Since the beginning of the year (as of 1 September) the Ministry of Taxes of Azerbaijan in the on-line mode registered 40,483 physical persons engaged in individual business.
This kind of "light" registration was introduced on July 1 last year, but it gained popularity from the beginning of January this year. The peak of popularity of the services was achieved in H2. From July 1, they registered 10,080 entrepreneurs.
According to the official website of the Ministry, the total number of businesses and individuals registered in January-August is 49,406 people. In all, the total number of taxpayers (businesses) across the country is 462,110.
The on-line registration process is much easier for individuals who decide to engage in private business. In just a few minutes future entrepreneurs can claim intentions through the official information portal of the Ministry of Taxes, or local government.
At registration a unique code and encrypted password are given. Through this encrypted password in the future, they are able to provide tax returns electronically.
This registration system allows entrepreneurs to submit an application for registration from any location via the Internet. -17D-
Economics
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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
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