Since October 2023, a new mechanism for opening a bank account has been introduced in Azerbaijan, a representative of the State Tax Service at the Ministry of Economy of Azerbaijan Azer Mustafaev said.
“In order to simplify the existing administration and reducing the number of procedures, it is planned to introduce a new mechanism by making amendments to the current legislation. The new mechanism will be introduced in October 2023, and before that, the appropriate work will be carried out between the tax authorities and banks”, he said.
Mustafaev noted that in accordance with the changes, it is expected to remove the restriction imposed on taxpayers-debtors to open an account, as well as the cancellation of the claim for receiving a copy of the certificate in the tax authority for opening an account of banking operations.