16:40 - 17.10.2023

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October 17, Fineko/abc.az. The parliamentarians have endorsed the draft amendments to the Law on Accounting in the 1rst reading.

ABC.AZ reports that the draft document was submitted for today’s discussion at the Milli Majlis plenary session.

The amendments were drafted in order to determine the range of accounting entities (legal entities and individuals) who will be required to keep accounting records in e-form.

This change will facilitate the e-audit, which is enshrined in the Tax Code, and will also increase efficiency of provision of relevant information by taxpayers mentioned in the draft.
Under the amendments, it is proposed to keep electronic records of taxpayers operating within the legislation on the share distribution of production, on the main export pipeline and other similar agreements or laws, including on oil and gas, on oil and gas activities aimed at export, large and medium-sized businesses with high share in tax revenues whose areas of activity are of strategic importance to the state.