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Cost of business activity license changed

2 February 2017 12:17 (UTC+04:00)
Cost of business activity license changed

By Nigar Abbasova

The Azerbaijani Parliament approved amendments proposed to the law “On state duties” during the first plenary meeting of its spring session.

The amendments envisage changes in the amount of the state duty for a number of licenses required to conduct business activity in the country.

Under the changes, a duty for licenses issued for mobile operators is set at 1 million manats ($520,830), for wholesale of drugs – 20,000 manats ($ 10,416), rendering of IP-telephony services – 50,000 manats ($ 26,041), republic-wide broadcasting – 50,000 manats .

Licenses in the country are being issued with an unlimited term. Therefore, the changes will not affect companies that operate in the market.

Under the law, some 50 percent of paid duties should be directed to a special treasury account to strengthen social protection of the employees rendering the services, while a remaining part of the financial means should be directed to the state budget. Under new amendments, the sum that should be directed to the treasury account should not exceed 5,000 manats ($ 2,604).

In late 2015, President Ilham Aliyev signed a decree on reducing the number of licenses necessary for entrepreneurship, simplifying the licensing procedures and transparency. Some 22 types of licenses were canceled following the decree.

Besides, ASAN service launched rendering of a service of business license issuance.

Licenses for all types of entrepreneurship (which require a special license), excluding cases arising from state security are being granted by the Economy Ministry.

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Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova

Follow us on Twitter @AzerNewsAz

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