Azerbaijani Banks Lower Tax Payments

Taxes Ministry does not disclose the amount of income tax, which is paid to commercial banks in the state budget. Only in December last year, the then Deputy Minister Natig Amirov said that for 11 months of 2015 the state budget from the profits of banks was higher by 35% than for the period 2014. At the same time, the Bank's financial statements for 2015, there is no growth in comparison with 2014. Only one bank increased tax payments, but to pay them the sum does not constitute a significant share of total tax revenues in the banking sector.

To date, 19 of the 37 banks announced details about how they are fulfilling their obligations to the budget. Six of them finished 2015 with a loss to themselves, for this reason, they did not pay income tax. The remaining 13 banks made various payments. Among them are appearing on the market in 2015, Caspian Development Bank and Ziraat Bank (Azerbaijan).

If you do not take into account the mentioned credit organizations, the market in 2014 from the current 35 banks were they not released the amount of income tax, which is paid just over four years. The remaining 31 banks issued a total of payments to the budget for 2014.

Not only the number of banks that have declared their tax payments, but also the amount of taxes paid by them decreased. There are 16 banks, of which the amount of tax payments for 2014 and 2015 is known. In three of them ("Azer-Turk Bank, Credobank and Yapi Kredi Bank (Azerbaijan) tax payments decreased by 100%, in ten banks decline is at different stages reduced the tax payment. There was 67.9% in Accessbank, in AFB Bank - 40,6%, Azerbaijan Industrial Bank - 30,5%, Expressbank - 75,1%, the National Bank of Iran (Baku branch) - 81,4%, Muganbank - 79,5%, PASHA Bank - 1,8%, Rabitabank - 22,3%, Turanbank"- 91,9%. Only Bank Avrasiya in 2015 compared to a year paid in 2014 17.5 times more taxes and the remaining two banks - Dekabank and Zaminbank did not pay income tax either in 2014 or in 2015..

 

 

 

 

 

Commercial bank

Profit tax in

2015  (000 AZN)

Profit tax in 2014 (000 AZN)

 

Dynamics

(2015/2014)

1

Accessbank

3 457,37

10 770,58

-67,9%

2

AFB Bank

755,87

1 273,00

-40,6%

3

AG Bank

Not announced   

998,79

-

4

Amrahbank”

Not announced  

 1 053,01

-

5

Atabank

Not announced   

Not announced 

-

6

International Bank of Azerbaijan 

Not announced   

7 923,00

-

7

Azerbaijan Senaye Bank

999,70

1 437,41

-30,5%

8

Azer-Turk Bank

0,00

411,00

-100,0%

9

Bank Avrasiya

71,80

4,10

+17,5 dəfə

10

Bank of Baku

Not announced   

11 782,00

-

11

Bank BTB

Not announced  

661,72

-

12

Bank Respublika

Not announced  

3 013,00

-

13

Bank Silk Way

776,97

Not announced   

-

14

Bank Standard

Not announced   

Not announced   

-

15

Bank VTB (Azerbaijan)”

Not announced  

90,00

-

16

Caspian Development Bank

2 111,66

Absent in the market

-

17

Dekabank

0,00

0,00

-

18

Demirbank

Not announced   

1 174,00

-

19

Expressbank

494,00

 3 316,00

-75,1%

20

Gunaybank

0,00

0,00

-

21

Khalg Bank

Not announced   

3 173,23

-

22

Capital Bank

Not announced  

17 227,00

-

23

Credo Bank

0,00

129,50

-100,0%

24

Baku Branch of the National Bank of Iran

7,71

41,41

-81,4%

25

Muganbank

291,30

1 422,54

-79,5%

26

Nakhchivanbank

Not announced 

Not announced   

-

27

NBC Bank

Not announced   

365,00

-

28

Nikoil Bank

Not announced  

1 856,00

-

29

Baku Branch of the National Bank of Pakistan

Not announced

20,23

-

30

Parabank

Not announced   

354,04

-

31

PASHA Bank

2 050,00

2 086,52

-1,8%

32

Rabitabank

912,00

1 174,00

-22,3%

33

Turanbank

117,96

1 457,00

-91,9%

34

Unibank

Not announced   

9 555,16

-

35

Yapi Kredi Bank (Azerbaijan)

0,00

1 827,00

-100,0%

36

Zaminbank

0,00

0,00

-

37

Ziraat Bank (Azerbaijan)

879,02

Absent in the market

-

 

Leave a review

Economics

Follow us on social networks

News Line