Oil & Gas Taxation in Azerbaijan
Article from: OGEL 3 (2004), in Taxation
Introduction
The taxation of oil and gas activities in Azerbaijan is largely regulated by a series of exploration, development and production sharing agreements ('PSAs') dealing with specific fields (mostly offshore though some agreements also deal with on-shore fields) and inter-governmental pipeline agreements relating to export pipelines ('EPAs'). Although the PSAs started life as ordinary commercial agreements, most have been passed into law. In addition, the Tax Code (the 'Code') applies to the extent that the PSAs and EPAs permit. This short article gives an overview of the general ...