Now VAT for food products not to be applied temporarily


April 1, Fineko/abc.az. The Ministry of Economy of Azerbaijan announced the measures aimed to diminish the impact of the coronavirus pandemic and support businesses.

ABC.AZ reports that among the measures are as follows:

* Temporary exemption from VAT for certain products necessary for food and medical needs of the population (exemption of imports and sales of certain products from VAT).

* Exemption of raw materials and materials related to the production of these products from VAT with the purpose to regulate more flexibly population's demand for foods, medical and other necessary products for the shortest possible time.

* Raising of donations made by individuals and legal entities to the Fund to Support the Fight Against Coronavirus for the purpose of profit (income) tax.

* Collection of VAT at a zero (0) rate for the provision of gratuitous services provided by the taxpayer in connection with the prevention of the epidemic.

By Elmir Murad