Legislation Archives - Page 3 of 4

Terms and rules for extending the tax liability fulfillment period

17 January 20240

The period for the fulfillment of the tax obligation is extended by the Ministry of Taxes of the Republic of Azerbaijan in accordance with the requirements of the Code of the Republic of Azerbaijan and the "Terms and rules for extending the period for the fulfillment of the tax obligation". Cases of changing the period related to the fulfillment of the tax obligation Changing this period to a later period than the one defined by the AR Tax Code is possible in the following cases: Natural disaster or...

Legislation

The procedure for withholding tax at the expense of the taxpayer's property

14 January 20240

The tax liability must be fulfilled within 30 days after the taxpayer's property is listed. Otherwise, the tax authority may apply to the court for the sale of the listed property in the amount necessary and sufficient to ensure the payment of debts to the state budget for interest, taxes and financial sanctions. (through the body (institution) determined by the relevant executive authority,...

Legislation

Duties of internal auditor and internal audit service

10 January 20240

Internal audit is a providing, objective and advisory activity that helps the economic entity to achieve its goals related to the development of its activities and improvement of its efficiency. This activity is carried out with a systematic approach to the development and evaluation of the effectiveness of control and management, risk management. The internal auditor is an employee of this service who performs the audit. The internal control system and internal audit service activities are internal...

Legislation

What is the transfer price and how is it determined?

30 December 20230

Transfer price is the price of goods (services, work) for controlled operations determined in accordance with the AR Tax Code and the rules of "Determining and applying transfer prices". But how are comparable operations selected according to these rules? What are the transfer pricing methods? In this article, you will find the answers to these questions. To determine the transfer price, compared transactions...

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Rules for calculation and payment of excise tax

28 December 20230

Excise tax is a type of tax imposed on some mass consumer goods, jewelry, mineral raw materials, and services by including them in the price. Excise rates of goods brought to the territory of the Republic of Azerbaijan are approved by the Cabinet of Ministers and applied uniformly throughout the country. Which goods are subject to excise tax? Goods and passenger cars not produced in the CIS countries are included in Appendix No. 1...

How to do?Legislation

How are the rights of consumers and their protection ensured?

23 December 20230

A consumer is a person who uses goods, works and services to satisfy his personal needs, as well as buys, orders, or intends to buy or order them. In this article, we will provide information about the rights of consumers and their state protection. What rights do consumers have? In accordance with the Law of the Republic of Azerbaijan "On Protection of Consumer Rights", consumers in the territory of the Republic of Azerbaijan have the following...

Legislation

Who are the taxpayers at risk?

December 18, 20230

Being a risky taxpayer is an undesirable situation for taxpayers. Therefore, it is useful to be aware of risky taxpayers and risky transactions in advance. In this article, we will provide detailed information about these concepts. What are the criteria for a risky taxpayer and how are they determined? The concepts of risky taxpayer and transaction without goods have been included in the Tax Code since January 1, 2020...

How to do?Legislation

What is a customs declaration and how is it drawn up?

December 13, 20230

Customs declaration is understood as the accurate and complete presentation of information about goods and means of transport to customs authorities (in writing, verbally or in other forms). Using this information, customs authorities carry out customs control. The necessary information is determined by executive authorities. Also, the procedure for filling out the declarations, the forms of the declaration, the main documents necessary for the declaration...

Legislation

What is the deadline for tax returns?

01 December 20230

Tax payers for any type of tax must submit a tax declaration to the tax authority where they are registered no later than the period determined by the legislation in order to fulfill their tax obligations. If these deadlines fall on a business day, they must be submitted no later than that day, and if they fall on a non-business day, no later than the next business day. According to the legislation, on types of taxes...

How to do?Legislation

What is accounting?

28 November 20230

Accounting is the collection, registration and summarization of information about the activities of accounting subjects (assets, liabilities, capital, income and expenses). It is also an analytical and synthetic accounting of data based on primary accounting documents for the purpose of compiling financial, tax and other reports. In the simplest terms, accounting can be understood as a database about the activity of subjects. So...

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Legislation

Terms and rules for extending the tax liability fulfillment period

The procedure for withholding tax at the expense of the taxpayer's property

Duties of internal auditor and internal audit service

What is the transfer price and how is it determined?

Rules for calculation and payment of excise tax

How are the rights of consumers and their protection ensured?

Who are the taxpayers at risk?

What is a customs declaration and how is it drawn up?

What is the deadline for tax returns?

What is accounting?

05 July 2024Opening accounts for taxpayers

26 June 2024Features of the accountant profession

19 June 2024What is an LLC and how is it established?

12 June 20245 key principles of financial reporting for businesses

05 June 2024Benefits of accounting for entrepreneurs

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Development is inevitable

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