Financial statements from Azerbaijan

Schmidt & Schmidt offers financial statements from Azerbaijan in electronic form and their translations into English.

According to law, companies in Azerbaijan must submit annual financial statements. These data are reported in electronic form or in paper. Reporting of financial statements in the Azerbaijan is subject to the Accounting Act and other regulations. In Azerbaijan, the IFRS are used. Their use is allowed for all kinds of commercial companies. Financial statements are filed to tax authorities, statistics authorities and other state services dependent on the company’s nature of business.

Not all companies publish their financial statements, but only some categories.

Following company types publish their financial statements:

• Companies participating in stock exchange
• Financial companies
• State companies
• Companies participating in realization of state projects

Annual financial statement includes:

• Balance sheet
• Profit and loss report
• Notes

Financial statements provide detailed information about a company’s financial state, solvency and performance of an enterprise.

Depending on the size of the enterprise, its financial statement can contain up to several hundred pages. Financial statements can be obtained from specialized media or websites. Official information from tax authorities is available only for the company itself.

Financial statements of companies participating in stock exchange are obtainable from online services of the stock exchange.

For a request of a company financial statement, its full name in Azerbaijani language, VÖEN number (ID number), and a power of attorney issued by the company itself are required.

Financial statements can provide valuable information about potential business partner which can be used for making decisions like purchasing capital shares or goods or taking legal action to collect debts.

Financial statements are provided in accordance with the legislation of Azerbaijan and legal requirements on personal data protection.

On our website, you can make a preliminary request if a certain company’s financial statements are obtainable.