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Rules for Tax Registration of Business Entities and Sanctions
Rules for Tax Registration of Business Entities and Sanctions
We inform you that, in order to engage in the activity specified in your inquiry, you must first register with the tax authority and obtain a Taxpayer Identification Number (TIN). Then, to register the business entity (facility) that you either lease or own for tax purposes, you must attach the lease agreement and submit to the tax authority of the area where the facility is located the “Application for registration with the tax authority of the branch, representative office, or other business entity (facility) of the taxpayer.”
Individual entrepreneurs and resident individuals required to submit a tax return in accordance with the provisions of the Tax Code are registered with the tax authority at their place of residence.
According to the requirements of tax legislation, both natural and legal persons who are taxpayers must ensure the registration of business entities used in their entrepreneurial activity.
We further bring to your attention that, in accordance with Article 58.2-1 of the Tax Code, failure to register a business entity (facility) with the tax authorities in the manner established by the competent body designated by the relevant executive authority, and/or submission of distorted information about the area of the business entity (facility), shall result in the imposition of a financial sanction of 40 manats in relation to micro-business entities, non-commercial organizations, and persons not engaged in entrepreneurial activity, and 400 manats in relation to other persons.
We inform you that, in order to engage in the activity specified in your inquiry, you must first register with the tax authority and obtain a Taxpayer Identification Number (TIN). Then, to register the business entity (facility) that you either lease or own for tax purposes, you must attach the lease agreement and submit to the tax authority of the area where the facility is located the “Application for registration with the tax authority of the branch, representative office, or other business entity (facility) of the taxpayer.”
Individual entrepreneurs and resident individuals required to submit a tax return in accordance with the provisions of the Tax Code are registered with the tax authority at their place of residence.
According to the requirements of tax legislation, both natural and legal persons who are taxpayers must ensure the registration of business entities used in their entrepreneurial activity.
We further bring to your attention that, in accordance with Article 58.2-1 of the Tax Code, failure to register a business entity (facility) with the tax authorities in the manner established by the competent body designated by the relevant executive authority, and/or submission of distorted information about the area of the business entity (facility), shall result in the imposition of a financial sanction of 40 manats in relation to micro-business entities, non-commercial organizations, and persons not engaged in entrepreneurial activity, and 400 manats in relation to other persons.