Azerbaijan VAT changes
- Jan 5, 2017 | Richard Asquith
Azerbaijan introduced a range of VAT amendments to its TAX code. These included:
- Where e-services are provided to a local consumer by a non-resident entity, the local bank processing the payment must withhold the VAT on the payment.
- Electronic invoices are required to be issued by all businesses with a taxable turnover above AZN 200,000 per annum.
- VAT exemptions have been granted to imports and production of certain basic foodstuffs.
- VAT refunds from the state will be guaranteed for 20 days, down from the current 45 days. This is subject to any audits by the tax authorities.