State power, gas companies owe most taxes
The state-owned power company, Azerenergy, along with Azerigaz, the
state-run gas supplier, owe the most taxes to the Azerbaijani
government, said Fazil Mammadov, Minister of Taxes.
He noted that these indebted state-owned companies primarily operate in the country`s utilities sector, and the two joint-stock companies` outstanding arrears stem from existing problems in the field.
"In particular, a low collection rate causes the emergence of debt," he said, but added that uncollected bills were on a downward trend owing to recent growth in collected funds.
Mammadov said SOCAR, the state energy firm had, in past years, the most debt owed to the state. However, the company managed to pay off all of its debts several years ago.
He noted that these indebted state-owned companies primarily operate in the country`s utilities sector, and the two joint-stock companies` outstanding arrears stem from existing problems in the field.
"In particular, a low collection rate causes the emergence of debt," he said, but added that uncollected bills were on a downward trend owing to recent growth in collected funds.
Mammadov said SOCAR, the state energy firm had, in past years, the most debt owed to the state. However, the company managed to pay off all of its debts several years ago.
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