Over 20 insurance agents of Standard Insurance involved in investigation

Baku. 5 October. REPORT.AZ/ More than 20 insurance agents of Standard Insurance are involved in the investigation.

Report informs, insurance agents are questioned in the Department of preliminary investigation of tax crimes under the Ministry of Taxes.

Thus, the tax structure became suspicious about the forms of attracting a number of facilities to the insurance of Standard Insurance.

Standard Insurance noted that these structures were allegedly involved in the insurance by the insurance agents.

However, there are suspicions that the process was carried out not by insurance agents but JSC.

In case, if the insurance company attracts customers itself, it pays more taxes. However, if the client is attracted by an insurance agent, the amount of tax is reduced to 5 times.

JSC Standard Insurance is included in a group of companies AB Standard.

Standard Insurance was founded in February 2002 in the status of Limited Liability Company.

The son of former Minister of Economic Development Heydar Babayev Emin Babayev is a member of the Board of Directors of JSC Standard Insurance.