Number Of Taxpayers In Azerbaijan Increases

As of August 1 this year, there were 1,562,960 taxpayers in Azerbaijan, representing a 6.3% increase compared to August 1 of the previous year, Azernews reports, citing the State Tax Service under the Ministry of Economy.

According to the information, 87.2% of these taxpayers were individuals, while 12.8% were legal entities and other organizations. Over the past year, the number of individuals increased by 6.1%, and the number of legal entities grew by 7.4%.

By the end of July, the number of registered commercial institutions was 183,528, reflecting an 8.1% increase from the previous year.

From January to July, 7,426 commercial institutions were registered in the country, of which 6,616 (89.1%) were domestically invested and 810 (10.9%) were foreign-invested. Of the state-registered commercial institutions, 5,985 (80.6%) were registered electronically: 4,832 with "Asan Imza," 1,140 with the new method (fincode + mobile number), and 13 through digital signatures using "SIMA."

As of August 1, the number of active VAT payers among state-registered commercial institutions was 38,101, marking a 15.7% increase compared to the same period last year. VAT payers made up 32% of the total registrations.

At that time, 91.1% of state-registered commercial legal entities were limited liability companies, 1.2% were joint-stock companies, and 1.1% were cooperatives, among other forms.

Compared to the corresponding period in 2023, the number of active commercial institutions increased by 11.2%.

MENAFN13082024000195011045ID1108548128