Thursday, August 3 2017 14:08
Alina Hovhannisyan

Armenian insurance sector increases tax payments by 36.4% per annum in the first half-year

Armenian insurance sector increases tax payments by 36.4% per annum  in the first half-year

ArmInfo. The insurance sector  of Armenia paid 1.5 billion drams in the first half of 2017,  exceeding the figure of the previous year by 36.4%. Of this amount,  1.4 billion drams fell on direct taxes (including income tax and  income tax), which is 40% higher than last year's figure. According  to the RA State Revenue Committee, in the list of 1000 largest  taxpayers of Armenia, according to the results of the first half of  2017, all 6 insurance companies operating on the market were  included.

The list was headed by IC "INGO Armenia" which took 141st place  (against 218th year earlier), replenishing the state budget by  530.5mln AMD, out of which509.9 million drams - on direct taxes. The  Rosgosstrakh Armenia Insurance Company, which took 153rd place  (against the 210th year earlier), paid 454.7mln AMD to the state  budget, out of which 413.4mln AMD - on direct taxes (including profit  tax and income tax ). SC "Nairi Insurance" - 256th place (against  245th year earlier), transferring 248.7mln drams to the state  treasury, incl. 232.6 million drams - income tax and income tax. SK  "Sil Insurance" took 425th place (against 498th year earlier), paying  130mln AMD, from which the amount of profit tax and income tax  amounted to 112.3mln AMD. RESO Insurance Company - 577th place  (compared to 723th a year earlier), paying 95mln AMD, of which the  amount of profit tax and income tax amounted to 83.9mln AMD. "Armenia  Insurance" Insurance Company - 589th place (against 438th year  before), paying 93 million drams, of which 84.2 million - on income  tax and income tax.

According to the Ranking of Insurance Companies of Armenia, prepared  by the "ArmInfo" news agency, the aggregate accumulated profit of the  Armenian insurance sector reached 4.9 billion drams by July 1, 2017,  having increased by 21.8% year-on-year. By July 1, accumulated profit  was recorded in 4 out of 6 operating companies. The first place in  terms of accumulated profit was taken by Rosgosstrakh Armenia with a  2.8 billion drams (annual growth of 42%), second place - Armenia  Insurance -1.9 billion drams (an annual growth of 13.4%), third place  - Nairi Insurance - 1.2 billion drams (annual growth of 32.6%), the  fourth - INGO Armenia Insurance Company - 631.2 million drams Annual  decline of 17.3%). The losses were accumulated by Insurance Company  Insurance Company and RESO Insurance Company - in aggregate 1.6  billion drams. The first half of the year, 2017, the insurance sector  completed with a book profit of 1.6 billion drams (annual decline of  47.2%), which after taxes paid a net profit of 1.3 billion drams  (annual decline of 51.6%). According to net profit, the first three  positions are occupied by Rosgosstrakh Armenia, Nairi Insurance and  INGO Armenia. (The calculated exchange rate of the dram to the dollar  as of June 30, 17 was 480.47 dr / $ 1).

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