Russia will introduce tax free system from 2012
Starting in 2012, Russia will have a tax free system, thanks to which foreign tourists purchasing goods in domestic stores will be able to return value added tax (VAT), reports Lenta.ru. First, the tax free system will operate in Moscow and St. Petersburg, and later in Sochi. The program will not apply to citizens of Belarus and Kazakhstan, members of the Customs Union together with Russia.
As the director of the project Tax free Russia Olga Maksimova clarified, 200 retailers will join the program within six months. She noted that tourists will be able to return VAT on the purchase of clothing, shoes, electronics, souvenirs and food.
The participating stores will be marked with a special icon. Documents for VAT refunds issued by a tourist can be dropped into the mailbox of this company after passing through customs at the airport. VAT will be transferred to a bank card or by check to the client’s address within three months. The minimum check amount for tax free will be 10 thousand rubles. Tourists will be able to reclaim VAT in the amount of 15% in the case of the purchase of ordinary goods and 8% in the purchase of children.
The tax free system operates in most developed countries. With it, you can return from 7% to 20% of the purchase amount, depending on the amount of VAT in a particular country.
Starting in 2012, Russia will have a tax free system, thanks to which foreign tourists purchasing goods in domestic stores will be able to return the tax on added ...
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