Azerbaijan records increase in number of registered taxpayers

Economy Materials 19 January 2023 15:56 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, January 19. The total number of taxpayers registered in Azerbaijan increased as of January 1, 2023, Trend reports citing the State Tax Service.

According to the service, this figure amounted to over 1.4 million, increasing by 5.2 percent compared to 2021. Of the total number of taxpayers, 87.3 percent are physical entities, and 12.7 percent - are legal entities and organizations.

The number of physical entities increased by 5.6 percent, while the number of legal entities – by 9.6 percent compared to 2021.

A total of 14,259 commercial organizations were registered in Azerbaijan from January through December 2022, which is 33.4 percent more than in the same period in 2021. Of these, 72.8 percent were registered electronically.

In addition, a total of 77.6 percent of registered commercial enterprises were companies with local investments, and 22.4 percent - with foreign investments.

Moreover, 1,848 LLC companies with local investments were registered using the new registration method (passport FIN code + mobile phone number) as of January 1, 2023, which is 32 companies more than in 2021.

Also, the number of legal entities that resumed their operations in Azerbaijan increased by 23.4 percent compared to 2021 - up to 9,001.