BAKU, Azerbaijan, January 15. The number of operating commercial institutions has increased by 9.4 percent in Azerbaijan, to 176,321, Trend reports via the country's State Tax Service.
The service's data showed that as of January 1, 2024, 87.3 percent of the 1.5 million taxpayers registered in the country were individuals (1.3 million), while 12.7 percent were legal entities and other organizations (192,845).
Besides, the total number of taxpayers increased by 8.2 percent, including the number of individuals by 8.1 percent and the number of legal entities by 8.8 percent year-on-year.
Earlier, as of January 1, 2023, 90.7 percent of the state-registered commercial legal entities were limited liability companies, 1.3 percent were joint stock companies, and 1.1 percent were cooperatives and other forms. The number of active VAT payers in the state-registered commercial organizations was 34,926, which meant an increase of 14.1 percent year-on-year.
The state registered 11,868 commercial organizations from January through September 2023, of which 87.2 percent had domestic investment and 12.8 percent had foreign investment.
Through the new registration method (passport FIN code and mobile phone number), 2,160 LLCs with local investments have been registered.
As of January 1, 2023, over 1.4 million taxpayers were registered in Azerbaijan.
