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Food, medical products temporarily exempt from VAT in Azerbaijan

Food, medical products temporarily exempt from VAT in Azerbaijan

Economy
01 April 2020, 18:38 96
Due to coronavirus pandemic, food and medical products are temporarily exempt from value-added tax (VAT) in Azerbaijan, Trend reports.
This is reflected in the program developed in line with the order of President Ilham Aliyev on a series of measures to reduce the negative impact of the coronavirus pandemic (COVID-19) and the sharp fluctuations caused by it to the global energy and equity markets, the economy of Azerbaijan, macroeconomic stability, employment issues in the country and business entities.
According to the program, in order to more flexibly regulate the addressing the needs of the population in food, medicine and other necessary products (import and sale of certain products), a short-term exemption from VAT is also applied to raw materials and materials related to the production of these products.