Currency converter
All news
News Search Topics
Use filter
You can filter your feed,
by choosing only interesting

First results of tax free system operation in Russia to appear by early August

May 23, 2018, 15:18 UTC+3

Russian cities started testing the tax-free system for foreigners in April

1 pages in this article
© Sergei Bobylev/TASS

ST. PETERSBURG, May 23. /TASS/. First estimates of reimbursed taxes within the framework of the tax free system launched in Russia on the verge of the FIFA World Cup will be completed by August, deputy head of the Federal Tax Service Dmitry Satin told TASS on Wednesday.

"Reporting statements for the second quarter will be available by late July, that is, first results can be expected by August," the official said.

Russian cities started testing the tax-free system for foreigners from April 12. "The system is gaining momentum and the demand will grow gradually through popularization among foreign buyers. This will influence on retail points of sale. Deliveries will grow, accordingly entailing the tax refund and budget revenues," Satin noted.

On February 12, Russian Prime Minister Dmitry Medvedev signed a decree on introducing a tax free shopping pilot program at airports in four Russian regions. The document comes into force from the date of its official publication, with the pilot regime lasting until December 31, 2018.

The tax free system allows foreign nationals who are not members of the Eurasian Economic Union to receive a refund of VAT paid when purchasing goods on the territory of the Russian Federation when taking them outside the Eurasian Economic Union.

Show more
In other media
Partner News