Nobel Oil Services is pleased to announce that PROKON LLC, its EPC subsidiary, has been recognized as a “Transparent Tax Partner” by the Ministry of Taxes of the Republic of Azerbaijan.
The establishment of the “Transparent Tax Partnership” practice is a brand-new approach to deepen the partnership between taxpayers and the tax authorities and to achieve a new level of cooperation. The system primarily serves compliant taxpayers. The benefits of this system include shortened response times to taxpayers’ requests, cooperation with taxpayers to resolve any inconsistencies in declarations, and the provision of targeted services.
Taxpayers must meet a number of criteria to gain the “Transparent Tax Partner” status. Such taxpayers must first file their tax reports and pay their taxes in full and in a timely manner, properly report the number of employees and their salaries, possess a secure e-signature, and maintain their accounting records in line with international and local accounting standards. Taxpayers must not conduct any transactions with high-risk taxpayers and must not have been subject to economic criminal prosecution during the last three years.
PROKON LLC was established as a construction and project management subsidiary in 2012. The most recent projects of PROKON LLC include the construction of the SOCAR Ammonia & Urea Plant, tank erection works, and other industrial projects.