Tax-free system will be created in Russia

Tax-free system will be created in Russia

Tax Free system will enter in force in Russia in 2012, – informs the agency “RIA Novosti”. Tax Free in Russia will give foreigners an opportunity to get a refund of VAT after returning home.

This system will make shopping in Russia more affordable for foreigners and will increase the attractiveness of the country in the eyes of foreign tourists, according to its creators.

“Tax Free is a program that will allow foreign buyers coming to Russia to get a VAT refund. Implementing such a system in our country will increase the number of tourists and interest them in shopping in Russia”, – the media quote the words of Valentine Enin CEO of Mark Prior Company.

At first the Tax Free system will be launched in Moscow and St. Petersburg and then in Sochi.

The process of preparation of documents for participation in the program will be held in the same way as in Europe: if the receipt is more than 10 thousand rubles, the buyer with the salesperson fills in the passenger customs declaration. Then, at the airport, the buyer will have to produce goods, receipt and declaration at a special counter. The document is stamped, and then the passenger should send it by mail to the company “Mark Prior”. The money will be refund to the tourist to the banking card or by check within three months.

Tax Free system will work when buying clothes, electronics, shoes, baby items, etc. Refund will be from 8% to 15% of the amount of receipt.

There is no list of stores participating in the campaign so far, but the creators hope that within six months about 200 retailers will join the system. Shops participating in the program will be marked with an icon.

Monday, December 26, 2011