15:56 - 20.04.2023

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April 20, Fineko/abc.az. Insurance companies paid income tax in the amount of AZN 29.59 million. 

ABC.AZ reports that this is reflected in the report on the insurance sector. The indicator is 51.8% more against 2021. Eight out of 20 companies increased their tax payments, six ones reduced their tax payments, and four out of five companies that did not pay taxes in the previous year also did not pay taxes last year and 1 company did not pay taxes. One company saved on tax payments last year, while in the previous year it paid taxes.

The total net profit of Azerbaijan's insurers in 2022 amounted to AZN 74.37 million (3.1% more than in 2021). Eight companies that increased their financial profit last year also increased their net profit, four companies that reduced their financial profit also lowered their net profit, one company that increased their financial losses also increased its net losses, two companies that lowered their financial losses also reduced their net losses. Four companies that ended 2021 with profit ended 2022 with loss, and one company that ended the previous year with loss came out with profit last year.