From the beginning of 2015, the tax base in Azerbaijan increased by 7,114 subjects, the Ministry of Taxes told Turan.
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 office does not report the number of commercial legal entities registered and liquidated over the period. There are also no statistics on the contribution of new business entities into the state budget.
Since January 2008 the registration of commercial legal entities and individuals in Azerbaijan has been conducted by the Ministry of Taxes on the principle of "single window". In subsequent years, registration has been undertaken with the use of information technology. Information about the founders of commercial legal entities shall not be disclosed and it is considered confidential. ---08D
Economics
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Azerbaijan's tourism industry has shown marked signs of recovery and growth in the first nine months of 2024, underscoring the sector's resilience and adaptability in the post-pandemic landscape. As of September 2024, nearly 2.086 million foreign tourists visited Azerbaijan, a robust increase of 30.2% compared to the same period in 2022. The country witnessed a particularly strong performance in July 2024, with 271,591 tourists—a 21% rise from July last year.
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Freight traffic along the Trans-Caspian International Transport Route has shown a remarkable increase in the first nine months of 2024, bolstered by a concerted push from participating countries to enhance their transport corridors and logistical frameworks. The strategic corridor, which links Asia and Europe via the Caspian Sea, has seen cargo volumes surge by 2.7 times compared to the same period in 2022, highlighting its growing significance as a viable alternative to traditional trade routes.
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In September 2024, the prices of building materials in Baku increased by an average of 0.9% compared to the previous month, reflecting a stable yet slightly inflationary trend in the construction sector. This trend has been driven by a mix of local demand factors and fluctuations in import prices, particularly for materials such as timber and rebar.
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The British Islamic Trade Association and the Association of Food and Beverage Producers of Azerbaijan signed a Memorandum of Understanding (MoU) during the first Azerbaijan Halal Business and Tourism Forum (AZHAB Forum), held in Baku on October 8-9, 2024.
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