LAW OF THE AZERBAIJAN REPUBLIC

of May 25, 2021 No. 326-VIQD

About modification of the Tax code of the Azerbaijan Republic

Being guided by Item 15 of part I of article 94 of the Constitution of the Azerbaijan Republic, Millie DECIDES: Majlis of the Azerbaijan Republic

In the Tax code of the Azerbaijan Republic (Collection of the legislation of the Azerbaijan Republic, 2000, No. 8 (I book), Article 583; 2001, No. 7, Article 454, No. 9, Article 576, No. 12, Article 734; 2002, No. 5, Article 249, No. 12, Article 707; 2003, No. 8, article 425, No. 12 (I book), Article 671; 2004, No. 1, Article 1, No. 11, Article 887, No. 12, Article 980; 2005, No. 2, Article 61, No. 8, Article 688, No. 12, Article 1081; 2006, No. 12, Articles 1005, 1026; 2007, No. 1, Article 4, No. 6, Article 597, No. 8, Article 745, No. 11, Article 1053, No. 12, Article 1192; 2008, No. 7, Article 602, No. 11, Article 960; 2009, No. 7, Article 506; 2011, No. 1, Article 14, No. 7, Articles 588, 603, No. 12, Article 1115; 2012, No. 6, Articles 500, 513, No. 7, Article 652, No. 9, Article 841, No. 12, Article 1226; 2013, No. 2, Article 91, No. 4, Article 366, No. 11, Article 1278, No. 12, Articles 1483, 1486, 1495; 2014, No. 2, Articles 94, 98, No. 6, Article 608, No. 7, Article 770, No. 8, Article 957, No. 10, Article 1158, No. 12, Article 1525; 2015, No. 1, Article 11, No. 12, Article 1433; 2016, No. 2 (I book), Article 207, No. 3, Articles 396, 402, No. 5, Article 848, No. 6, Articles 973, 974, 1015, No. 7, Article 1245, No. 10, Article 1603, No. 11, Articles 1752, 1792, 1793, No. 12, Articles 2001, 2037, 2046; 2017, No. 2, Article 146, No. 5, Articles 695, 723, 737, No. 6, Article 1055, No. 7, Article 1304, No. 8, article 1509, No. 12 (I book), Articles 2219, 2251, 2270; 2018, No. 2, Article 149, No. 5, Article 863, No. 6, article 1193, No. 7 (I book), Articles 1414, 1427, No. 10, Article 1962, No. 11, Articles 2186, 2210, No. 12 (I book), Article 2498, 2509; 2019, No. 1, Article 30, No. 4, Article 590, No. 5, Articles 796, 801, 804, 812, 814, No. 8, Articles 1364, 1373, 1378, No. 12, Article 1894; 2020, No. 5, Article 522, No. 6, Articles 668, 678, No. 7, Article 832, No. 8, Article 1013, No. 11, Articles 1328, 1334, No. 12 (I book), Article 1439, 1441, 1454, 1455; The Law of the Azerbaijan Republic of February 23, 2021 No. 266-VIQD) to make the following changes:

1. at the end of Article 150.1.13.4 to replace sign of point with sign of semicolon and to add with Article 150.1.13.5 of the following content:

"150.1.13.5. obtaining by the mortgage holder according to article 43 of the Law of the Azerbaijan Republic "About mortgage" the property encumbered for benefit of the mortgage holder in case the property of the individual entrepreneur acts as providing on the issued loan.".

2. add Article 150.3-1 with the second and third paragraphs of the following content:

"The specialized organizations acting as the organizer of auction within 10 (ten) working days from the moment of registration of results of auction shall provide to tax authority information on transactions, not taxable at payment source according to Article 150.1.13.5 of this Code, in the form determined by the body (structure) established by relevant organ of the executive authority.

When obtaining by the mortgage holder according to article 43 of the Law of the Azerbaijan Republic "About mortgage" property of the physical persons who are not staying on the registry in tax authority as the taxpayer which is encumbered for benefit of the mortgage holder as providing on the issued loan the specialized organizations acting as the organizer of auction hold the simplified tax estimated according to Articles 220.8 and 220.8-1 of this Code from the mortgage holder.".

3. add with Article 150.3-5 of the following content:

"150.3-5. In case, stipulated in Article 150.1.13.5 of this Code, individual entrepreneurs shall calculate the simplified tax according to Articles 220.8 and 220.8-1 of this Code, no later than the 20th following month under report to transfer the estimated tax into the government budget and to provide to tax authority the declaration in the form approved by the body (structure) established by relevant organ of the executive authority.".

4. add Article 159.7 with the third offer of the following content:

"Representation of the property encumbered with mortgage for benefit of bank or other credit institution as providing on the issued credit and the carried-over bank or other credit institution by auction and also received according to article 43 of the Law of the Azerbaijan Republic "About mortgage" are not considered as taxable transaction within the amount of the main debt which is not paid on the issued credits.".

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