Azerbaijan Approves New Fines For Incomplete Payment Of LLC Authorized Capital
Date
7/16/2024 10:08:36 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, July 16. Azerbaijan has
defined new penalties for incomplete payment of the authorized
capital of a limited liability company (LLC) or non-submission of
information on the paid authorized capital, Trend
reports.
According to information, President Ilham Aliyev has approved
amendments to the Code of Administrative Offenses in this
regard.
Thus, the officials will be fined 1,000 manat ($588.2) for
incomplete payment of the charter capital of a limited liability
company within the terms stipulated by the Civil Code, and legal
entities will be fined 2,000 manat ($1,176).
Furthermore, for failure to provide information on the fully
paid-up authorized capital of a limited liability company to the
body (institution) determined by the relevant executive authority
within the terms stipulated by the Law "On State Registration and
State Register of Legal Entities," officials will be fined 500
manat ($294.1), and legal entities - 1,000 manat ($588.2).
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