BAKU, Azerbaijan, April 11. A number of 433 companies passed online registration in 1Q2022 (1.15 percent less than in 1Q2021) in Azerbaijan, Trend reports with reference to State Tax Service under Azerbaijan’s Economy Ministry.
Share of electronic registration of limited liability companies (LLC) with local capital amounted to 87.2 percent in 1Q2022, State Tax Service said.
"Total of 433 companies were registered using this method of registration, its share in the general registration was 14 percent, and in the registration of LLC with local capital - 16.2 percent," State Tax Service noted.
Some 89.8 percent of registered commercial enterprises are companies with local investments, 10.2 percent - with foreign ones.
Some 88.9 percent of the registered commercial legal entities are LLCs, 1.5 percent - are joint-stock companies (JSC), 1.2 percent - are cooperatives, etc.
A total of 87.9 percent of 1.3 million taxpayers registered in Azerbaijan as of April 1, 2022, were individuals and 12.1 percent were legal entities. The total number of taxpayers increased by 9.7 percent compared to the same period in 2020, including individuals - by 9.9 percent, legal entities - by 7.8 percent.
Some 3,098 commercial organizations were registered in Azerbaijan in 1Q2022, which is 14.1 percent more than in the same period last year and 82.2 percent of these businesses were registered online.