Azerbaijan notes increase in number of taxpayers

As of April 1st, 2024, there were 1,537,952 taxpayers registered in the country's tax system, of which 87.3% were individuals and 12.7% were legal entities and other organisations, Azernews reports, citing the Tax Service under the Ministry of Economy.

Compared to the corresponding period of the previous year, the total number of taxpayers increased by 7.5%, including a 7.4% increase in the number of individuals (accounting for 86.5% of the total increase) and an 8% increase in the number of legal entities (accounting for 13.5% of the total increase). The special share of legal entities in the total number of taxpayers is 12.7%. The number of commercial entities amounted to 179,026 units, increasing by 8.7% compared to the corresponding period of 2023.

In January-March 2024, a total of 2,825 commercial entities were registered with the state, of which 2,544 (90.1%) were domestically invested and 281 (9.9%) were foreign-invested. Of the registered commercial entities, 2,198 (77.8%) were registered electronically, while 627 (19.3%) were registered on paper, with 738 of them (22.2% of the total registration) ensuring registration for VAT purposes.

The special share of e-registration of domestically invested limited liability companies registered in January-March accounted for 86.8%. Out of the 2,198 commercial entities registered electronically, 1,892 were registered with Asan Imza, and 306 were registered through new methods.

As of April 1st, 2024, the number of active VAT payers in the composition of commercial entities registered with the state amounted to 36,134 units, increasing by 14% compared to the corresponding period of 2023. The special share of VAT payers in the total registration is 31.5%.