出版物

On 15 April 2019 Azerbaijan’s Constitutional Court (“CC”) adopted a decision on invalidation of the decision of the Supreme Court (“SC”) on refusal to recognise and enforce an arbitral award which was issued by the Korean Arbitration Council.

On 26 February 2018, Management Board of the Central Bank of the Republic of Azerbaijan approved Amendments to the Regulations "On foreign currency transactions of resident and non-residents of the Republic of Azerbaijan" (“Amendment”).

According to the Amendment Law as of July 11, 2017, a new article (50-1), concerning advertisement through telecommunication means and devices has been included into the Telecommunication Law.

According to the Amendment Law as of July 13, 2017, for the purposes of implementation of the Law on Cashless Settlements, a new paragraph (x) has been added to the duties of employer. Thus, all payments to be made to employee by the employer under the Labor Code shall be provided in accordance with the provisions of the Law on Cashless Settlements.

According to the Amendment Law as of July 11, 2017, new paragraphs concerning advertisement have been added to the Law on Copyright and Related Rights. As per new paragraph 3rd of article 6, advertisement is the object of copyright within the terms of the Law on Copyright and Related Rights.

Moreover, according to another new paragraph (3-1) to article 32 of the Law on Copyright and Related Rights, advertisement maker, as well as producer of the advertisement are subjects of the related rights within the terms provided in the Law on Copyright and Related Rights.

In accordance with the Decree of the President of Azerbaijan dated 11 July 2017, the list of countries and territories with preferential taxation was confirmed. 

The Cabinet of Ministers of the Republic of Azerbaijan, by its decision dated 16 June 2017, confirmed the rules for the organization of sale of taxpayer’s seized property in trading networks (including electronic trading networks) (hereinafter - the “Rules”).

The act which primarily governs international arbitration in the Republic of Azerbaijan is the Law of the Republic of Azerbaijan on International Commercial Arbitration, dated 18 November 1999 (“Law on Arbitration”). The Law on Arbitration is completely based on the UNCITRAL Model Law on International Commercial Arbitration 1985 (“Model Law”). Republic of Azerbaijan has ratified the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards with no reservation (“New York Convention”).

In accordance with the Law on “Amendment to the Telecommunication Law of the Republic of Azerbaijan” dated 10 March 2017, operators and providers of internet telecommunication service shall be registered with the Ministry of Transport, Communication and High Technologies (“MTCHT”) within 15 days upon the commencement date of rendering service.

On February 20, 2017, President of the Republic of Azerbaijan signed a decree on approval of “Rule for the refund of the value added tax paid by natural persons during shopping festivals for the goods that are not intended for commercial or production purposes, and that are purchased in the territory of the Republic of Azerbaijan” (“Rule”).