Mcdonald's Azerbaijan Fined For Currency Regulation Violation
(MENAFN- AzerNews)
Akbar Novruz
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"McDonald's Azerbaijan" CJSC has been fined for violating
currency regulation rules, Azernews reports.
The fine was issued under Article 430.4 of the Code of
Administrative Offenses, which concerns the non-return of foreign
currency sent abroad if the relevant goods are not imported,
services are not rendered, or works are not performed. The Central
Bank reported that the company sent foreign currency abroad as an
advance payment for services that were never provided and did not
return the currency to Azerbaijan.
Following this, the case was sent to the Baku Sabail District
Court for review. In a hearing led by Judge Shahla Suleymanova, the
court imposed an administrative penalty on "McDonald's Azerbaijan,"
resulting in a fine.
Under Azerbaijani law, violations of currency regulation rules
can result in fines ranging from 10 to 20 percent of the involved
currency funds for officials and from 20 to 30 percent for legal
entities.
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