Banks gets delay for implementation of VAT on electronic payments

Baku. 10 January. REPORT.AZ/ Financial Markets Supervision Chamber (FMSC) and the Ministry of Taxes have agreed that commercial banks will not charge VAT in e-commerce operations.

Report informs, banks were allowed to postpone for a period of one month for introduction of VAT on electronic payments.

Aaccording to the latest amendment to the Tax Code, for purchase of services from foreign residents by means of plastic cards the Azerbaijani banks will be charged VAT at 18%.