According to the financial statements of the 25 insurance companies operating in Azerbaijan, it can be concluded that 7 of them did not pay enterprise profit tax in 2015. In 2014, the number of such companies was 9, if you do not take into account the companies that left the market. That is, the number of companies that do not pay taxes reduced.
Five of the seven that did not pay the tax in 2015 did not pay it in 2014, either. These are Alfa Sigorta, Baki Sigorta, Bashak Inam, Gunay Sigorta and Amrah Sigorta. The other two companies, Azersigorta and International Insurance Company, paid the tax in 2014. Four companies unable to pay the tax in 2014 - AXA MBASK, Azerbaijan Senaye Sigorta, Buta Sigorta and Standard Insurance - paid the tax in 2015.
|
№
|
Insurance company
|
Enterprise profit tax paid in 2015 (AZN) |
Enterprise profit tax paid in 2014 (AZN) |
|
1 |
A Group JSC |
1 972 314.14 |
462 513.13 |
|
2 |
AXA MBASK JSC |
60 522.99 |
0.00 |
|
3 |
Alfa Sigorta JSC |
0.00 |
0.00 |
|
4 |
Ata Sigorta JSC |
680 293.17 |
285 939.12 |
|
5 |
Ateshgah Hayat JSC |
570 241.04 |
356 042.21 |
|
6 |
Ateshgah Sigorta JSC |
156 855.66 |
62 617.62 |
|
7 |
Azsigorta JSC |
4 342 447.98 |
3 711 168.07 |
|
8 |
Azersigorta State IC |
0.00 |
687 042.00 |
|
9 |
Azerbaijan Senaye Sigorta JSC |
1 170 208.48 |
0.00 |
|
10 |
Azergarant JSC |
79 536.32 |
144 045.05 |
|
11 |
Baki Sigorta JSC |
0.00 |
0.00 |
|
12 |
Bashak Inam JSC |
0.00 |
0.00 |
|
13 |
International Insurance Company JSC |
0.00 |
153 218.00 |
|
14 |
Buta Sigorta JSC |
83 918.69 |
0.00 |
|
15 |
Gunay Sigorta JSC |
0.00 |
0.00 |
|
16 |
Mega Sigorta JSC |
2 455 139.01 |
704 533.78 |
|
17 |
Pasha Hayat JSC |
3 916 288.14 |
1 147 957.17 |
|
18 |
Pasha Sigorta JSC |
4 292 766.40 |
2 334 070.16 |
|
19 |
Gala Hayat JSC |
577 066.95 |
660 070.29 |
|
20 |
Revan Sigorta JSC |
104 185.32 |
154 771.00 |
|
21 |
Standard Insurance JSC |
66 775.00 |
0.00 |
|
22 |
Khalg Sigorta JSC |
1 741 687.91 |
558 879.79 |
|
23 |
Gala Sigorta JSC |
15 239.79 |
45 615.00 |
|
24 |
Ipek Yolu Sigorta JSC |
1 257 361.25 |
1 013 211.69 |
|
25 |
Amrah Sigorta JSC |
0.00 |
0.00 |
|
|
Total |
23 542 848.24
|
12 481 694.08
|
The total amount of enterprise profit tax paid by the 25 insurance companies is over 23.5 million AZN. In 2014. this figure was about 12.5 million AZN. This means growth by 1.9 times.
Last year the largest tax was paid by Azsigorta - more than 4.3 million AZN. Approximately the same amount was paid to the budget by Pasha Sigorta. According to the amount of enterprise profit tax paid, then came Pasha Hayat (more than 3.9 million AZN), Mega Sigorta (about 2.5 million AZN) and A Group (about 2 million AZN).
In 2015 the lowest income tax was paid by Gala Sigorta - more than 15.2 thousand AZN. AXA MBASK paid about 4 times more - 60.5 thousand AZN. Standard Insurance paid about 67 thousand AZN. Azergarant paid about 80 thousand AZN. Buta Sigorta paid 84 thousand AZN.
