BAKU, Azerbaijan, April 14. More than 412 million manat ($242.3 million) have been returned to consumers in Azerbaijan since the launch of the value-added tax (VAT) refund project this year, Trend reports with reference to the State Tax Service under the Ministry of Economy of Azerbaijan.
According to the source, more than 36 million manat ($21.1 million) were returned to consumers from January through March of this year alone.
Moreover, in order to refund a certain part of VAT, the consumer making the purchase or using the service, must be an individual, and the seller providing the service must be a VAT payer.
Meanwhile, in 2022, more than 68.4 million manat ($40.2 million) of VAT were returned to consumers for goods or services purchased via bank transfer.