Meeting dedicated to innovations in the field of registration of commercial legal entities was held

On the 19th of September the online meeting dedicated to innovations in the field of state registration of commercial legal entities for start-ups, micro and small business entities was held by the State Tax Service (STS) jointly with the Small and Medium Business Development Agency (KOBIA) under the Ministry of Economy. The meeting was attended by representatives of State Tax Service and KOBIA, business associations, as well as representatives of business sector.

Ms. Leyla Huseyn-zadeh, head of division within STS State Registration Main Department, made a presentation on "State registration of commercial legal entities and future plans". She informed on the “Roadmap for 2022-2023 and the upcoming tasks regarding the implementation of improvements in the relevant fields related to the "Business Entry" indicator of the World Bank Group's "Business Ready (B-Ready)" project”. The indicators assessed within diagnostic matrix on the "Business Entry" indicator include the quality of rules for entering into business, transparency of digital public services and information for business startups, efficiency of entering into business, she accented on.

L. Huseyn-zadeh spoke on the experience and implemented reforms in the field of business registration in our country. Starting from 2008 the implemented acitivities on simplifying and improving business registration, achievements, the increase in statistics on registration of business entities were conveyed to the attention of meeting participants. It was emphasized that currently the Working Group was developing a number of projects towards implemention of Roadmap activities.

Measures such as development of software related to the e-implementation of changes in the registration LLC information, state registration of information on beneficial owner (owners) and state registry of such information, limiting the right of risky taxpayers to establish a legal entity by legislation are being implemented. Moreover, implementation of e-registration of LLCs in a more advanced form ("face recognition" methods), elimination of the requirement to attach a document confirming the legal address to the e-application during e-registration of a foreign-invested LLC, integration of information on employee employment to the information system of the Ministry of Labour Social Protection of Population and application of other innovations is envisaged.

The meeting was continued by mutual discussions, when questions of the meeting participants were answered in detail.

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