|
№
|
Insurance company
|
Enterprise profit tax paid in 2015 (AZN) |
|
1 |
Azsigorta JSC |
4 342 447.98 |
|
2 |
Pasha Sigorta JSC |
4 292 766.40 |
|
3 |
Pasha Hayat JSC |
3 916 288.14 |
|
4 |
Mega Sigorta JSC |
2 455 139.01 |
|
5 |
A Group JSC |
1 972 314.14 |
|
6 |
Khalg Sigorta JSC |
1 741 687.91 |
|
7 |
Ipek Yolu Sigorta JSC |
1 257 361.25 |
|
8 |
Azerbaijan Senaye Sigorta JSC |
1 170 208.48 |
|
9 |
Ata Sigorta JSC |
680 293.17 |
|
10 |
Gala Hayat JSC |
577 066.95 |
|
11 |
Ateshgah Hayat JSC |
570 241.04 |
|
12 |
Ateshgah Sigorta JSC |
156 855.66 |
|
13 |
Revan Sigorta JSC |
104 185.32 |
|
14 |
Buta Sigorta JSC |
83 918.69 |
|
15 |
Azergarant JSC |
79 536.32 |
|
16 |
Standard Insurance JSC |
66 775.00 |
|
17 |
AXA MBASK JSC |
60 522.99 |
|
18 |
Gala Sigorta JSC |
15 239.79 |
|
19 |
Alfa Sigorta JSC |
0.00 |
|
20 |
Azersigorta State IC |
0.00 |
|
21 |
Baki Sigorta JSC |
0.00 |
|
22 |
Bashak Inam JSC |
0.00 |
|
23 |
International Insurance Company JSC |
0.00 |
|
24 |
Gunay Sigorta JSC |
0.00 |
|
25 |
Amrah Sigorta JSC |
0.00 |
For 16 of the 25 insurance companies it was able to determine the dynamics of enterprise profit tax payment. In 10 of them the payout increased, and in 6 decreased.
The highest rate of enterprise profit tax was at A Group – it increased by 4.3 times. There was an increase by 3.5 times at Mega Sigorta and 3.4 times in Pasha Hayat.
At two insurance companies, Azersigorta and International Insurance Company, enterprise profit tax decreased by 100%. At Gala Sigorta the budgetary deductions from profits decreased by 66.6%.
|
№
|
Insurance company |
Enterprise profit tax paid in 2015 (AZN) |
Dynamics compared with 2014 |
|
1 |
A Group JSC |
1 972 314.14 |
4.3 times |
|
2 |
Mega Sigorta JSC |
2 455 139.01 |
3.5 times |
|
3 |
Pasha Hayat JSC |
3 916 288.14 |
3.4 times |
|
4 |
Khalg Sigorta JSC |
1 741 687.91 |
3.1 times |
|
5 |
Ateshgah Sigorta JSC |
156 855.66 |
2.5 times |
|
6 |
Ata Sigorta JSC |
680 293.17 |
2.4 times |
|
7 |
Pasha Sigorta JSC |
4 292 766.40 |
83.9% |
|
8 |
Ateshgah Hayat JSC |
570 241.04 |
60.2% |
|
9 |
Ipek Yolu Sigorta JSC |
1 257 361.25 |
24.1% |
|
10 |
Azsigorta JSC |
4 342 447.98 |
17.0% |
|
11 |
Gala Hayat JSC |
577 066.95 |
- 12.6% |
|
12 |
Revan Sigorta JSC |
104 185.32 |
- 32.7% |
|
13 |
Azergarant JSC |
79 536.32 |
- 44.8% |
|
14 |
Gala Sigorta JSC |
15 239.79 |
- 66.6% |
|
15 |
Azersigorta State IC |
0.00 |
- 100.0% |
|
16 |
International Insurance Company JSC |
0.00 |
- 100.0% |
|
17 |
AXA MBASK JSC |
60 522.99 |
- |
|
18 |
Alfa Sigorta JSC |
0.00 |
- |
|
19 |
Azerbaijan Senaye Sigorta JSC |
1 170 208.48 |
- |
|
20 |
Baki Sigorta JSC |
0.00 |
- |
|
21 |
Bashak Inam JSC |
0.00 |
- |
|
22 |
Buta Sigorta JSC |
83 918.69 |
- |
|
23 |
Gunay Sigorta JSC |
0.00 |
- |
|
24 |
Standard Insurance JSC |
66 775.00 |
- |
|
25 |
Amrah Sigorta JSC |
0.00 |
- |
Azerbaijan's only company engaged in re-insurance, AzRe, paid about 3.8 million AZN of enterprise profit tax in 2015. In comparison with the year 2014 it is 28.1% more.
|
1 |
AzRe Tekrarsigorta JSC |
3 816 152.13 |
2 980 151.41 |
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