Banks with reduced income tax payments

15:15 - 16.11.2023

November 16, Fineko/abc.az. 12 out of the 24 banks operating in Azerbaijan paid income tax for Jan-Sept 2023 and in eight of them this figure was higher against Jan-Oct 2022.

ABC.AZ reports that among them are Azər-Türk Bank, International Bank of Azerbaijan, Xalq Bank, Rabitabank, Bank Respublika, Bank of Baku and PASHA Bank, Yapı Kredi Bank Azerbaycan.

Three out the remaining four banks — Express Bank, Kapital Bank and Azerbaijan Industrial Bank, as well as Ziraat Bank Azerbaycan reduced income tax, and one bank – Naxçıvan Bank - paid income tax for the first 9 months of this year, but did not pay for the relevant term of 2022. So, it was not possible to calculate the dynamics of their tax payments.

11 banks that did not pay income tax for 9 months of this year also did not pay income tax for the 2022 same term. Therefore, it was also not possible to calculate the dynamics of tax payments of these banks.