Azerbaijan, Baku, 16 January / corr Trend I.Khalilova / In 2007 the Azerbaijani Taxes Ministry held scheduled audits at five banks and is undergoing at one of them (Bank Standard), Sahir Mammadkhanov, the head of the Department for Services to Taxpayers with Special Tax Regimes, said.
So far, 16 banks and two non-bank credit organizations have been registered by the Department. By 20 January they will submit their financial reports on activities in 2007 to the tax bodies.
"Compared to previous years their profits have increased by the minimum of three to four times," Mammadkhanov said. If in 2006 profit tax payments by the International Bank of Azerbaijan (IBA) made up AZN 12mln, in 2007 they are expected to comprise AZN 30-35mln. A similar situation is observed on an increase of profits and respectively, tax payments are made by Kapital Bank, Azerigazbank, Texnikabank, Azerdemiryolbank, AtaBank, Bank of Baku, etc.
The Department will continue work with banks on execution of payment of taxes from debtors' bank accounts.