Russian Culture Ministry urges Arctic tourism developmentSociety & Culture June 26, 8:27
Scientists call Arctic 'blank space' on world archeology mapBusiness & Economy June 26, 8:13
Anton Siluanov: “...It's worth any price you pay”Business & Economy June 26, 8:00
Russia hopes Astana talks on Syria will yield package of documents on de-escalation zonesRussian Politics & Diplomacy June 25, 20:31
Russians’ real incomes up by 3% in May - Russian finance ministerBusiness & Economy June 25, 18:39
All doping tests of Russian players at 2014 FIFA World Cup are negativeSport June 25, 15:10
Police refrains from calling Newcastle incident a terrorist attackWorld June 25, 13:14
Putin offers condolences to Pakistan’s president over fire victimsRussian Politics & Diplomacy June 25, 12:39
Fire of fuel tank kills 123 people in Pakistan - TVWorld June 25, 7:58
MOSCOW, April 6. /TASS/. Tax-free pilot system planned to be launched in the autumn of this year, will be implemented in 40 stores across Russia, Finance Minister Anton Siluanov said in an interview aired by the Rossiya-1 TV news channel on Thursday.
"First the system will cover biggest cities-Moscow, St. Petersburg, and Sochi. More than 40 outlets will participate in the (tax-free - TASS) system. As the system develops the number of cities involved will be rising," he said.
According to Siluanov, the VAT refund will be applied to purchases worth 10,000 rubles ($178). The launch of the tax-free system is expected to raise the interest to Russian goods, the minister added. "Respectively, (it) will attract more tourists who will be able to buy good in stores, first of all goods made locally, when in Russia," Siluanov said.
Tax free is a system of VAT refund for purchases made by foreign citizens. The refund varies from 7% to 20% from country to country. In end-March Russia’s Finance Ministry completed the tax-free bill, which is expected to be submitted to the State Duma (lower house of parliament) for consideration in end-April or early May. If no problems arise, the tax-free system may be launched starting October 1, 2017.