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Over 4.5bn AZM in tax debts written off at court sentences

Business Materials 28 December 2005 17:55

The State Program on improvement of tax administration (2005-2007) envisages the application of technologies and legal-economic mechanisms for timely revealing of tax debts and repayments to the public budget in short terms, the Ministry of Taxes said. The measures to be implemented under the program also stipulate the expansion of the technological and administrative opportunities in the direction of obligatory collection of tax debts.

To ensure timely repayment of debts to he public budget, the Tax Code envisages adoption of sentences for registration of the debtors’ property. If in January to August 2005 7,573 sentences of the kind was issued with 3,886 implemented, in September to November вЂ" 21,273 (4,289 implemented).

The same time, in compliance with the sentences in October property of tax-payers in debt were sold at the Auction Center of the commodity exchange on sale of moveable and immovable property. As a result, in January to August on the base of 703 sentences 1,932bn manats in tax debts was written off, while in the subsequent three months вЂ" 2,812bn manats on the base of 569 sentences.

If in June to August 1010 sentences on registration of a list of debtors’ property were annulled following the fulfillment of tax liabilities, in September to November the debts written under the sentences increased 10 times (10,480 sentences).

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