Employees of the Department of Tariff Regulation of the Department of Internal Affairs of the Pavlodar region revealed a major violation related to non-fulfillment of obligations to repatriate funds under a foreign economic contract.
A Kazakhstani company has signed a contract with a supplier from the People's Republic of China. As part of the agreement, 16,337,281 US dollars (equivalent to – 7 681 299 403 tenge). However, the goods did not arrive in the Republic of Kazakhstan, and the foreign currency funds were not returned within the time limits established by law.
The audit showed that financial transactions were conducted by the accountant of the organization without proper control from the management.
In accordance with the legislation of the Republic of Kazakhstan, responsibility for compliance with currency regulations is assigned directly to a legal entity, regardless of which employee carried out the transactions.
Based on the results of the review of the case materials, the company was brought to administrative responsibility. The amount of the fine imposed exceeded 1.5 billion tenge, which became one of the largest penalties for violating currency legislation in the Pavlodar region.
The Department of Tariff Regulation of the Department of Internal Affairs of the Pavlodar region reminds participants of foreign economic activity (FEA) on the need for proper control over the execution of foreign trade contracts. It is important for businesses to ensure timely receipt of goods or refund of funds for outstanding obligations. Failure to comply with legal requirements entails administrative liability and financial losses.

Department of Explanatory Work and Contact Center
State Duma of the Pavlodar region

Source : https://www.gov.kz/memleket/entities/kgd-pavlodar/press/news/details/1248663?lang=ru