Azerbaijani Finance Minister Releases Results of Insurance Companies’ Financial Activities
Azerbaijan, Baku / Trend / Azerbaijani Finance Ministry have released the results of the financial activities of insurance companies in 2006, the Finance Ministry reports.
According to the Ministry, premiums of Azerbaijani insurance companies made up AZN 90.45mln in 2006. Total income of the companies in 2006 comprised AZN 136.19mln, expenditures AZN 128.89mln with a balance sheet profit of AZN 7.3mln.
The profit income put towards the budget (AZN 1.5mln), to the capital reserves and funds (AZN 34,670), to the income fund (AZN 242,310), to the production fund (AZN 512,440), for charity (AZN 36,760) and for other purposes (AZN 899,570).
Payments to the budget - property-tax AZN 128,390 with actual payments of AZN 103,470, income-tax AZN 1.68mln (AZN 1.66mln), land-tax AZN 146.15 (AZN 280.43), VAT AZN 16,670 (AZN 10,080), profit-tax AZN 866,920 (AZN 880,840), other taxes AZN 1.47mln (AZN 1.57mln), economic sanctions AZN 4,230 (4,230).
Twenty-nine insurance companies are functioning in Azerbaijan.