Tax free system to include food products in Russia
30.01.2017 82 views
The Russian tax free system pilot project, which is expected to start as soon as 2017, will be extended to all categories of goods, including food staff.
It was supposed earlier that foreign tourists could enjoy the VAT refund for non-food products only, but the Ministry of Industry and Trade insisted on the expansion of the list.
According to the Finance Ministry, the basic parameters included in the draft law on tax free system have “practically agreed.” The minimum purchase amount for VAT refund will be RUB10.000 (c. $166). Some parameters, such as the number of days allowed for the refund, are yet to be finalized, the ministry spokespersons added.
In May 2016, First Vice Prime Minister Igor Shuvalov issued an instruction to develop and present a model of implementation of tax free system (return of 18% VAT on goods bought and taken out by foreigners) in Russia.
Deputy Minister of Industry and Trade of Russia Viktor Evtukhov noted that with the number of tourists who visit Russia growing annually, such a system will be in demand. The tax free pilot project is to start in Moscow and the Moscow region, St. Petersburg and Sochi. Several major luxury-retailers have already announced their intent to join the project.
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