AMENDMENTS WERE MADE TO THE INTERNATIONAL PAYMENT OBLIGATIONS
The deadline for the submission of a customs declaration confirming the import of goods when paying for these goods or documents confirming the provision of imported services to an authorized bank was extended from 270 days to 2 years.
In addition, if the cost of not imported goods and services is under 10,000 USD, then there will be no need in informing the currency control authority after the amendments enter into force.
In this regard, the Board of the Central Bank of the Republic of Azerbaijan made some changes to the "Regulations on currency operations of residents of the Republic of Azerbaijan in foreign currency, and non‐residents in national and foreign currencies”.
It is expected that the changes will come into force after inclusion in the State Register of Legal Acts of the Republic of Azerbaijan.
Source link: “Decision of the Management Board of the Central Bank of Republic of Azerbaijan from 20.02.2020”
