12:51 - 16.01.2023

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January 16, Fineko/abc.az. According to the latest amendments to the Tax Code, the operation of allotting residential premises to tenants by the Azerbaijan Mortgage & Credit Guarantee Fund is exempt from VAT. Speech is about the exemption of the lease transaction from the 18.0 percent tax. These rules have already come into force since January. The new benefits will lead to a reduction in the cost of renting apartments provided by the Fund.

ABC.AZ reports that this opinion was expressed by MP, economist Vugar Bayramov.

He noted that changes in the law may lead to the fact that these apartments will be offered for rent at lower prices. Bayramov stressed that the rent is provided by the AMCGF for the period of 3 to 25 years in order to purchase apartments in buildings built after 1 January 2013: "This means that a citizen acquires an apartment after paying rent. At that, the age of a citizen on the date of the last payment should not exceed 70 years, and the cost of housing is paid in manats."