Number of taxpayers in Azerbaijan reaches 1.66M

As of November 1, Azerbaijan had 1,660,182 registered taxpayers, Report informs, citing the State Tax Service under the Ministry of Economy.

According to the data, this figure is 4.8% higher compared to the same date last year. Of the total taxpayers, 86.8% are individuals, while 13.2% are legal entities and other organizations. Over the past year, the number of individual entrepreneurs increased by 4.5%, and the number of institutions, enterprises, and organizations rose by 7%.

By the end of October, the number of registered commercial entities stood at 202,088, up 7.7% from a year earlier. Among these, 91.9% are limited liability companies (LLCs), 1.1% joint-stock companies, 1.1% cooperatives, and the rest were established in other forms.

In the ten months of this year alone, 12,042 commercial entities were registered, 88.7% of which are local and 11.3% foreign-invested.

Overall, 84.9% of commercial entities were registered electronically. The share of e-registration among locally invested LLCs during the reporting period reached 96.3%.