VATupdate

Share this post on

44% Increase in the Number of Active VAT Payers’ Activities

  • The number of active VAT payers has increased by 44%.
  • In February 2024, there were 1,522,750 taxpayers, with 87.3% being individuals and 12.7% being legal entities and other organizations.
  • Compared to the previous year, the total number of taxpayers has increased by 8%, with a 8% increase in individuals and an 8.4% increase in legal entities.
  • In January 2024, 720 commercial entities registered with the state, with 66.1% applying electronically and 33.9% using paper applications.
  • Of the registered commercial entities, 87.2% were domestic investments and 12.8% were foreign investments.
  • The number of active legal entities has increased by 21.1% compared to the previous year, and the number of active VAT payers has increased by 44%.
  • 90.8% of registered commercial entities are limited liability companies, 1.3% are joint-stock companies, and 1.1% are cooperatives.
  • 76% of registered limited liability companies have used the e-registration system.
  • In January 2024, 73 domestic limited liability companies were registered using the new registration method (financial code + mobile number), accounting for 10.1% of total registrations and 11.7% of domestic limited liability company registrations.
  • Overall, 84.7% of electronically registered applications in January were submitted using Asan signature.

Source: taxes.gov.az

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

Sponsors:

VAT news
VAT news

Advertisements:

  • VATupdate.com