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In 2024, over 176 million manat was refunded to consumers under the "VAT Refund" project
In 2024, over 176 million manat was refunded to consumers under the "VAT Refund" project
The implementation of the innovative project "VAT Refund," which involves returning a portion of VAT, continues successfully. In 2024, 176 million 360.4 thousand manat of VAT, paid for goods purchased from retail trade and public catering facilities (excluding oil and gas products, automobiles, alcoholic beverages, and tobacco products), as well as medical services provided by medical institutions and private medical practitioners, has been refunded to individual consumers. As a result of the implementation of the "VAT Refund" project, the share of cashless payments in retail trade, catering, and medical services has significantly increased.
Moreover, as a result of expanding the scope of the "VAT Refund" project, the process of returning a portion of VAT paid for residential and non-residential areas purchased by individual consumers from construction companies, through cashless transactions, continues. In 2024, the volume of refunded VAT for residential and non-residential areas purchased on a cashless basis amounted to more than 26 million 417.7 thousand manat.
The implementation of the innovative project "VAT Refund," which involves returning a portion of VAT, continues successfully. In 2024, 176 million 360.4 thousand manat of VAT, paid for goods purchased from retail trade and public catering facilities (excluding oil and gas products, automobiles, alcoholic beverages, and tobacco products), as well as medical services provided by medical institutions and private medical practitioners, has been refunded to individual consumers. As a result of the implementation of the "VAT Refund" project, the share of cashless payments in retail trade, catering, and medical services has significantly increased.
Moreover, as a result of expanding the scope of the "VAT Refund" project, the process of returning a portion of VAT paid for residential and non-residential areas purchased by individual consumers from construction companies, through cashless transactions, continues. In 2024, the volume of refunded VAT for residential and non-residential areas purchased on a cashless basis amounted to more than 26 million 417.7 thousand manat.