New Commercial Courts Established in Azerbaijan
News laws on amending the Civil Procedural Code and the Law on Courts and Judges were published in July 2019.
Increase in Statutory Minimum Salaries
According to the Presidential Decree dated 18 June 2019, the minimum monthly salary increased from 180 manat to 250 manat.
Penalties for Absence of Accounting Division
According to the Law on amending the Code of Administrative Offenses, enterprises may be penalized for absence of accounting division.
Exemption of Micro and Small Enterprises from Some Audit and Disclosure Requirements
According to the Law dated 3 May 2019, the Civil Code was amended to exempt micro and small limited liability companies and open joint-stock companies respectively from the mandatory annual audit requirement and the requirement to publicly disclose financial reports.
Constitutional Court of Azerbaijan Decides that a Devaluation is not a Material Change in Circumstances
According to the decision the Constitutional Court of Azerbaijan has established that the devaluation of the national currency cannot be considered as a material change in circumstances for the parties to a loan agreement
Constitutional Court of Azerbaijan Republic Decides on Insured Deposits
Bonuses given to deposit (savings) customers iare not included in the annual interest rate for deposits and shall not cause such deposits to lose their insured status
Amendments to the Law on Employment
Employers shall submit information about vacancies to the vacancy banks no later than 5 business days from the date of opening of new job vacancies
Amendments related to Order Proceedings in Civil Procedure Code
Certain claims are excluded from the list of claims which are subject to expedited court order proceedings.
Amendments to the Law on Accounting
Several significant amendments and additions have been made to the Law of the Republic of Azerbaijan on Accounting, which came into force on June 3, 2018
Amendments to the Law on Protection of Consumers’ Rights
The Law of the Republic of Azerbaijan On Protection of Consumers' Rights has been amended by the Law dated May 4, 2018.
New Law on Alat Free Economic Zone
The Law on Alan Free Economic Zone, which came into force on June 5, 2018, contains provisions that create favourable conditions for entrepreneurial activity in Alat Free Economic Zone.
Amendments to the Civil Code
Amendments to the Civil Code of the Republic of Azerbaijan dated April 3, 2018
Significant Changes to the Bankruptcy Legislation
Several significant amendments and additions have been made to to the Law of the Republic of Azerbaijan on Insolvency and Bankruptcy
Azerbaijan Joins the UN Convention on the Use of Electronic Communications in International Contracts
Azerbaijan Republic adopted the Law on Ratification of United Nation Convention on the Use of Electronic Communications in International Contracts dated November 23, 2005.
Amendments to the Regulations on Foreign Currency Transactions
It is required to submit customs declarations to the relevant bank within 270 days from the date of the payment for goods to be imported.
Laws Entered Into Force in January 2018
Law on Unemployment Insurance, Minimum Wages, Subsistence Minimum, Labor Code and Tax Code
Amendment to Tax Legislation
The amendment to the Tax Code has introduced a number of significant changes into the tax legislation of the Republic of Azerbaijan.
Limitations on Cash Transactions
Cash transactions have been limited
Fines for violation of rules established in relation to entering into agreements with related parties
Industrial Park Privileges
Pursuant to the changes made to the legislation, some privileges are established for some residents of industrial parks