NBU changes procedure for imposing fines for currency transaction reporting violations
The National Bank of Ukraine (NBU) has changed a procedure for applying fines for failing to submit reports on currency transactions in due time, hiding or changing them, the regulator has reported on its website.
The amendments to the provisions on currency control are outlined in NBU board resolution No. 394 dated October 18.
"A fine of up to 1,000 non-taxable minimum citizens' incomes is foreseen for all facts of violation of requirements to the reports during the period under examination. Earlier a fine of 100 non-taxable minimum citizens' incomes was imposed for each violation," the central bank said.
According to the amendments, fines are applied to each case of violation, apart from fines for violation of requirements to statistics reports.
In addition, the NBU expanded a list of documents by e-documents accepted and used by the NBU to exchange information with other oversight agencies.
