As of June 1 ,2023, the number of commercial institutions in Azerbaijan was 167,600 (+10.4%), 105,400 of which were active commercial institutions (+14%), Report informs, citing the State Tax Service under the Ministry of Economy.
As of the reporting date, 90.3% of commercial legal entities were LLC, 1.3% JSC, and 1.1% cooperative and etc.
As at the end of May, the number of active VAT payers in commercial organizations was 32,490, which means an increase of 15.3% compared to 1 year ago.
In January-May 2023, 6,945 commercial organizations passed state registration in the country. Of these, 88.3% are organizations with domestic investment, and 11.7% with foreign investment. 82.6% of commercial organizations are registered online. The share of e-registration of LLCs with local investments amounted to 94.3%. According to the new method of registration (ID card’s PIN code + mobile phone number), 928 LLCs with local investments have been registered.