12:37 GMT +319 January 2018
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    New Tax-Free Regulations Come Into Effect in Russia

    © RIA Novosti. Aleksei Nikolskiy
    Russia
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    MOSCOW (Sputnik) - Foreigners who visit Russia for business and tourism will be able to obtain a tax refund for purchases made in the country beginning January 1.

    In order to receive a refund, the foreign citizens should buy products worth not less than 10,000 rubles (over $170), including taxes, and receive a receipt for the purchased goods. The amount of the tax refund is expected to stand at 18 percent from the product’s price.

    The tax refund system will not cover the products charged with the excise tax, such as alcohol, tobacco, and cars, among others. The Russian government is entitled to add or remove the type of products covered by the tax free system.

    Until October 2018, when the electronic document management system is expected to be introduced, the tax free system will work in a test mode, only in the cities of Moscow, Sochi and St.Petersburg, the most popular tourist destinations in Russia, as well as in the Far Eastern Primorsky Territory.

    The citizens of the member states of Eurasian Economic Union (EAEU) single market organization will not be able to receive a refund.

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    Tags:
    excise tax, Tourism, goods, system, regulations, economy, tax, Tax-Free, EAEU, Russia
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