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RESOLUTION OF THE CABINET OF MINISTERS OF THE AZERBAIJAN REPUBLIC

of September 20, 2024 No. 435

About approval of "Regulations on creation of special reserves for the purposes of the taxation of bankrupt banks"

For the purpose of ensuring execution of subitem 2.2.6 of the Presidential decree of the Azerbaijan Republic of December 28, 2023 No. 2439 "About implementation of the Law of the Azerbaijan Republic of December 5, 2023 No. 1033-VIQD about introduction of amendments to the Tax Code of the Azerbaijan Republic". The Azerbaijan Republic and settlement of number of the questions following from this", the Cabinet of Ministers of the Azerbaijan Republic decides:

Approve "Regulations on creation of special reserves for the purposes of the taxation of bankrupt banks" it (is applied).

Approved by the Resolution of the Cabinet of Ministers of the Azerbaijan Republic of September 20, 2024 No. 435

Regulations on creation of special reserves for the purposes of the taxation of bankrupt banks

1. General provisions

1.1. This Provision determines rules of classification of assets of bankrupt banks (further - banks) and creations of special provisions by recognition of possible losses on assets and deductions from the income for the purposes of the taxation.

1.2. Provisions of this provision do not extend to the measures for restructuring realized according to the Presidential decree of the Azerbaijan Republic of February 28, 2019 No. 551 "About the additional measures connected with the solution of the problem credits of physical persons in the Azerbaijan Republic".

1.3. The concepts used in this Provision express the values determined normative and regulatory legal acts of the Azerbaijan Republic.

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