Only 4 out of 31 Azerbaijani banks operate due to transparent tax partnership

Baku. 9 October.REPORT.AZ Taxpayers list operating on the basis of transparent tax partnership disclosed in the “Green Corridor” section of the official website of Ministry of Taxes (www.taxes.gov.az) includes names of 4 out of 31 Azerbaijani banks.

Report informs these banks are "Accessbank", "Bank Respublika", "Ziraat Bank (Azerbaijan)” OJSCs and "Yapı Kredi Bank (Azerbaijan)” CJSC.

The situation with insurance companies is much more better. Therefore, 14 of 20 insurers included in the mentioned list. They are “AXA Mbask”, “A-Qroup Sığorta”, “Atasığorta”, “Atəşgah Həyat Sığorta”, “Atəşgah Sığorta, “Azərbaycan Sənaye Sığorta”, “Azsığorta”, “Bakı Sığorta”, “Xalq Sığorta”, “Qala Həyat Sığorta, “Meqa Sığorta”, “PAŞA Həyat Sığorta”, “PAŞA Sığorta” and “Silkway Insurance” OJSC.

The only reinsurance company in the country “AzRe Təkrarsığorta” OJSC is also a taxpayer operating on the basis of transparent tax partnership.

The list does not feature any non-bank credit organizations (NBCO). Only one credit union has been included in the list which is “Abbas Credit Union” LLC.

Moreover, investment companies in the financial market of Azerbaijan and Baku Stock Exchange CJSC  are not in the list of taxpayers operating on the basis of transparent tax partnership.

The list can be found at the following link http://www.taxes.gov.az/uploads/2017/sheffaf/sh09102017.pdf.