Azerbaijan parliament OKs writing off population's social insurance debts
By Trend
The Parliament of Azerbaijan has passed a bill writing off the debts of population on compulsory state social insurance at a plenary meeting on March 6.
This covers the debts that were formed as of Jan. 1, 2006 and unpaid until April 1, 2018.
The bill also writes off financial sanctions formed as of Jan. 1, 2015 and not paid until April 1, 2018.
The financial sanctions are expected to be written off in the following order:
- in case the insured paid 10 percent of the debt on financial sanctions in April-May 2018, 90 percent of the amount is written off;
- in case the insured paid 30 percent of the debt on financial sanctions in April-May 2018, 70 percent of the amount is written off;
- in case the insured paid 50 percent of the debt on financial sanctions in April-May 2018, 50 percent of the amount is written off.
The law will enter into force on April 1, 2018.
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