- Azerbaijan will double the VAT registration threshold from AZN200,000 to AZN400,000 for businesses using cashless transactions via point of sale terminals.
- The threshold remains AZN200,000 for businesses conducting only cash transactions.
- For VAT registration, non-cash transactions are counted at half their value, while cash transactions are counted in full.
- Businesses receiving only non-cash payments must register for VAT if turnover exceeds AZN400,000.
- For mixed payments, the sum of full-value cash and half-value non-cash transactions is used to assess if the AZN200,000 threshold is met.
Source: answerconnect.cch.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.
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