Finance

Finance

Serious law violations revealed in financial report of Baku Metro

15 April 2011 11:16 (UTC +04:00)

According to information, within the last years, appropriate works have been carried out at the expense of state capital investment in direction of metro construction and strengthening of its material and technical basis, automation of passengersâ€™ records on different parameters via the mediation of central and local servers and etc.

â€œAlong with fulfillment of requirements of normative-legal acts, several shortcomings have been revealed too. That is, the audit determined decreasing of taxes at the amount of AZN 1 127.301, as well as wrong calculation of VAT because of attracting the means from sale of metro cards to the VAT not monthly, but in the last month of the year, signing of contracts with individuals not having tax accounting, decreasing of incomes by not taking the means obtained for services during the fulfillment of state capital investment and etc.â€ Accounting Chamber reported.

Nevertheless, in general, AZN 1 765.5 means on tax amounts and financial sanctions decreased by Baku Metro were paid to the state budget during post-audit period.

The director of public catering enterprise, head of Constructed Metro Administration and Chief Accountant were given reprimands for the shortcomings in their activity, Head of contractual relations department and legal adviser were given severe reprimands.