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Tightening of Tax Base Leads to Outflow of Business Accounts
As of October 1, registered customers of local banks (excluding deposits of the population) were 246,109 legal entities and individual entrepreneurs (minus 13.3%, or 7,591 entrepreneurs and 36,859 entities to the beginning of the year, when there were 290,559 business accounts).
According to the statements of the Central Bank of Azerbaijan, the largest outflow of accounts of local businessmen took place in January and July, especially for legal entities. According to the report of the World Economic Forum, Azerbaijan occupies a leading position on the ease of starting a business - within the framework of "single window" it can account for 2-3 days, but for a serious structure it is important to track the further fate of these entrepreneurs. As can be seen from the report of the Central Bank, the number of commercial banks' customers becomes smaller, and the reason for that is the tightening of the tax base. --17D-
Economics
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