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Successful Implementation of Refund Project for VAT Paid on Housing and Non-Residential Areas

  • 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.

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