Azerbaijan liberalizes money outflow

Azerbaijan liberalizes money outflow
# 30 May 2007 12:17 (UTC +04:00)
Azerbaijan is working to soften duties for currency outflow abroad, said the Economic Development Ministry officer, Adalat Muradov.
“According to the WTO standards, capital outflow has to be duty free. The national Bank has agreed to cut the present rate to zero. There are no problems with taking capital from Azerbaijan abroad in transaction. But, taking capital in money is restricted. We want to remove this limitation,” he added.
As per the customs regulations, an Azerbaijani citizen can take abroad $10,000 in cash- $1,000 without any problem but the rest $9,000 with a bank document and 1% customs duty. /APA-Economics/

Politics

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