Number of Baku Shopping Festival’s participants up by almost threefold

Business Materials 12 October 2017 16:02 (UTC +04:00)

Baku, Azerbaijan, Oct. 12

By Anvar Mammadov – Trend:

The number of participants of the second Baku Shopping Festival has increased by 2.8 times as compared to the previous festival, Azerbaijan’s Minister of Culture and Tourism Abulfas Garayev said at a press conference in Baku Oct. 12.

He noted that 578 companies have been registered for participation in the second Baku Shopping Festival.

During the previous festival VAT refund was made by 172 participants, but their number has already reached 467 as part of the second shopping festival, said the minister.

Moreover, 111 companies that do not carry out VAT refunds have been registered this time, but they are the partners of the festival, noted Garayev adding that during the first festival, there were only 33 such partners.

“Therefore, if only 205 companies participated in the previous festival, this year their number has risen by almost threefold,” added the minister.

Garayev noted that supermarket chains, as well as pharmacies will take part in the second Baku Shopping Festival for the first time.

Two supermarket chains – Neptun and Bravo – have also become the festival’s participants, said the minister adding that VAT refunds there will not cover food products.

The 2nd Baku Shopping Festival, which aims to turn Baku into a regional trading center, will be held October 15-November 15.

During the festival, customers in more than 400 stores of Baku will be able to purchase clothes, electronics, household appliances, furniture, perfumes and cosmetics, as well as other products from leading global brands within special campaigns and with discounts.

In addition, the Tax Free system will be applied to the goods purchased. In addition, during the festival, it is planned to organize interactive games, fashion shows and other entertaining activities.

Azerbaijani and foreign guests, who made purchases worth more than 100 manats in stores labeled with the “Baku Shopping Festival - Tax Free” stickers, get an opportunity to return a certain part of the value-added tax (VAT) from the amount spent. VAT refund is only possible in the stores labeled with these stickers. The certain part of the VAT amount can be refunded in cash or by transfer to a customer’s card/bank account.

The 2nd Baku Shopping Festival is organized by the Azerbaijan Convention Bureau under the Ministry of Culture and Tourism of Azerbaijan.

For the first time, the Baku Shopping Festival was held April 10-May 10, 2017.

(1.7003 AZN = $1 on Oct. 12)