5 Major Developments in Azerbaijan

5 Major Developments in Azerbaijan

• 461.2 Million Manats of VAT Returned to Consumers in Azerbaijan

• Partial refund of VAT paid by consumers for goods and services in Azerbaijan

• Azerbaijan Reveals Estimates On VAT Refund For Residential, Non-Residential Plots (VIDEO)

• Azerbaijan approves List of VAT-Exempt Imported Fixed Assets

• E-Invoicing In Azerbaijan

Customs

• Ratifies List of VAT-Exempt Imported Outfits, Duties in Freed Territories

Deduction (Input Tax Credit)

• Ruling: Can the VAT paid during the construction of the property given to the public institution free of charge be offset?

E-invoicing

• E-Invoicing In Azerbaijan

Exemption

• Azerbaijan amends list of legal entities of public law exempt from VAT

• Azerbaijan Exempts Import of De-Mining Equipment and Body Armour from VAT and Customs Duties

• Azerbaijan Exempts Sale of Locally made Cars from VAT

• Azerbaijan exempts sale of locally made cars from VAT

• Ratifies List of VAT-Exempt Imported Outfits, Duties in Freed Territories

• Approval of machinery, technological equipment, materials that can be imported without VAT into territories freed from occupation

• Azerbaijan Cabinet Approves List of Items Exempt From Import VAT

• Azerbaijan approves List of VAT-Exempt Imported Fixed Assets

Fiscalization

• A total of 86.7 million manats of VAT amount has been refunded to consumers

• New generation cash registers for Nakhchivan from August 1, 2023

• 462.4 thousand manats of VAT were returned to consumers in Nakhchivan

• 461.2 Million Manats of VAT Returned to Consumers in Azerbaijan

Fraud / Tax Evasion

• The number of active VAT payers increased by 15 percent
• A total of 86.7 million manats of VAT amount has been refunded to consumers

Importation

• Azerbaijan Exempts Import of De-Mining Equipment and Body Armour from VAT and Customs Duties
• Ratifies List of VAT-Exempt Imported Outfits, Duties in Freed Territories
• Approval of machinery, technological equipment, materials that can be imported without VAT into territories freed from occupation

• Azerbaijan Cabinet Approves List of Items Exempt From Import VAT

• Azerbaijan approves List of VAT-Exempt Imported Fixed Assets

Rate

• Azerbaijan Exempts Sale of Locally made Cars from VAT

Real Estate/Immovable Property

• Azerbaijan Reveals Estimates On VAT Refund For Residential, Non-Residential Plots (VIDEO)

Real Time Reporting/Continuous Transaction Controls

• E-Invoicing In Azerbaijan

Refund

• A total of 86.7 million manats of VAT amount has been refunded to consumers
• New generation cash registers for Nakhchivan from August 1, 2023

• A portion of VAT paid for residential and non-residential areas will be transferred to a virtual “VAT Refund” account.

• Azerbaijan Reveals Estimates On VAT Refund For Residential, Non-Residential Plots (VIDEO)

• Partial refund of VAT paid by consumers for goods and services in Azerbaijan

Registration

• Video instruction about online VAT registration

• The number of active VAT payers increased by 15 percent

Reporting / Compliance

• Does the transfer of VAT to the VAT deposit account after two working days violate the requirement of the legislation?