​TANAP to be exempt from VAT

Baku. 22 October. REPORT.AZ/ All properties and services that will be provided to the project company for construction and alteration works for the Trans-Anatolian Natural Gas Pipeline Project (TANAP) will be exempt from value added tax since January 1, 2015.

Report informs citing Daily Sabah, the amendment of the international agreement was published in the Turkish media. Accordingly, the liabilities related with the reserve fund imposed by the international codes will not apply for the company undertaking the works related with the Project, its branches or affiliates. VAT exemption will come into force on January 1, 2015.