Azerbaijan, Baku, 9 January / corr Trend I.Khalilova / The Azerbaijan Government authorized the National Bank in the registration of bank operations on deposit accounts, where revenue from the Value Added Tax (VAT) payment will be accumulated.
This authority was given in line with the rules on transfer to the public budget VAT from the goods and services acquired on the basis of invoices, registration on the deposit of the VAT account, circulation of VAT, transactions on mutual settlement of VAT and the transfer to the public budget, which were adopted by the Cabinet of Ministers. The NBA will transfer the data on VAT transfers from payment systems to the Automated Tax Information System of the Finance Ministry.
This order was introduced on 1 January 2008. In accordance with rules, a depository account VAT will open at the Central State Treasury of Azerbaijan, whereas а control account of VAT for registration of remittances of taxpayers will be carried out on the basis of registration cards opened at the Taxes Ministry. Mutual relations between the Bank and Treasury will be regulated on the basis of the agreement.
All payments from VAT collected as a result of the purchase of goods, work and services by the organization with the state participation of no less than 50%, will be remitted to the depositary account.
A unified deposit account No. 14001 has been opened at the State Treasury with the following requisites: the Central State Treasury, Code 210027, taxpayer's ID 1400108191, correspondent account 0132030004944.