Tax Free system to go live in Russia from October 1

MOSCOW, June 15. /TASS/. The Tax Free system for value-added tax refunding will go live in Russia since October 1, 2017, Russia’s Prime Minister Dmitry Medvedev said on Thursday. "We will also discuss amendments to the internal revenue code required for implementation of the Tax Free system in our country. This is a widespread practice in many countries. Our system will start operations from October 1 of this year," Medvedev said. Foreigners departing from Russia will be able to get VAT refund at the rate of 18% minus charge of the system operator, the prime minister said. "We refer to residents of countries that are not members of the Eurasian Economic Union. Such novelty will also require extra costs this year - about 260 mln rubles ($4.5 mln). We expect the payback in future on account of retail turnover growth," Medvedev said. Read more