Debtors’ attached property in Azerbaijan to be sold through online auctions
The Azerbaijani Cabinet of Ministers has approved the rules for organizing and carrying out electronic auctions, where the attached property of taxpayers will be sold.
According to the rules, electronic auctions will be held on the official website in three languages. Individuals or legal entities willing to participate in the auction must register in advance on the official website.
Lots for the Internet auction are formed from the attached property of taxpayers on the basis of a request of the bailiff. The auction organizer must place an announcement about the auction 10 days after receiving the request and all documents from the bailiff or in 5 days if the issue concerns perishable food and other goods.
The Cabinet of Ministers’ decision to determine the rules for organizing and carrying out electronic auctions was adopted as part of Azerbaijani President Ilham Aliyev’s decree on amending the Tax Code, which came into force on January 1, 2017.