- The “VAT refund” project implemented in Azerbaijan has yielded significant results in terms of economic transparency.
- During the first 10 months of 2023, a total of 126.6 million manat of VAT paid for goods and services by individual consumers engaged in retail trade, public catering, and medical activities (excluding the sale of oil and gas products, automobiles, alcoholic beverages, and tobacco products) has been refunded to consumers.
- It is important to note that certain conditions must be met for the refund of VAT. Firstly, the consumer, seller, or service provider must be the VAT payer. Other conditions include the use of the seller’s new generation cash registers and the inclusion of the sold goods in VAT.
- 30 days after the date of printing the check, 17.5% of the VAT amount for non-cash payments and 5% for cash payments are transferred to the virtual “money box” created by the client bank when opening an electronic account.
Source: taxes.gov.az
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
