Tax and customs duties should be paid only in non-cash form

07.06.2019,17:18


June 7, Fineko/abc.az. In accordance with Article 3.4.1 of the Law on Non-Cash Payments the taxes, customs duties and fees, administrative penalties established by law, financial sanctions and interests, debts on leasing operations and giving of loans should be paid in non-cash form.

The Ministry of Taxes reports that in case of violation of the requirements of this article, then according to Article 58.7-1 of the Tax Code, the total amount of the transaction implies the imposition of financial sanctions in the amount of 10% in case of the first time of such violation in the calendar year, 20% in the second time, and 40% in the third and more times.

In this case, the financial sanction is applied towards the person who gave the leasing (for receiving of cash payments on the loan on leasing operations) and the lender for giving of loans in cash form.