Reduced Time Required for State registration of commercial legal entity

The Ministry of Taxes has three times reduced the time required for the state registration of commercial legal entity. According to the information on the site, this is done in accordance with the order of the head of the ministry, Fazil Mammadov, according to which the corresponding administrative regulations and rules have changed.

According to the innovation, the period required for registration has been reduced from 3 to 1 days and for electronic registration valid for a maximum of 1-3 days it is also defined in one day.

Also introduced is a rule on the provision of an online-mode electronic certificate of commencing or canceling tax registration. The innovation came into effect from 20 February.

As of February 1, the number of registered taxpayers reached 616,242, which is 71,261 or 13% more than in the same period in 2014. The ministry does not monitor the causes of the closure of many newly formed companies.--17D-

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