Cashless VAT Payments

• Non-Cash Payment Requirement: Taxpayers registered for VAT in Azerbaijan and entities with taxable transactions exceeding 200,000 manats ($117,647) in any month must make payments exceeding 2% of the previous month’s turnover only in a non-cash manner during that month.
• Threshold for Other Taxpayers: Other taxpayers must conduct settlements in non-cash form if their total monthly transactions exceed 15,000 manats ($8,823).
• Monitoring and Legal Compliance: The new rules also apply to payments to municipalities and include specific thresholds for non-cash transactions, with the Legal Department of the Ministry of Economy tasked to register this decision with the Ministry of Justice.

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.