Number of taxpayers in Azerbaijan increases

The total number of taxpayers increased by 6.1 percent, including the number of individuals by 5.6 percent, and the number of legal entities by 9.6 percent compared to the corresponding period of 2022, Azernews reports, citing the State Tax Service (STS).

STS said that as of May 1 of 2023, 87.3 percent of the 1 million 442 thousand 86 taxpayers registered in Azerbaijan were individuals, and 12.7 percent were legal entities and other organizations.

The number of state-registered commercial institutions was 166,000, of which 104,095 were active. A total of 90.2 percent of commercial legal entities are limited liability companies, 1.3 percent are joint-stock companies, 1.1 percent are cooperatives.

Compared to the corresponding period of 2022, the number of active commercial institutions increased by 13.9 percent. As of May 1, the number of active VAT payers in the state-registered commercial institutions was 32,500 units, which means an increase of 14.4 percent compared to the corresponding period of last year.