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Azerbaijan approves regulations for payment of copyright royalties in copying audiovisual recordings

28 August 2007 12:07 (UTC +04:00)

Azerbaijan Copyright Agency collects the royalties for copy of phonogram and audiovisual recordings for personal use until a relevant body is established.
The author or the copyright holders are entitled to get royalties from individual bodies for copy of audiovisual work or phonograms.
The taxes Ministry, State Statistical Committee and other relevant bodies have to report quarterly to the Azerbaijan Copyright Agency about copying equipment, importers and users.
The minimum amount of royalties is set at 0.5% of the wholesale price of the equipment.
The importer of equipment has to pay the royalties within 2 months after customs documentation.
The royalties will be paid once by one agreement, and any repayment can not be claimed.
The royalties have to be paid to the account of the Azerbaijan Copyright Agency quarterly.
After paid to the account of the Copyright Agency, the amount has to be delivered to the authors or copyright holders with 10 working days.
After taxation 40% of the royalties will go to the authors, 30% to performers and 30% to producers.
The decision comes amid Azerbaijan WTO accession efforts. /APA-Economics/