Chamber of Audits Propose Changes in Azerbaijani Tax Code

Business Materials 27 October 2007 12:14

Azerbaijan, Baku / Trend corr. S.Babayeva / Chamber of Audits proposes to make changes in the Tax Code of Azerbaijan.

According to Vahid Novruz, the head of the Chamber of Audits, there are serious problems in conduct of audit process in budget organizations which are controlled due to presence of gaps in the legislation.

Some 10.2% of organizations passed audit in 2006 and 8.9% in 2007.

Changes in the Code include compulsory audit agreements in budgets organizations.

The other proposal was to impose financial sanctions on budget organizations which avoid their responsibilities of audit.