Azerbaijan refunds VAT exceeding 30 mln manats to non-cash real estate buyers
Ulviyya Shahin
Read moreUntil April 1st, a total of 30.4 million manats of value-added tax (VAT) have been refunded to consumers in Azerbaijan for residential and non-residential areas purchased through non-cash transactions, based on 7,793 applications, Azernews reports, citing the Ministry of Economy.
Along with the State Tax Service, the Ministry has provided information on this matter. It is reported that a total of 14,927 applications have been submitted by citizens through the relevant portal created by the Internet Tax Department.
Furthermore, individuals engaged in building construction activity since the launch of the portal have submitted "Information Forms for each building regarding the provision of residential and non-residential areas," totaling 1,191, out of which 761 have been approved.
To enhance citizen satisfaction, funds refunded since September 2023 are transferred to the individual's virtual "VATRefund" account in their client bank. This has eliminated several difficulties previously present in this area.
During the investigation of citizen applications, several instances leading to delays were observed. These primarily include failure to apply within 90 days of the last payment date, absence of e-invoice information in payment designation, payments executed by other individuals, and non-separation of VAT and principal amounts during payment.
Additionally, the State Tax Service recommends the provision of relevant information forms to individuals engaged in residential construction activities in accordance with the established legislation.
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