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PRESIDENTIAL DECREE OF THE AZERBAIJAN REPUBLIC

of December 13, 2012 No. 762

About approval "Rules of determination of the conditions of tax exemption provided in Articles 106.1. 9, 106.1.10 and 122.3 Tax codes of the Azerbaijan Republic"

(as amended of the Presidential decree of the Azerbaijan Republic of 25.12.2019 No. 902)

Being guided by Item 32 of article 109 of the Constitution of the Azerbaijan Republic, for the purpose of ensuring execution of Item 1.4 of the Presidential decree of the Azerbaijan Republic of July 5, 2011 "About application of the Law of the Azerbaijan Republic "About introduction of amendments to the Tax Code of the Azerbaijan Republic" of June 10, 2011 No. 161-IVQD and about modification of the Presidential decree of the Azerbaijan Republic "About application of the Law of the Azerbaijan Republic on approval, entry into force of the Tax code of the Azerbaijan Republic and the questions of the legal regulation and the Tax code of the Azerbaijan Republic approved by the specified Law" of August 30, 2000 No. 393" connected with it I decide No. 468:

1. Approve "Rules of determination of the conditions of tax exemption provided in Articles 106.1. 9, 106.1.10 and 122.3 Tax codes of the Azerbaijan Republic" (are attached).

2. To the ministry of taxes of the Azerbaijan Republic to resolve the issues following from this Decree.

President of the Azerbaijan Republic

Ilham Aliyev

Approved by the Presidential decree of the Azerbaijan Republic of December 13, 2012 No. 762

Rules of determination of the conditions of tax exemption provided in Articles 106.1. 9, 106.1.10 and 122.3 Tax codes of the Azerbaijan Republic

1. General provision

1. These rules are prepared for the purpose of ensuring execution of Item 1.4 of the Presidential decree of the Azerbaijan Republic of July 5, 2011 No. 468 "About application of the Law of the Azerbaijan Republic "About introduction of amendments to the Tax Code of the Azerbaijan Republic" of June 10, 2011 No. 161-IVQD and about modification of the Presidential decree of the Azerbaijan Republic "About application of the Law of the Azerbaijan Republic on approval, entry into force of the Tax code of the Azerbaijan Republic and the questions of the legal regulation and the Tax code of the Azerbaijan Republic approved by the specified Law" of August 30, 2000 No. 393" connected with it and establish rules of determination of the conditions of tax exemption provided in Articles 106.1. 9, 106.1.10 and 122.3 Tax codes of the Azerbaijan Republic.

2. Transfer of assets, stipulated in Article 106.1.9 Tax codes of the Azerbaijan Republic, according to the decision of the legal entity from its own balance or one of the resident affiliated enterprises which are in its complete property on balance of other person

2.1. Part of 2 these rules establishes procedure of transfer of assets, stipulated in Article 106.1.9 Tax codes of the Azerbaijan Republic, for the decision of the legal entity from its own balance or one of the resident affiliated enterprises which are in its complete property on balance of other person.

2.2. The decision on voluntary conveyance of assets from own balance or one of resident affiliated enterprises, wholly owned, on balance of other person can be accepted the legal entity founded and performing activities according to the legislation of the Azerbaijan Republic which place of management is in the Azerbaijan Republic, the power on issue of assets assigned by the President of the Azerbaijan Republic, and belonging for 100% to the state (further – the legal entity).

2.3. The initiative of voluntary conveyance (obtaining) of assets from one balance on another can be announced as the legal entity specified in Item 2.2 of these rules and its resident affiliated enterprises.

2.4. The resident affiliated enterprise which took the initiative of voluntary conveyance (obtaining) of assets from one balance on another shall address in the constituent legal entity specified in Item 2.2 of these rules with the letter, obosnuyushchy need and feasibility of voluntary conveyance (obtaining) of assets from one balance on another. This address is considered within 10 working days and the relevant decision is passed.

2.5. Before decision about voluntary conveyance (obtaining) of assets from one balance on another, the legal entity specified in Item 2.2 of these rules anyway shall consider opinion on the matter of affiliated enterprises to which are transferred (at which undertake) assets.

2.6. Voluntary conveyance of assets from own balance or one of resident affiliated enterprises, wholly owned, on balance of another according to the decision of the legal entity specified in Item 2.2 of these rules it is forbidden in the following cases:

2.6.1. assets of affiliated enterprise which transfers them are necessary for satisfaction of its economic needs;

2.6.2. rationality of use of these assets is not proved by the affiliated enterprise which addressed for their obtaining;

2.6.3. there are more rational projects for use of the specified assets;

2.6.4. fixed assets are in unsuitable condition or the procedure of their writing off according to the procedure, established by the law is begun;

2.6.5. if the requirement is directed to the specified asset according to the law.

2.7. Within one month from the date of decision making about voluntary conveyance according to part of 2 these rules of assets from one balance on another the act of acceptance of the property specified in the resolution is signed. Control over execution of the decision is provided with the legal entity specified in Item 2.2 of these rules.

2.8. After signing of the act of acceptance of the copy of the decision and the act within three working days go the legal entity specified in Item 2.2 of these rules to the State committee on property questions of the Azerbaijan Republic.

3. Transfer of assets from balance of one legal entity, stipulated in Article 106.1.10 Tax codes of the Azerbaijan Republic, on balance of other person

3.1. Part of 3 these rules establishes the procedure transfer of assets from balance of one legal entity, stipulated in Article 106.1.10 Tax codes of the Azerbaijan Republic, on balance of other person.

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