Tax Free system to go live in Russia from Oct. 1
"We will also discuss amendments to the internal revenue code required for implementation of the Tax Free system in our country. This is a widespread practice in many countries. Our system will start operations from Oct. 1 of this year," Medvedev said.
Foreigners departing from Russia will be able to get VAT refund at the rate of 18 percent minus charge of the system operator, the prime minister said.
"We refer to residents of countries that are not members of the Eurasian Economic Union. Such novelty will also require extra costs this year - about 260 million rubles ($4.5 million). We expect the payback in future on account of retail turnover growth," Medvedev said.