Parliament Adopts Tax Free in General
The Milli Majlis at today's plenary meeting of the extraordinary special session adopted amendments to the Tax Code.
According to the innovation, the Ministry of Taxes shall determine the rules for VAT refund for the goods purchased by foreigners and persons without citizenship, not intended for production or for commercial purposes (the so-called Tax Free).
After the document comes into force, the referred categories of people will be able to apply to the tax authorities with the respective application form to purchase goods with VAT refunds.
The powers of tax inspectors added the following: registration of taxpayers, the rules of which will be established by them, provision of taxpayers with the appropriate software and technical equipment, and the establishment of the necessary infrastructure at customs checkpoints set up in connection with the VAT refund system.
Changes were made to Articles 24.0.7-1, 165.3 and 194.1 of the Tax Code of Azerbaijan.
Recall that in the test mode, the innovation was tested during the Grand Prix of the Baku stage of the Formula-1. --17D-
-
- Politics
- 24 June 2016 18:52
Economics
-
According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
-
The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
-
Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
-
Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
Leave a review