Azernews.Az

By Sara Israfilbayova

Azerbaijan expects to see a huge number of foreign tourists during the upcoming first Baku Shopping Festival to be held from April 10 to May 10.

Addressing the third meeting of the Tourism Council Minister of Culture and Tourism Abulfas Garayev said that the country expects to receive a flow of tourists from Russia, Kazakhstan, the United Arab Emirates, Saudi Arabia, Qatar, Oman, Bahrain, Iran, Turkey and Georgia during the forthcoming Baku Shopping Festival.

In three months of this year more than 557,000 foreign tourists visited Azerbaijan. The majority of tourists are from Russia, Georgia, Iran, Turkey and Arab countries.

The essence of festival is that buyers will be refunded an amount equal to value-added tax (VAT) on the value of the purchased goods. This rule will be applied only in the shops of Baku, which have a special registration and received a mark of distinction.

The festival has its website functioning from March 1 and the registration will continue throughout the event.

During the Festival, many city malls will offer special discounts, and temporary pop-up shops will present a broad range of Azerbaijani and foreign brands. On top of this, a range of entertainment events will be held for buyers, including concerts, exhibitions, fairs, music nights, and fashion shows.

Buyers can obtain a refund of the VAT paid on the goods purchased during the day, when the purchase was made. VAT refund can be obtained either in cash or in non-cash by transfer to a card or bank account.

During the festival, a buyer [Azerbaijani citizens or foreigners] can have the VAT refunded at the banks in case the amount of the purchased goods exceeds 100 manats ($58) [including VAT].

The Shopping Festival will not cover excise goods, gold, food and cars, but only production of light industry.

Tax-free shopping became available in the country from July 2016 after the adoption of the relevant law in the Parliament. And now while coming to Azerbaijan on a tourist visa, tourists can take advantage of Azerbaijan's tax- free system.

Foreign citizens can benefit from Tax Free system, if the cost of purchased goods per one e-tax invoice is not less than 300 manats, including VAT. The goods should be taken out of Azerbaijan’s territory within 90 days from the date of purchase.

Tourism is one of the priorities of the non-oil sector. Successfully implemented projects, state programs and reforms stipulate the duration of the success that Azerbaijan has gained over the last 10 years and gives an opportunity of recognition in the world as a country with a dynamically developing economy.

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