Azerbaijan Sends Draft Law On Increasing Amount Of VAT Refunds To Consumers To Cabinet Of Ministers

2022-09-26 05:14:26

(MENAFN- Trend News Agency)

BAKU, Azerbaijan, September 26. A draft law on increasing the number of VAT refunds to consumers has been sent to the Cabinet of Ministers of Azerbaijan, Deputy head of State Tax Service under the Ministry of Economy Samira Musayeva told Trend.

'The draft law defines rules related to the increase of the number of VAT refunds to consumers,' she said.

During the meeting of Azerbaijani Parliament's (Milli Majlis) Committee on Economic Policy, Industry and Entrepreneurship Musayeva stated that it's planned to increase the number of VAT refunds to consumers next year.

She stressed that the purpose of this was to encourage cashless payments.

Currently, the amount of the VAT refund is 15 percent for cashless payments and 10 percent for cash payments.

More than 305.5 million manat ($179.7 million) was returned to consumers registered on the 'ƏDV geri al' portal for 732.1 million cash receipts until September 2022. And more than 133.6 million manat ($78.5 million) was returned on 303.8 million cash receipts only from January through August 2022.

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