12:07 - 3.11.2022

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November 3, Fineko/abc.az. In order to stimulate non-cash transactions in Azerbaijan, a refund of 17.5% of the VAT paid is planned from next year.

ABC.AZ reports that this was reflected in the proposed amendment to the Tax Code, discussed at today’s meeting of the Milli Majlis Committee on Economic Policy, Industry & Entrepreneurship.

According to the draft, in order to stimulate non-cash transactions, it is proposed to reduce the refundable VAT from 10% to 5% for cash transactions, and increase it from 15 to 17.5% for non-cash transactions.