LAW OF THE AZERBAIJAN REPUBLIC

On October 24, 2000 No. 935-IQ

About preferential payment in the government budget of debts of legal entities

This Law establishes rules of implementation of preferential debt repayment of legal entities of the Azerbaijan Republic (further - legal entities) according to the government budget, conditions and terms of preferential payment.

Article 1. Basic concepts

1.0. Treat the basic concepts applied in this Law:

1.0.1. Debts on the government budget - unpaid taxes, debts on non-tax payments and the penalty fee and financial sanctions which are subject to payment in the government budget till October 1, 2000 based on reconciliation of the acts approved between tax authorities and legal entities added by tax authorities for violation of the tax legislation;

1.0.2. The current payments - accomplishment by legal entities in the terms established by the legislation and procedure for the tax and non-tax liabilities which arose before the government budget after October 1, 2000;

1.0.3. The term of preferential payment - the terms applied according to this Law.

Article 2. Law effective period

2.1. Provisions of this Law are applied within 5 years, since date of its introduction in force (deadline for preferential payment).

2.2. This Law is applied to debts of legal entities on the government budget till October 1, 2000.

Article 3. Terms of payment deferral of debts on the government budget and conditions of receipt of the right to preferential payment

3.1. Payment of the debts of legal entities on the government budget which are available for October 1, 2000 is deferred from receipt date of the statement (notification) provided by these persons to tax authorities, and they acquire the right to preferential payment.

3.2. To the legal entity who acquired the right to preferential debt repayment according to the government budget the right to pay debts which payment is delayed, in effective periods of this Law with condition of introduction of the current payments quarterly is granted.

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