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RUSSIA WILL BECOME TAX FREE IN 2019

The international tax-free system will start working all over the country in 2019. Profitable shopping should attract foreigners to Russia.

Minister of Trade and Industry of the Russian Federation Denis Manturov: “The number of foreign guests coming to our country is constantly growing. To boost their buying activity we have launched the tax-free system in 12 regions of Russia. After mastering it, we plan to start the system all over the country in 2019.”

The tax-free system implies that foreigners will get a refund of VAT included in the price of all goods in Russia. The value added tax is 18 %. 11-12% will be refunded to foreign guests.

How does it work? After buying some goods in Russia, there are two options. A foreigner can get a refund at the airport in Russia or in their country in any bank cooperating with Russia. All you need is a passport and a bill for goods. But the money is refunded only for the items bought in special shops accepting the tax free system and only if the total bill is over 10 thousand rubles.

Now the system is working in 12 cities hosting FIFA World Cup 2018TM. Only the members of Eurasian Economic Union (Belorussia, Armenia, Moldova, Kazakhstan, Kirgizia) cannot get the refund. Experts say that this system will help Russian business to generate more profit by encouraging tourists to buy more.