North Korean insurance companies release data pointing to growth in economy
Three of DPRK’s four smaller insurers showed significant growth, highlighting changes to regime’s taxation approach
North Korea’s four smaller insurance companies have once again released new data on their annual performance results, and the latest available figures point to significant growth that likely bodes well for the country’s economy, as well as to interesting changes in the regime’s approach to taxation.
According to the data, Polestar Insurance Company only had to pay a 25% tax on its profits for 2022, lower than the 30% of three other small insurers and the 32.5% of the much larger Korean National Insurance Corporation (KNIC).
This change may point to a new economic strategy that
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