Tax Free system to go live in Russia from Oct. 1

June 15, 2017 TASS
Tax Free
The Tax Free system will go live in Russia from Oct. 1. Source: Ekaterina Lipatova/Kommersant

The Tax Free system for value-added tax refunding will go live in Russia since Oct. 1, 2017, Russia’s Prime Minister Dmitry Medvedev said on June 15.

"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.

Like us on Facebook