Nakhchivan sees 2.1-fold surge in VAT refunds to consumers

The amount of VAT returned to consumers in the Nakhchivan Autonomous Republic of Azerbaijan has increased by 2.1 times during the first seven months of 2024, compared to the same period last year.

From January through July 2024, the VAT refunds in Nakhchivan totaled 800,900 manats ($471,117).

In July 2024 alone, the VAT refunds to consumers increased by 55.6 percent compared to July 2023, amounting to 130,100 manats ($76,529).