News

Newsletter, June 2019

Legal Act: Decision No. 237 on Confirmation of Rules on organization of the process of certification for professional accountants, examination and state registry of certified professional accountants.

Authority: the Cabinet of Ministers

Enactment Date: 22 May 2019

Effective date: 24 May 2019

The Rules regulate organization of the process of certification for professional accountants, examination and state registry of certified professional accountants as well as the form of the professional accountant certificate.

The Rules establish the following eligibility requirements for auditors:

  • Have the relevant certificate stipulated by the Law on Accounting for professional accountants;
  • be a member of a professional accounting organization.
  • The organization of the certification process and examination shall be carried out by the State Examination Center. The certification process will be two staged; the first stage covering questions on accounting and the second stage questions on legislation on budget, tax, civil and labor legislation questions. The certificate will be valid for 5 years.

 

Legal Act: The Decree on state suppor in internal market research for fostering competitive production ability of micro, small and medium entrepreneurship subjects

Authoriy: President of the Republic of Azerbaijan

Encatment date: 29 May 2019

Effective date: 30 May 2019

The Decree defines the rules, forms and conditions of internal market researh for fostering competitive production ability of micro, small and medium entrepreneurship subjects (SMEs). The main purpose of this Decree is to provide SMEs with financial and informational support to check the internal market and this way increasing competitive local production.

The selection of SMEs which will get the above mentioned support will be carried out by the Small and Medium Sized Business Agency of the Republic of Azerbaijan.

The sum for each market research support case cannot exceed 20000 (twenty thousand) manats:

  • 80% of the market research is financed and the rest is paid by the micro entrepreneurship subject himself.
  • 50% of the market research is financed and the rest is paid by the small entrepreneurship subject himself.

Medium entrepreneurship subjects will be exempt from the payments for trainings and workshops on the theme and provided with related informational support on the regular basis.

 

Legal Act: Edict No. 1212 on improvement of the management in the fields of anti-money laundering and fight against financing of terrorism

Authority: President of the Republic of Azerbaijan

Enactment date: 30 May 2019

Effective date: 31 May 2019

The Edicts stituplates the preparation of legal acts to enable the move of the Financial Monitoring Service to the auspecies of the Ministry of Taxes.

 

Legal Act: Decision No. 247 on confirmation of the list of services and fees paid for them to the Intellectual Property Agency of the Republic of Azerbaijan related to invention, utility model, industrial design, trademark and geographical indications

Authority: Cabinet of Ministers of AR

Enactment date: 27 May 2019

The decision confirms the list of services and fees paid for them to the Intellectual Property Agency of the Republic of Azerbaijan related to invention, utility model, industrial design, trademark and geographical indications and assigns the Tarif Council of the Republic of Azerbaijan with related tasks.

21 JUN, 2019