President Ilham Aliyev approves amendments to several laws

BAKU, Azerbaijan,
March 2. Azerbaijan's budgetary organizations will
submit the necessary information on the state budget and
consolidated budget to the state body through the "Digital State
Finance" information system, Trend reports.

This issue is reflected in the amendments to the law "On the
budget system" approved by the President of the Republic of
Azerbaijan, Ilham Aliyev.

Under the amendment, organizations funded by the state budget
are required to submit the necessary information for the
preparation of state and consolidated budget projects, as well as
consolidated budget indicators, to the body (or organization)
designated by the relevant executive authority within the period
specified by the law. Additionally, the submission of state budget
indicators, revenue and expenditure distributions, and other
relevant data from that body (or organization) to budget-financed
organizations will be conducted via the information system of the
body (or organization) determined by the relevant executive
authority.

President Ilham Aliyev has also approved amendments to the laws
"On Accounting" and "On Public Procurement."

As part of the amendments to the "On Accounting" law, the term
"e-accounting information system" will be replaced with
"information system of the body (organization) determined by the
relevant executive authority," as the "Digital State Finance"
information system now encompasses accounting activities, including
the accounting of state financial and non-financial assets.

Besides, the information system of the body (organization)
determined by the relevant executive authority will ensure
electronic accounting by accounting entities and the preparation
and submission of financial reports, including combined
(consolidated) financial reports.

According to the amendments to the law "On public procurement",
after signing the contract related to the relevant procurements by
the procuring organization through the information system of the
body (institution) determined by the relevant executive authority
(hereinafter referred to as the information system), the relevant
information will be automatically and immediately transferred to
the portal by that information system in accordance with this law,
and the procurement commission will publish the relevant
information on the portal within three working days from the date
the procurement contract enters into force.