Press Conference on State Registration of Legal Entities

A number of press conferences are being carried out in the Center for Analysis of Economic Reforms and Communication (CAERC) with participation of the working groups of the Commission on Business Environment and International Ratings. On April 16, the CAERC together with the Ministry of Taxes conducted press conference on the significance and advantages of the state registration of legal entities. CAERC analyst Narmin Kazimli said that during planned press conferences, which would be conducted with the participation of representatives of the working groups of the Commission on Business Environment and International Ratings, they will provide information about latest economic reforms, new achievements, improved systems and updated statistical data.  Consulting companies representing the Working Group on Starting a Business, Taxes and Accountability also attended the event. During the press conference,  Director General of the Department of State Registration and Control over Accounting of the Ministry of Taxes Alakbar Mammadov informed mass media representatives about new online registration system.  

As it was mentioned at the event, new service let users to enter “Internet Tax Office” without electronic signature and pass authentication in the e-registration system putting in PIN code. Once details of a registration form are included in the system online, the documents are approved in one procedure, and the TIN (Taxpayer Identification Number) issuance process completes. Within the frame of the procedure the information on labor contract notification is automatically sent to the information system of the Ministry of Labour and Social Protection of Population, the registration of a taxpayer for VAT purposes and issuance of duplicate certificate for opening bank account is provided.

According to A.Mammadov’s words, compared to the same period of last year, the number of registered legal entities in the first quarter of 2019 increased by 8.1%, the number of individuals – by 28.5%, electronic registration of limited liability companies with local investments – by 11.3%. The share of electronic registration of limited liability companies with local investments in March of this year was 87.8%.

After, the process of electronic state registration of legal entities was demonstrated to the participants.