Compulsory medical insurance fees update in Azerbaijan

Based on the application of the State Agency for Compulsory Medical Insurance, the budget details for compulsory medical insurance fees have been updated to facilitate the timely and full transfer of contributions to the respective funds.

According to Azernews, the Ministry of Economy, together with the State Tax Service, has released information on this matter.

The amount of fees on compulsory medical insurance (CMI) per capita in Azerbaijan is envisaged to be 122.94 manat ($72.32) in 2024.

This is stated in the conclusion of the Accounts Chamber of Azerbaijan on the draft law "On State Budget for 2024".

The mentioned figure is an increase in accordance with the projected consumer price index at the end of 2023 at 9.5 percent.

The revenues of the state budget of Azerbaijan for 2024 will amount to 34.1 billion manat ($20 billion), expenditures - 36.7 billion manat or $21.5 billion (including centralised revenues - 33.3 billion manat or $19.5 billion, local revenues - 773.1 million manat or $454.7 million, centralised expenditures - 35.9 billion manat or $21.1 billion, and local expenditures - 782.4 million manat or $460.2 million).

According to the information, details of the updated requisites have been posted on the institution's website.

You can familiarize yourself with the updated budget details for compulsory medical insurance fees by following the link below:

https://www.taxes.gov.az/az/page/budce-rekvizitleri-barede-melumatin-verilmesi