Ministry of Taxes: Number of VAT payers with foreign investments has increased


January 15, Fineko/abc.az. The Ministry of Taxes has published a statement on the registration of legal entities.

ABC.AZ reports with reference to the Tax Ministry, 10,338 (76%) of the foreign companies registered in Azerbaijan are limited liability companies, 2,705 (19.9%) are branches or representative offices, 123 (0.9%) are joint-stock companies, and 407 (3%) are companies of other organizational and legal forms.

Compared with the results of 2018, the number of active foreign investment organizations grew by 44.8%. Over the same period the number of VAT payers with active foreign investments increased by 250 or 11.1%.

Last year 37.5% of commercial legal entities registered in Azerbaijan were established by individuals and legal entities from Pakistan, 17.2% from Iran, 13.6% from Turkey, 7.7% from India, and 3.7% from Russia. Registered as of 1 January 2020, 40.4% of state-owned enterprises with foreign investments are engaged in services, 25.4% in trade, 10.8% in construction, 9.9% in industry, 2.7% in communications, 2.6% in transport, 2% in agriculture, 1% in Finance, and 5.3% in other areas.