Successful implementation of the “VAT Refund” project in Azerbaijan leads to significant results in economic transparency

• The “VAT refund” project implemented in Azerbaijan has yielded significant results in terms of transparency in the economy.
• A total of 154.2 million manat of VAT amount has been refunded to consumers.
• The refund applies to goods purchased by individuals engaged in retail trade, public catering, and medical activities, excluding oil and gas products, automobiles, alcoholic beverages, and tobacco products.
• 17.5% of the VAT amount for non-cash payments and 5% for cash payments are refunded to consumers by the client bank.

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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