Armenia`s insurance sector declined tax payments by 26.7% per annum  in the first half-year

ArmInfo. The insurance sector of Armenia paid taxes for 1.1 billion drams in the first half of 2018, which is lower by 26.7% than a year ago. Of this amount, 995.5  million drams fell on direct taxes (including income tax and income  tax), which is 28.9% higher than last year's figure. According to the  RA State Revenue Committee, in the list of 1000 largest taxpayers in  Armenia, according to the results of the first half of 2018, all 6  insurance companies operating on the market were included.

The list was headed by SC Rosgosstrakh Armenia, which took 212th  place (against 153rd year earlier), paying 360.7mln AMD to the state  budget, out of which 318.6mln AMD - on direct taxes (including income  tax and income tax). IC "Armenia" took the 267th place (compared to  141 a year earlier), replenishing the state budget by 287.4 million  drams, of which 262 million drams - on direct taxes. SC "Nairi  Insurance" - 486th place (against 256th year earlier), transferring  134mln AMD to the state treasury, incl. 117 million drams - profit  tax and income tax. Insurance Company "Armenia Insurance" - 519th  place (against 589th year earlier), paying 125.7 million drams, of  which 118 million - on income tax and income tax. RESO Insurance  Company - 633rd place (against 577th year before), paying 103.1mln  AMD, of which the amount of income tax and income tax amounted to  91.7mln AMD. IC "Sil Insurance" took 636th place (against 425th year  earlier), paying 102.5 million drams, of which the amount of income  tax and income tax was 88.3 million drams.

According to the Ranking of Insurance Companies of Armenia prepared  by ArmInfo, the total accumulated profit of the insurance sector of  Armenia by July 1, 2018 was 2.8 billion drams, having decreased by  41.7% 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 an indicator of 2.7  billion drams (annual growth of 4.5%), second place - Armenia  Insurance - 1.02 billion drams (annual decline of 46.2% ), the third  place - INGO Armenia - 1.019 billion drams (annual growth of 61.5%),  the fourth - SC "Nairi Insurance" - 569.04 million drams (annual  decline of 51.3%). The losses were accumulated by the IC "Sil  Insurance" and IC "RESO" - in aggregate over 2.4 billion drams. The  first half of 2018 was completed by the insurance sector with a  balance sheet profit of 696 million drams (annual decline of 32.3%),  after paying taxes with net profit of 443.2 million drams (annual  decline of 65.1%). According to net profit, the first three positions  are occupied by "Rosgosstrakh Armenia", "Armenia Insurance" and "INGO  Armenia".  (the calculated exchange rate of the dram to the dollar as  of 30.06.18 was 482.24 AMD/USD1).