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Legislative Update Newsletter - May & June, 2019

Legislative Update Newsletter - May & June, 2019

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

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In this issue:

  1. Penalties have been enacted for violation of legislation on encumbrance of movable property
  2. Boards of appeal to be established at state-owned legal entities
  3. Micro and small-sized enterprises are exempted from mandatory audit requirement
  4. Financial Monitoring Service to be operated under the Ministry of Taxes
  5. Conception of “Government cloud” (“G-cloud”) has been approved
  6. New edition of the list of countries and territories with preferential tax regime was approved
  7. New penalties were determined for violation of legislation on accounting
  8. Minimum monthly salary was increased
  9. Rules on subsidization of production of agriculture goodswere approved

© 2019 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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