BAKU, Azerbaijan, Aug. 17
By Eldar Janshvili – Trend:
Over 20.6 million cash receipts from 375,536 buyers have been registered on the portal for the return of part of the value-added tax (VAT), Trend reports citing the State Tax Service under the Azerbaijani Ministry of Economy.
As of August 10, since the start of the process of returning a part of VAT paid for goods purchased at retail or catering facilities, 466,948 buyers were registered on the mechanism's portal, of which only 80 percent of registered users provided data on their receipts, were entered into the system through the electronic cabinet on the portal.
“The amount of VAT to be refunded on these receipts is 9.8 million manat ($5.7 million), of which 5.9 million manat ($3.4 million) was returned on the already approved receipts. The remaining amount is pending a refund,” the ministry said.
According to the rules, when refunding a certain part of VAT, it’s necessary to take into account certain factors. First of all, the consumers, that is, those who purchases or uses the services, must be an individual. Secondly, the seller or service party must be VAT payers.
At the same time, the purchased goods or services must also be subject to VAT. Another point is the seller's use of new generation cash registers. The refund of part of the VAT is possible only at facilities where the new cash registers are used.
(1 USD = 1.7 manat on Aug. 17)