Azerbaijani Insurers Association prepares proposals for government to simplify taxation of insurance agents

Business Materials 6 June 2009 11:46 (UTC +04:00)

Azerbaijan, Baku, June 6 / Trend U. Ismayilova /

Azerbaijani Insurers Association intends to apply the government for insurance agents to get benefits on VAT hitting 18 percent now, the association executive director Gafar Mejidov said.

"It was made a decision to appeal the government at the meeting of supervision council of the association on June 4," Mejidov said. 

Earlier activity of insurance agents was not licensed in Azerbaijan. But activity of insurance agent was legalized upon the law Insurance activity adopted in March 2008. 

The Azerbaijani Ministry of Finance periodically conducts test examinations for candidates for insurance agent position upon the law. Next examinations will be held on June 9-10. 

Azerbaijani Insurers Association was established in December 2006. The association includes all operating insurers. Azerbaijani five insurance companies are represented in supervision council of the organization - MBASK, Standard Insurance, the International Insurance Company, Azersigorta, Ateshgah.

Do you have any feedback? Contact our journalist at [email protected]