Tax sanctions against Turan Information Agency canceled

Tax sanctions against Turan Information Agency canceled
The Local Taxes Department of the Ministry of Taxes has canceled additional 37,000 manat tax sanctions imposed on Turan Information Agency for 2014-2016 years. informs, department informed the agency with official letter. The Department has taken this decision on the basis of summary of inspections.

Notably, the Ministry of Taxes carried out an inspection at Turan Information Agency LLC.

Investigation Office of the Department for Primary Inspection of Tax Crimes of the Ministry of Taxes under Article 213.1 (tax evasion) of the Criminal Code, on evasion of paying significant amount of taxes to the state budget, revealed according to the results of the mobile tax inspection, which was conducted by the Ministry of Taxes to inspect availability of tax risks and tax evasion at "Turan News Agency" LLC.

Investigation revealed that Director of "Turan News Agency" LLC, Mehman Aliyev abused powers, undertook keeping record of financial and economic activity of the company and violated the requirements of the law "On Grant" by fulfilling the duties stipulated on entrepreneurial activity. Reasonable suspicions revealed on significant damage to the legally protected interests of the state by being engaged in illegal entrepreneurial activity, earning illegal income in a large amount on non-registered grant agreements in 2010-2014, that is 148,310 AZN as well as on evasion payment of a large amount, 60,080 AZN profit tax to the state budget by entering distorted materials to the profit tax returns in 2010-2016.

M.Aliyev was detained as a suspect on August 24, 2017 and charged with Article 192.2.2 (illegal business), 213.1 (tax evasion) and 308.1 (abuse of power) of the Criminal Code. Yasamal District Court issued arrest warrant for him.

On September 11, President Ilham Aliyev instructed the relevant bodies to consider the issue of replacing the arrest warrant for Turan Information Agency with house arrest.

On the same day the Yasamal District Court had lifted arrest warrant on him and M. Aliyev was released.