5 Major Developments in Azerbaijan

5 Major Developments in Azerbaijan

• Azerbaijan Exempts Import of Passport Forms from VAT

• Azerbaijan President Approves Decree Amending List of Materials Exempt From Import VAT for 2023

• Amendments Made to List of Raw Materials and Materials whose Imports are Exempt from VAT

• Is the imports of hybrid cars to VAT?

• Azerbaijan Exempts Sale of Locally Produced Cars from VAT

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Exemption

• Azerbaijan Exempts Import of Passport Forms from VAT

• Azerbaijan President Approves Decree Amending List of Materials Exempt From Import VAT for 2023

• Amendments Made to List of Raw Materials and Materials whose Imports are Exempt from VAT

• Is the imports of hybrid cars to VAT?

• Azerbaijan Exempts Sale of Locally Produced Cars from VAT

• Azerbaijan exempts presentation of products of media entities from VAT

• Planning to Provide Tax Exemption on Media Income

• Azerbaijan amends list of imported raw materials & supplies exempted from VAT

Fraud / Tax Evasion

• The number of tax inspections in Nakhchivan AR has been reduced 10 times

• 412 million manats have been returned to consumers within the framework of the “VAT Back” project

• The number of active VAT payers increased by 3.9 percent
• Project “VAT Back” (stimulation of cashless transactions) is being continued

• VAT back project: More than 400 million manats of VAT were returned to consumers

Importation

• Amendments Made to List of Raw Materials and Materials whose Imports are Exempt from VAT
• Is the imports of hybrid cars to VAT?
• Azerbaijan amends list of imported raw materials & supplies exempted from VAT

Refund

• Amount of VAT Refunds to Consumers in Azerbaijan Exceeds $250M

• 157.1 thousand manat was returned to the residents of Nakhchivan as part of the VAT BACK project

• 412 million manats have been returned to consumers within the framework of the “VAT Back” project

• Project “VAT Back” (stimulation of cashless transactions) is being continued

• VAT back project: More than 400 million manats of VAT were returned to consumers

• Notification: Now you will get back 5% of VAT on cash payments and 17.5% on non-cash payments

Registration

• The number of active VAT payers increased by 3.9 percent

• Increase in the number of active VAT payers

Reporting / Compliance

• VAT law in Azerbaijan

Tax Authorities / Penalties

• The number of tax inspections in Nakhchivan AR has been reduced 10 times