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ORDER OF THE PRESIDENT OF THE AZERBAIJAN REPUBLIC

of October 23, 2004 No. 468

About additional measures in the field of expansion of leasing in the agrarian sector

(as amended on 16-08-2016)

Implementation of reforms in the agrarian sector, including land reform, liquidation of kolkhozes and sovkhozes and free distribution among rural population of all property belonging to them, liberalization of prices for products, privatization of the companies processing agricultural products and other measures gave serious impulse to dynamic development of this sector. In previous years 3 million 500 thousand citizens having the right of free receipt of land share received the state act granting the property right to the earth. Debts of the liquidated kolkhozes and sovkhozes, the privatized state companies for the total amount more than 100 billion manats were written off. Projects on supply of farmers with various agricultural machinery are performed. For the purpose of increase in production of agricultural products and acceleration of development of entrepreneurship in this area producers of agricultural products till January 1, 2009 are exempted from all taxes, except the land tax.

Now one of the major forthcoming tasks in the agrarian sector is connected with improvement of supply of the producer with necessary agricultural machinery, cultivation of high-quality products and ensuring its collection without loss. "The state program of social and economic development of regions of the Azerbaijan Republic approved by the Presidential decree of the Azerbaijan Republic of February 11, 2004 No. 24 (2004-2008)" provides with respect thereto adequate measures.

For the purpose of ensuring flexible regulation of questions of supply of the agrarian sector with the modern equipment and acceleration of execution of the measures provided by the State program I decide:

1. Charge to the Ministry of Economic Development of the Azerbaijan Republic to create Agroleasing Open joint stock company which controlling stake on preliminary stage for 100 percent belongs to the state.

2. Determine that the Agroleasing Open joint stock company performs by leasing transfer to lease or sale to legal entities and physical persons of agricultural machinery, processing equipment, acquired at the expense of the funds allocated for these purposes from the government budget and rendering technical services to them and also sale of the pesticides and agrochemicals acquired at the expense of the funds allocated from the government budget.

3. Charge to the Cabinet of Ministers of the Azerbaijan Republic:

3.1. in a month to approve rules of transfer of agricultural machinery, the processing equipment belonging to Agroleasing Open joint stock company in leasing to legal entities and physical persons or its sales by leasing;

3.2. together with the Ministry of Finance of the Azerbaijan Republic for the organization of activities of Agroleasing Open joint stock company to provide in drafts of the government budget of the Azerbaijan Republic for 2005 and 2006 for this purpose funds for the amount according to 100,0 of one billion and 150, of 0 billion manats with return condition not later than within 10 years;

3.3. within 10 days to accept the relevant resolution for release of the movable objects which are subject of the leasing agreement carried by the classification established by the legislation to fixed assets from the customs duty on import and the value added tax when importing;

3.4. together with the Ministry of Economics of the Azerbaijan Republic and the Ministry of Agriculture of the Azerbaijan Republic to take consecutive measures for use of the means received within the projects performed in the country by the international organizations and financial structures of foreign countries for improvement of technical supply of the agrarian sector;

3.5. perform necessary measures in connection with the organization of activities of Agroleasing Open joint stock company.

4. To the Ministry of Economics of the Azerbaijan Republic and Ministry of Agriculture of the Azerbaijan Republic:

4.1. together with the Ministry of Justice of the Azerbaijan Republic to provide preparation and state registration of the Charter of Agroleasing Open joint stock company in a month;

4.2. resolve other issues following from this Order.

5. This Order becomes effective from the date of signing.

President of the Azerbaijan Republic

Ilham Aliyev

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

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