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Azerbaijan introduces fines for failure to submit required documents on overseas transfers

07 July 2026 12:58 (UTC +04:00)

Fines will be introduced for failure to submit the required supporting documents related to transfers abroad, APA reports.

This is reflected in the proposed amendment to the Code of Administrative Offences, which was discussed at today's session of the Milli Majlis.

According to the draft, under the Law on Currency Regulation, failure to submit the required supporting documents related to transfers abroad (documents confirming the acquisition of a participation interest or share, and other documents stipulated by law) to authorized banks or, in cases envisaged by law, to the Central Bank of the Republic of Azerbaijan within the period established by that law, or failure to transfer foreign currency funds that must be returned to the Republic of Azerbaijan from abroad to accounts held with authorized banks within the prescribed time limits, will result in the following fines: individuals will be fined from 5% to 10% of the amount of foreign currency funds that were the direct object of the administrative offence; officials will be fined from 10% to 20% of that amount; and legal entities will be fined from 20% to 30% of the amount of foreign currency funds that were the object of the administrative offence.

The draft law was put to a vote and adopted in the first reading.

Firuza Vahid

Azerbaijan Milli Majlis Parliament Code of Administrative Offences Law on Currency Regulation overseas transfers foreign transfers fines supporting documents Central Bank authorized banks legislation first reading