Azerbaijan Reveals Estimates On VAT Refund For Residential, Non-Residential Plots (VIDEO)

(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 22. According to 4,761 appeals regarding residential and non-residential plots, the amount of VAT (17.2 million manat, or $10.1 million) in Azerbaijan has been returned to citizens today, the State Tax Service under the Ministry of Economy of the Republic of Azerbaijan said, Trend reports.

In addition, during the VAT refund for the property acquired by citizens, it was revealed that in some cases, the bank details were incorrectly indicated in the applications or that the accounts belonged to other persons. This creates problems when transferring part of the VAT amount to these accounts, which leads to dissatisfaction among citizens.

Therefore, appropriate changes have been made regarding the refund of part of the VAT. In this case, when a request is received for the transfer of funds from the tax authority to an authorized bank, the funds are transferred to the individual's virtual VAT refund account, which can be acquired from an authorized bank. Citizens do not need to enter their bank details.


Trend News Agency

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