Azerbaijani Parliament approves tax amnesty bill

Baku. 30 December. REPORT.AZ/ Accrued interest for delayed payment of debts of the taxpayer, will be erased

Report informs, the draft law on regulation of tax debts discussed and approved today at a plenary session of the Parliament.

Accrued interest and financial sanctions for delayed payment of debts of the taxpayer for January 1, 2017 stipulated by Tax Code will be deleted by relevant executive authority.

Other financial sanctions for the tax debt is carried out in the following manner:

In case of payment of 30% of financial sanctions by taxpayers during the month of January 2017, 70% of the outstanding financial sanctions will be removed by the relevant executive authority;

In case of payment of 50% of financial sanctions by taxpayers during the month of January-February 2017, 50% of the outstanding financial sanctions will be removed;

In case of payment of 70% of financial sanctions by taxpayers during the month of January-March 2017, 30% of the outstanding financial sanctions will be removed;

This law also applies to outstanding shares of debts forJanuary 1, 2017 which forced to pay by court decision.