Azerbaijan to charge fees for transferring money abroad (UPDATE)
Details added (first version posted at 12:22)
Baku, Azerbaijan, Jan. 19
Azerbaijan plans to introduce a 20-percent mandatory fee for the money transfer abroad in an amount exceeding $50,000 during a year.
This is envisaged by the draft amendments to the law "On Currency Regulation", to be reviewed by the Azerbaijani parliament Jan. 19.
Under the amendments, the fee won't be applied to the money transferred abroad for medical treatment, education, execution of decisions of courts and law enforcement agencies outside of Azerbaijan.
Another 20-percent mandatory fee will be charged for the currency transferred as direct investment to purchase securities, real estates and land plots.