Deputy Minister: VAT kiosks to operate during Baku Shopping Festival

By Azernews

By Kamila Aliyeva

The Taxes Ministry of Azerbaijan has set up special VAT kiosks [for registration of Tax Free documents] during the Baku Shopping Festival scheduled for April 10-May 10.

Deputy Minister Sahib Alakbarov said that buyers need to submit a cash receipt for the purchase to these special places and VAT refund will be paid either in cash or in non-cash through [transfer to a card or bank account] within ten days.

"The Taxes Ministry is the operator for VAT refunds to buyers of the goods at the Baku Shopping Festival. We have completed the preparatory work – to date we have already installed special VAT kiosks in six locations. In addition, we have prepared software that has been tested,” Alakbarov said.

A list of banks, through which VAT refunds will be made, was defined together with the Culture and Tourism Ministry, as well as the Financial Market Supervisory Body (FMSB), Alakbarov said noting that the size of the returned funds will amount to 10-13 percent of the purchase price.

The return of VAT applies to purchases made only in the stores that have a special logo of the Shopping Festival, which means that these shopping facilities were registered as participants in the stimulating program.

The VAT refunds can be received in the branches of five banks, including Kapital Bank, PASHA Bank, Yapi Kredi Bank Azerbaijan, Bank Silk Way and Azerbaijan Industrial Bank.

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].

The Shopping Festival will not cover excise goods, gold, food and cars, but only production of light industry.