In Azerbaijan in the last 7 years (2008-2014), 421 136 businesses were registered on the "single window" principle.
As stated in the press release of the Ministry of Taxes, the majority of them (90.1% or 381,957) are individual entrepreneurs, while the remaining 39,179 are traders with legal status.
With the introduction of the system, 7,045 limited liability companies (LLC) with exclusively local capital (39.2% of all businesses with legal status) have been registered as taxpayers.
Business registration system on the principle of "single window" was introduced on January 1, 2008. Thanks to it, the process of registration of legal entities and natural persons engaged in commercial activities is carried out within a day or two by the Ministry of Taxes. But then the market includes either "patronized" companies or those created just for single operations. The Taxes Ministry does not publish reports on the causes of withdrawal of entrepreneurs "without a patron" from the market. --17D-
Economics
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The market for vegetable and animal fats in Azerbaijan is largely shaped by a structural dependence on imports, as domestic production remains insufficient to meet the country's growing consumption needs. This dependency is underscored by several economic factors, including limited agricultural production and a lack of processing facilities, leaving the sector ill-prepared to reduce reliance on foreign supplies.
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The INMerge Ventures venture capital fund has been established in Azerbaijan, aimed at boosting the development of the country’s innovative and startup ecosystems, officials announced on Tuesday.
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Azerbaijan is set to roll out a comprehensive digital economy development strategy in 2025, aimed at transforming the country's economy through human capital development, innovation, and the digitalization of business processes, an official announced on Tuesday.
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Issues related to the development of the energy sector through digital innovations were the subject of negotiations between Rovshan Najaf, President of SOCAR, and Seita Hagihara, President and Vice President of Yokogawa Electric Corporation, a leading Japanese multinational company specializing in electrical engineering and industrial automation.
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