Tax free system will be introduced in Russia from 2012. This will let foreign tourists to get value –added tax back on the goods bought in Russia. Now VAT is Russia is 18%.
Tax free will start functioning first in Moscow and St. Petersburg, then in Sochi. The program won’t spread for the citizens of Belarus and Kazakhstan, which are a part of the Customs Union.
About 200 retailers will join the Tax free Russia within half a year. Tourists will get VAT back on acquired cloths, footwear, electric goods, souvenirs and food, said the Director of Tax free Russia, Olga Maximova.
Tax free shops will have a special sign. A tourist should fill in necessary tax free documents and put them in the retailers’ e-mail box after going through customs. The VAT sum will be transferred to the customer’s bank card or via check within three months.
The minimum sum of receipt for getting tax free will be 10 000 Rubles (about $ 330). Tourists will be able to get 8% back from kids goods and 15% from other goods. Later the minimum sum could be reduced.
Introducing Tax free system in Russia will contribute to the country’s attractiveness. Tax free system works in many developed countries. It lets to receive back from 7 up to 20% from the goods price, depending on VAT size in the country.
Author: Irina Fomina