Provision on Taxes Ministry amended

On July 23, 2013 Azerbaijani President Ilham Aliyev signed a decree to amend the provision on the Taxes Ministry envisaging expanding of powers and rights of the Ministry.

The new amendments are aimed at bringing the provision in correspondence with the Fiscal Code, which was changed in December 2012.

According to the latest changes, the state tax service will investigate the cases of evasion of taxes and violation of tax legislation as well as conduct checkups.

The information about founders of companies and their share in the companies will be stored only in the Tax Ministry. The State Statistical Committee, the State Social Security Fund and other agencies will be provided the remaining information from the register of commercial juridical persons. From June 2011 information about founders of companies is considered a commercial secret in Azerbaijan.

The Tax Ministry has obtained the right to demand access to the book-keeping of the company in electronic format. The Tax Ministry also has the right to file a suit to demand payment of taxes to the state budget.

The tax service and the taxpayers can conclude an agreement on fiscal partnership to minimize tax risks.—0—