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Legislative Update Newsletter - November 21, 2017

Legislative Update Newsletter - November 21, 2017

Overview of recent changes in the Azerbaijani legislation that could materially impact your business.


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In this issue:

  • Additions were made to state registration of legal entities
  • Amendments to the “Resolution on the Ministry of Taxes of the Republic of Azerbaijan”
  • Rules “On refund of overpaid taxes, interests and financial sanctions tothe taxpayer” have been amended
  • The Law on Advocates and Advocacy was amended
  • Amendments were made to the Civil Procedural Code
  • Amendments were made to the Administrative Procedural Code
  • The list of raw materials and materials exempt from import VAT hasbeen approved
  • Revised and amended Agreement on the Joint Development andProduction Sharing for “Azeri-Chirag-Guneshli” fields has beenapproved by the Parliament of the Republic of Azerbaijan
  • The Law on termination of the audits in the field of entrepreneurship hasbeen amended
  • "Azerbaijan Industrial Corporation" was created

© 2020 KPMG Azerbaijan Limited, a company incorporated under the Laws of the Guernsey, acting through its Representative Office in the Republic of Azerbaijan, a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in Azerbaijan.

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

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