12:48 - 18.11.2022

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November 18, Fineko/abc.az. In order to stimulate non-cash transactions in Azerbaijan, the refund of 17.5% of VAT paid in non-cash form is planned from next year.

ABC.AZ reports that such a draft of amendments to the Tax Code was submitted for discussion at today's meeting of Milli Majlis.

According to the draft, the recoverable part of VAT on non-cash transactions is increased from 15% up to 17.5%, and the recoverable part of VAT on cash transactions is reduced from 10% to 5%.

After discussions, the draft amendments were put to the vote and adopted in the 1st reading.