Azerbaijan news

Ministry of Finance reminds NGOs of penalties for failure to submit financial statements

The Ministry of Finance of Azerbaijan has issued an appeal to non-governmental organisations (NGOs) recalling that according to Article 29.4 of the Law “On NGOs (Public Associations and Foundations)”, NGOs must submit an annual financial report to the Ministry of Finance not later than 1 April.

It is also noted that the Cabinet of Ministers approved the “Regulation on the form, content and submission of the annual financial report of NGOs” on 25 December 2009, and the normative legal act is available on the website of the Ministry of Finance: “In addition, the Ministry of Finance has developed the NGO Electronic Reporting Programme in order to receive financial reports in electronic format.

It should be added that the failure to submit financial statements is punishable by administrative penalty under Article 462 of the Code of Administrative Offences.–

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button