The shopping festival being held in Baku for the first time attracts more and more public interest. A wide range of brands joined the festival, which is beneficial to both buyers and entrepreneurs. The festival provides an opportunity to make a profitable purchase. The return of value added tax is attractive not only for tourists, but also for local residents.
“A shopping festival is being held in Baku for the first time. In accordance with international practices, such an event will be held in Azerbaijan as well. We are delighted that a lot of tourists are arriving here. Big discounts are offered in stores and people can make really good purchases. We are happy with this. I want such events to take place more often,” customer Sevil Imanova said.
The shopping festival has become a true celebration for shopaholics.
“Our store offers discounts in the framework of the first Shopping Festival in Baku. For instance, whereas previously, only foreign citizens could get a VAT refund through the "tax free" system, it is now also available for the citizens of Azerbaijan until the end of the festival. We are thus attracting more customers,” says sales adviser Nubar Novruzova.
“This Shopping Festival is intended only for the Azerbaijanis. Normally, it was intended for foreigners, and was attracting them as customers. This Shopping Festival has a feature, I can tell you. If your purchase exceeds 100 manats, then 18% is returned back. A customer can go to a bank and within a day, take the 18% back," sales representative Novruz Aliyev said.
Sales consultant Fatima Abdulkhaligova says her store is also involved in the festival. Customers, including a lot of tourists, show increased interest. At the same time, local residents also benefit from this and the interest towards the festival is growing day by day, she said.
A report on paid-back VAT during the first 10 days of the Baku Shopping Festival has been declared. Recently, the staff of the Ministry of Taxes have written more than 400 invoices.
“The regulations drawn up at the shopping festival are applied both to the citizens of the Republic of Azerbaijan and foreign nationals. In this regard, I would like to note that more than 400 invoices have been registered in about 10 days. As you know, funds are repaid on the basis on an invoice. In this 10-day period funds worth more than 300,000 manats were returned. Approximately 95-96 percent of the amount was paid back to Azerbaijani citizens,” Deputy Minister of Taxes Ilkin Valiyev said.
Mınister of Culture and Tourısm Abulfas Garayev regarded this as a good indicator, which shows significant public interest in the festival.
“To date, funds worth over 350,000 manats have been repaid by the Ministry of Taxes. 10 percent of the amount is returned as VAT, i.e. the total amount of transactions exceeds 3.5 million. These figures are encouraging in comparison with other periods, and we are focusing approximately on these indicators. So far, we can see that public interest in the festival is increasing, especially if we take into account that the festival had been prepared within two months and no significant promotion or advertising was conducted. This shows that people take interest in the festival and are joining it,” the Minister said.
The shopping festival, which will last until May 10, presents musical and entertainment programs to Baku residents and visitors.