BAKU, Azerbaijan, January 2. The provision of non-performing (toxic) assets as part of measures to resolve and rehabilitate insolvent banks, as well as assets provided during a bank’s bankruptcy procedure, will be exempt from value-added tax (VAT) until January 1, 2031, Trend reports.
This issue has been reflected in the law on amendments to the Tax Code, approved by the President of the Republic of Azerbaijan, Ilham Aliyev.
To note, VAT benefits were previously in effect from January 1, 2017, and were scheduled to expire on January 1, 2026.
These amendments came into effect on January 1, 2026.