Economic Code

The role of taxation in the economic code

After the registration of the company according to the address on the tax map, from the 8 tax units, the tax of the person to which the tax unit is also identified, and filing in the same area.
The tax area will be specified immediately after the company registration. If the tax area is not specified and the company changed its address so the company registration number will be locked. And the managing director should visit the tax office in order to explain which the code is not received.

Required Documents for obtaining economic code

• Official Corporate Administrative Lease.
• Copy of owner's identity Card Bill or confirmation
• Company Registration Documents
• Identity Documents
• Signature Certificate
• Legal person’s register book
• The Original document of the power of attorney if required

Types of Economic Code

• Personal Economic Code: (Official Lease, Identity Documents, Copy of documents and business license if required) are the requirements for obtaining the economic code).
• Corporate Economic Code: The property must have an administrative appearance, and the official lease must have the tracking code and the tax office representative will visit the property in- person if the company is not registered and did not get the economic code, the company will be fined by the tax office. And after a while it becomes inactive, and no changes can be made, and it cannot be obtained due to tax file number (TFN).

The key uses of economic code for important business affairs

• Obtain a Business Card
• Invoice Issuing
• Opening bank account
• Contract obtaining with Governmental companies
• Obtain a contract with state- owned companies
• Participate in tenders
• Sign a contract with state- owned companies
• Possibility of tax exceptions
•  Sign a contract with professional private companies

Who does not get the economic code?

• Mosques and Takaya
• All the natural persons who are working on Literature, Culture and Arts sections like: design and writing.
• All the natural persons who are working on contracting and the value of their contracts within one year is not more than IRR 50000000.

Benefits of Economic Code

• An economic code is a number given to an economic activist by the Tax Office and is considered as the people identification number in the Tax Office.
• Legal Offices, Bills and the issued Invoices can be evaluated easily by having Economic Code.
• By using the Economic code it is easy to get the license for business activities, and to pay the state taxes in the form of taxation as well as to avoid the negative business competition.
• All the legal persons who are working in production, assembly, exports, imports, goods distribution and services affairs.
• All the natural persons who are working in production, assembly, exports, imports, goods distribution and services affairs.
• The natural persons must have business license from relevant offices and the location of their business activities should be specified. And they should fulfill the requirements for getting economic code.

How to get an Economic Code in Free Zones

Value added documents: the selling and buying official invoice, the official lease of the administrative company, bills if you have the business card (custom green sheet) verification, EVAT registration, getting new economic code, value added file forming, registration tax debt review, debt settlement, request for issuing certificate, providing all value added application forms are required.