If 50,000 VAT was paid when buying a house, 15,000

According to the change in the law, a part of the VAT will be refunded when buying an apartment. Musavat.com informs that MP, economist Vugar Bayramov is on the portal for this purpose (https://new.e-taxes.gov.az/eportal/az/login/) said that it was put into use. He noted that the portal was launched for the preparation of electronic receipts for the refund of a part of the paid value added tax for residential and non-residential properties purchased without cash and for applications by buyers. But how will the VAT be refunded during the purchase and sale of real estate?! V. Bayramov noted that the VAT refund is applied when both residential and non-residential property is purchased without cash: "Currently, property sales are carried out without cash, that is, through banks. In this case, the refund will be applied regardless of the property price (including VAT) on the submitted electronic invoice. The refund will be transferred to the buyer's bank account. For example, if the buyer paid 50,000 manats of VAT when buying an apartment, 15,000 manats of that amount will be returned to the buyer's account. With this, a part of the funds paid by the buyer will be returned to him as a bonus." The deputy added that the VAT refund for the property purchased on credit is possible after full payment: "The VAT refund is refunded if the value of the property is fully paid to the seller without cash. If the purchase of the property is paid for in installments, the VAT is transferred to the buyer's bank account by the authorized bank after the full value of the property is paid in cashless manner.

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