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Azerbaijan amends law “On non-cash settlements”

Politics Materials 24 December 2024 19:59 (UTC +04:00)
Azerbaijan amends law “On non-cash settlements”
Ali Gasimov
Ali Gasimov
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BAKU, Azerbaijan, December 24. President Ilham Aliyev has signed a law on amendments to the Law of the Republic of Azerbaijan “On non-cash settlements”, Trend reports.

According to the law, the words “from 30,000 manats” should be replaced with the words “from 2 percent of turnover (including VAT) of goods, works and services submitted in the previous calendar month” and the second sentence of the following content is added to Article 3.3:

“In the case stipulated in the first sentence of this Article, if 2 percent of the turnover of goods, works and services presented in the previous calendar month (including VAT) is less than thirty thousand manat, for the calculations made during the calendar month for the total amount of more than thirty thousand manat, and 2 percent of the turnover of goods, works and services provided in the previous calendar month (including VAT) is more than fifty thousand manat, payments on settlements exceeding one thousand manat shall be made only in non-cash procedure”.

This law comes into force from January 1, 2025.

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