Azerbaijan VAT changes

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.

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