Additional obligation on banks
Information on transactions carried out through the accounts of VAT registered taxpayers should be submitted by the banks to the respective executive authority by 10th of each month. Risky taxpayers and transaction without substance concepts and related provisions
Risky taxpayers and transaction without substance terms are considered to be added in the Tax Code.
A non-commodity transaction is an operation discovered in the course of tax control, designed to disguise another transaction, and in fact is formalized to generate profit without the provision of goods, works and services. Criteria for identifying a risky taxpayer are expected to be published as a separate guideline
Source PWC
Latest Posts in "Azerbaijan"
- VAT Refunds in Nakhchivan Exceed 3.4 Million Manats, Boosting Consumer Benefits
- Meeting Held with VAT Payers in Nakhchivan to Discuss Tax Inspections and Compliance
- Informative Video on VAT Refund for Cultural Services by State Tax Service Released
- VAT Refunds in Nakhchivan Reach 3.3 Million Manats, Increasing Transparency and Control
- Consumers Continue to Benefit from VAT Refund Project in Azerbaijan, Over 108 Million Manat Returned
