Baku Shopping Festival to bring 50M manats to country, says minister

The Baku Shopping Festival has begun bringing dozens of debuts to the city and will run at select malls across the city until May 10. The first-ever festival will offer discounts across a wide range of stores in addition to musical entertainment, raffle prize draws and fashion shows.

The official opening ceremony held on April 10 featured a new show by the State Dance Ensemble -"My Azerbaijan" and the premiere of oneact national ballet "Koroglu”.

Besides, an open-air ceremony was held in Icherisheher -- the concert program featured Azerbaijani national songs and dances, the performance of the rhythm group "Natig" and "Gaya" ensemble.

The opening ceremony in Icherisheher had a special meaning - the pearl of Azerbaijani architecture and culture attracts great attention of foreign guests.

Wooden "houses" were set on the square near the "Gosha Gala" gate, where everyone can buy gifts and souvenirs, taste dishes of national cuisine, as well as sweets, fresh pastries and have a cup of fragrant tea.

This festival is organized in order to promote trade and commerce in Azerbaijan, and is a colorful event not only in the country, but also in the whole region, said Abulfas Garayev, the Culture and Tourism Minister.

Garayev, who was attending the official opening ceremony of the Baku Shopping Festival at the Heydar Aliyev Palace on April 10, said that the festival is the first in the CIS area.

When organizing the festival, the organizers studied world experience, according to the minister.

"Such shopping festivals are held in Dubai, Istanbul, Singapore and very positively affect the tourist flow,” Garayev said.“For the first time in the world, the Tax Free system will be available not only for foreign tourists, but also for Azerbaijani citizens. This is a step for stimulating not only tourism, but also trade in general.”

Garayev further reminded that the festival will be held twice a year. “According to our forecasts, within the framework of this trade festival, about 50 million manat ($29.9 million) will be transferred to the budget. I think this is a great opportunity, but it should be realized professionally, sensitively and carefully," he said.

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.

Facilities that have joined the VAT refund system will have special stickers entitled “Baku Shopping Festival - Tax Free.”VAT will be refunded only to those buyers, who purchased the goods at the facilities with such a sticker.

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].

VAT can be refunded in the 15 branches of five banks - Kapital Bank, PASHA Bank, Yapi Kredi Bank Azerbaijan, Bank Silk Way and Azerbaijan Industry Bank.

Besides, the Taxes Ministry of Azerbaijan has set up special VAT kiosks [for registration of Tax Free documents] during the Festival.

The Tax Free system does not apply to excisable goods and foodstuffs; medications and medical equipment; products, exempt from VAT in the country; goods which may require an export license; raw or ungraded precious gemstones; precious metal ingots; goods exported from the territory of Azerbaijan in an unaccompanied baggage; vehicles and spare parts.

The most beloved stores of shopaholics such as Albatros, Alexander McQueen, Bally, Balenciaga, Burberry, Burberry kids, Chloe, Corneliani, Dsquared, Dolce & Gabbana, Dolce & Gabbana Junior, Diesel, Diane Von Furstenberg, Emilio Pucci, Emporium man, Emporium Young,