Over 125 million manats is refunded to the population via Birbank
In May 2020, a mechanism for recovering a certain part of the VAT paid by consumers (individuals) for goods (with the exception of oil and gas products) bought at retail or public catering facilities was launched. Refund of 15% of the VAT amount for cashless payments and 10% of VAT for cash payments is provided. The key goal of this project is to increase transparency in the tax system, as well as to stimulate cashless payments.
In the 2 years since the launch of the project, about 200 million manats have been returned to the population, of which 125 million are accounted for by Birbank users. The number of returned checks is 500 million, 350 million of them were registered through Birbank.
The first financial partner of the project was Kapital Bank and Birbank, in the Bonuses menu of which a special ƏDV geri al (VAT refund) section was created. Birbank allows users to send a VAT refund request in a more convenient and faster way by scanning the QR code of a sales check.
Returned funds can be transferred through Birbank to payment cards of local banks or used for cashless payments. In this regard, both Birbank and the ƏDV geri al portal must be registered using the same phone number.
The consumer must send a request for a refund of part of the VAT within 90 days after receiving a check from the cash register through the portal https://edvgerial.kapitalbank.az or Birbank. To register a check, consumers must enter a 12-digit fiscal code in the personal cabinet of the portal or scan a QR code using Birbank. In addition, BirKart ƏDV card enables to get double VAT refunds. To that end, customers have to register a card in Birbank and make cashless payments.