- 34.6 million manats of VAT refunded to citizens for non-cash transactions in residential and non-residential areas
- Project for refunding a portion of VAT successfully ongoing under the Ministry of Economy and the State Tax Service
- 16,329 applications submitted through the portal from November 2022 to July 2024, resulting in the payment of 34.6 million manats to citizens
- 2,597 applications received through the portal in the first 6 months of the year, with 9.2 million manats paid to citizens
- 1,398 “Information Forms on Residential and Non-Residential Areas” submitted by individuals engaged in building construction activities, with 917 forms approved
- VAT refund includes residential properties financed through state mortgage loans for building construction activities
- Funds transferred to the individual’s virtual “VAT account” at the client bank starting from September 2023
- Reasons for refusal include failure to apply within 90 days of the last payment date, discrepancies in e-invoice information, payments made by third parties, and non-separate payments for VAT and principal amounts
- Recommendations for individuals engaged in building construction to submit information forms in accordance with legislation
- Tax authorities conducting monitoring and analysis related to building construction activities
Source: taxes.gov.az
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
