Over 60 million manats were refunded to residents through 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 has been 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.

Despite the fact that only a year and a half has passed since the launch of the project, 100 million manats have already been reimbursed to the population. Approximately 60 million of this amount is refunded through BirBank, the most popular mobile banking app in Azerbaijan, and 40 million — through the portal https://edvgerial.kapitalbank.az/.

Kapital Bank and the BirBank mobile app were the first financial partners of this initiative. For better experience, a special section called “ƏDV geri al” (“VAT Refund”) has been created in the “Bonuses” menu of BirBank. With the help of the BirBank’s QR code scanning option, users can add receipts to the portal in an easier and more convenient way.

Funds placed on the virtual wallet through BirBank can be transferred to payment cards of local banks or used for cashless payments. To do so, the phone number registered in the BirBank app must be the same as registered on the portal.

It should be noted that in order to refund part of the VAT, the consumer has to submit a request through the portal https://edvgerial.kapitalbank.az/ or the BirBank application within 90 days after receiving the receipt from the cash register. The 12-digit identifier of the receipt should be entered by the user on the portal or the receipt’s QR code should be scanned via BirBank.