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Baku Shopping Festival kicks off to please shopaholics

10 April 2017 10:47 (UTC+04:00)
Baku Shopping Festival kicks off to please shopaholics

By Amina Nazarli

The first-ever Baku Shopping Festival kicked off in Azerbaijan’s capital on April 10.

The Festival offers a wide range of shopping options that are available across the city right from massive malls to specially designed shops. Besides discounted shopping, there are other activities for travelers like music concerts, fashion shows, children’s events and lots more to double the fun.

The Festival that will run until May 10 is aimed at increasing the economic and tourist potential of Azerbaijan, as well as stimulating the country’s trade turnover by encouraging entrepreneurship.

Alongside foreigners, Azerbaijani citizens will also have a chance to benefit Tax-free system during the Festival. Buyers can obtain a refund of the VAT paid on the goods purchased during the day, when the purchase was made. VAT refund can be obtained either in cash or in non-cash by transfer to a card or bank account.

Facilities that have joined the VAT refund system will have special stickers entitled “Baku Shopping Festival - Tax Free.” VAT will be refunded only to those buyers, who purchased the goods at the facilities with such a sticker.

During the festival, a buyer [Azerbaijani citizens or foreigners] can have the VAT refunded at the banks in case the amount of the purchased goods exceeds 100 manats ($58) [including VAT].

VAT can be refunded in the 15 branches of five banks - Kapital Bank, PASHA Bank, Yapi Kredi Bank Azerbaijan, Bank Silk Way and Azerbaijan Industry Bank.

Besides, the Taxes Ministry of Azerbaijan has set up special VAT kiosks [for registration of Tax Free documents] during the Festival.

The Tax Free system does not apply to excisable goods and foodstuffs; medications and medical equipment; products, exempt from VAT in the country; goods which may require an export license; raw or ungraded precious gemstones; precious metal ingots; goods exported from the territory of Azerbaijan in an unaccompanied baggage; vehicles and spare parts.

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Amina Nazarli is AzerNews’ staff journalist, follow her on Twitter: @amina_nazarli

Follow us on Twitter @AzerNewsAz

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