LAW OF THE AZERBAIJAN REPUBLIC

of December 30, 2016 No. 474-VQ

On regulation of the tax debt of taxpayers which is available for January 1, 2017

Being guided by Items 1 and 15 of part I of article 94 of the Constitution of the Azerbaijan Republic, for the purpose of stimulation of development of entrepreneurship in the Azerbaijan Republic, the Majlis of the Azerbaijan Republic decides forming of favorable business environment and optimization of the tax load of Millie:

Article 1. Regulation of debt on the percent added for timely failure to pay taxes by taxpayers

The debt of taxpayers for January 1, 2017 which is available on cards of personal accounts in tax authorities, on the percent added for failure to pay taxes by them in time, established by the Tax code of the Azerbaijan Republic, is written off by relevant organ of the executive authority.

Article 2. Regulation of the tax debt which arose in connection with the financial sanctions applied by tax authorities concerning taxpayers

2.1. The debt of taxpayers for January 1, 2017 which is available on cards of personal accounts in tax authorities, arose in connection with the financial sanctions applied by tax authorities according to article 58.7 of the Tax Code of the Azerbaijan Republic is written off by relevant organ of the executive authority.

2.2. Write-off of the tax debt which arose in connection with application to taxpayers of financial sanctions in case of other actions for tax supervision and inspections which are carried out by tax authorities is performed taking into account article 2.1 of this Law in the following procedure:

2.2.1. in case of payment by taxpayers of 30 percent of the specified financial sanctions within January, 2017 - 70 percent of unpaid financial sanctions are written off by relevant organ of the executive authority;

2.2.2. in case of payment by taxpayers of 50 percent of the specified financial sanctions within January-February of months 2017 - 50 percent of unpaid financial sanctions are written off by relevant organ of the executive authority;

2.2.3. in case of payment by taxpayers of 70 percent of the specified financial sanctions within January-March of months 2017 - 30 percent of unpaid financial sanctions are written off by relevant organ of the executive authority.

Article 3. Final provision

Provisions of this Law are also applied to unpaid part of the tax debt of taxpayers established by articles 1 and 2 of this Law on which the judgment on compulsory payment, but available for January 1, 2017 is made.

Article 4. The introduction of the Law in force.

This Law becomes effective since January 1, 2017.

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