Non-governmental organizations (NGOs), including branches and representative offices of foreign non-governmental organizations in the Republic of Azerbaijan, will face new fines for failing to submit annual financial reports on grants and donations to the regulatory authority, or for failing to submit them on time, fully, or correctly, this is reflected in the new Article 598.8-1 added to the Administrative Offences Code of the republic of Azerbaijan, approved by President Ilham Aliyev, APA reports.
According to the new article, if non-governmental organizations, including branches and representative offices of foreign non-governmental organizations in the Republic of Azerbaijan fail to submit detailed annual financial reports on grants and donations, as well as their use, to the regulatory authority specified under the Law of the Republic of Azerbaijan "On the Fight against legalization of the property received in the criminal way, and terrorism financing", responsible officials will be fined between 1,000 and 1,500 AZN, and legal entities will be fined between 2,500 and 3,000 AZN.
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