Baku, Azerbaijan, Oct. 12
By Anvar Mammadov – Trend:
Seven banks will refund the value-added tax (VAT) during the second Baku Shopping Festival, said Azerbaijan’s Deputy Taxes Minister Sahib Alakbarov at a press conference in Baku Oct. 12.
Two other banks – International Bank of Azerbaijan and Azer Turk Bank – joined us, noted the deputy minister.
During the first shopping festival, VAT refunds were carried out in the branches of five banks – Kapital Bank, PASHA Bank, Yapi Kredi Bank Azerbaijan, Bank Silk Way and Azerbaijan Industry Bank.
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)