OREANDA-NEWS. April 15, 2010. The  Law on Exemption from Taxes of Income,  directed by the banks and the insurance companies of Azerbaijan to increase of capitalization.

Minister of Taxes Fazil Mammadov said that the banks and insurers took a decision on direction to capitalisation of profit in the amount of AZN 145 million to take advantage the law.

force of law has been limited with three years so far and profit for 2009 is the first, which can be capitalized without payment of taxes.

Nevertheless, in the first quarter of 2010 non-oil sector of economics provided AZN 548.5 million of taxes at forecast of AZN 536.6 million.