Azerbaijan registers 30 percent of total taxpayers registered on-line

Roughly 30 percent of individuals has been registered in the tax authorities in on-line mode in Azerbaijan, the Taxes Ministry said on Wednesday. The Taxes Ministry began on-line registration of individuals engaged in entrepreneurial activities without establishing a legal entity for the first time since July 2011.

"About 30 percent of the total number of previous registration in the country (7,956 individuals) and about 23 percent in Baku (2,618 individuals) pass electronic registration during this period," a statement said.

Under the talks with the Central Bank on establishing an electronic payment system, the Taxes Ministry provided statistics on the number of transactions and amount of revenues, number of taxpayers, treasury bodies and budget classification. The Ministries of Taxes and Finance and the Central Bank have discussed the issues related to electronic payment of taxes and duties.

Primary proposals for amendments and changes to regulations related to the introduction of electronic registration of legal entities have been also prepared. Work is done on assessment of primary proposals and the final projects are developed.

According to Azerbaijan Taxes Minister Fazil Mammadov, the electronic registration of commercial entities in the tax authorities is expected to launch in Azerbaijan on Jan. 1, 2012.
After the introduction of the electronic registration of commercial entities it will be possible to obtain an individual identification number by applying online. This will contribute to improving the system of "single window" and improve the investment opportunities in Azerbaijan.


/Trend/