The rules for tax registration of individual entrepreneurs with the status of a natural person have been adopted, the Ministry of Taxes of Azerbaijan said. The document provides not only primary, but also the re-adoption of the registration and deregistration of this category of entrepreneurs.
As stated in the text on the page of a single portal of legal acts, the document provides the procedure for receipt of applications from business people with the status of an individual, their registration and reporting. Applications are not only on paper but also in electronic form.
Local tax authorities are required no later than 5 business days to notice this category on the adoption of tax registration. --17D-
Economics
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The new law on "Political Parties," adopted two years ago, came into effect early last year and has been criticized by the Venice Commission, is already making its impact felt. On December 4, the activities of two political parties—the Freedom Party and the Party of Free Democrats—were halted through court orders. The Ministry of Justice cited discrepancies in the documentation of these parties as the reason for its appeal to the court.
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In the first ten months of 2024, Baku's trade turnover registered a 4.4% increase compared to the same period last year, reaching a substantial 28.2 billion manat, according to the Baku City Statistics Department.
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In a significant move to bolster its financial capabilities, Azerbaijan's state-owned energy company SOCAR has signed an agreement with Italy's Intesa Sanpaolo bank. The pact, which underscores growing cooperation between the two entities, marks a step forward in securing financial resources for SOCAR's ambitious projects, including its ventures in green energy.
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In the first 11 months of 2024, Azerbaijan experienced a robust recovery in its tourism sector, with 2.41 million foreign and stateless individuals visiting the country, marking a 27.4% increase compared to the same period last year, according to the State Border Service. This growth reflects Azerbaijan’s increasing appeal as a travel destination, bolstered by diversification in source markets and improved transport infrastructure.
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