- Azerbaijan has implemented a method for refunding VAT on factoring operations.
- Factoring instruments are used to provide financial liquidity to businesses and minimize obstacles associated with receiving cash from buyers.
- The principal value of factoring transactions is paid to the credit institution rather than the seller.
- Restrictions on VAT refunds are imposed, but recent Tax Code revisions have incorporated the possibility of refunding VAT amounts paid when using a factoring instrument.
Source: menafn.com
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.
Latest Posts in "Azerbaijan"
- 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
- VAT Refund of 17.7 Million Manat for Real Estate Purchases Successfully Returned to Citizens
