Azerbaijan Refunds VAT Exceeding 30 Mln Manats To Non-Cash Real Estate Buyers
(MENAFN- AzerNews)
Ulviyya Shahin Read more
Until April 1st, a total of 30.4 million manats of value-addedtax (VAT) have been refunded to consumers in Azerbaijan forresidential and non-residential areas purchased through non-cashtransactions, based on 7,793 applications, Azernews reports, citing the Ministry ofEconomy.
Along with the State Tax Service, the Ministry has providedinformation on this matter. It is reported that a total of 14,927applications have been submitted by citizens through the relevantportal created by the Internet Tax Department.
Furthermore, individuals engaged in building constructionactivity since the launch of the portal have submitted "InformationForms for each building regarding the provision of residential andnon-residential areas," totaling 1,191, out of which 761 have beenapproved.
To enhance citizen satisfaction, funds refunded since September2023 are transferred to the individual's virtual "VATRefund"account in their client bank. This has eliminated severaldifficulties previously present in this area.
During the investigation of citizen applications, severalinstances leading to delays were observed. These primarily includefailure to apply within 90 days of the last payment date, absenceof e-invoice information in payment designation, payments executedby other individuals, and non-separation of VAT and principalamounts during payment.
Additionally, the State Tax Service recommends the provision ofrelevant information forms to individuals engaged in residentialconstruction activities in accordance with the establishedlegislation.
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