Azerbaijan Refunds 14.8 Million Manat VAT for Cashless Real Estate Purchases to Citizens

• 14.8 million manat of VAT paid for non-cash residential and non-residential areas has been refunded to citizens.
• The project to refund part of the VAT to individual consumers continues successfully.
• In the first 6 months of the year, 2665 applications were received, with 1768 resulting in refunds and 868 rejected.
• Reasons for rejection include not applying within 90 days of the last payment, missing e-invoice details, lack of notarized power of attorney if payment was made by others, and not separating VAT and main amounts during payment.
• Citizens should ensure full payment of property value to the seller’s bank account and VAT to the seller’s VAT deposit account.
• DVX advises construction companies to provide necessary information forms as per legislation.
• VAT refund also applies to properties purchased through state mortgage loans.

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.

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