized in Azerbaijan, the order of the cabinet of ministers said.

According to the order of the cabinet of ministers from Dec.30, 2011, tax arrears of an enterprise which is part of SOCAR, on the basis of its appeal, may be offset at the expense of overpaid tax payments to the budget from another SOCAR enterprise. The ministry of taxes is instructed to solve all the questions related to this order. The order comes into force from the day of signing.


/Trend/