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The Customs Service will spend 46 mln rubles for development of tax free system



The Federal Customs Service allocated 46 mln rubles in 2018 for preparation of the infrastructure for the launch of the tax-free system. According to the Head of FTS Vladimir Bulavin, these funds will cover purchase of equipment and software for the system. Then the information exchange system will be created between the FTS and tax free operators.

It should be reminded that President Vladimir Putin signed a bill introducing tax free system in Russia into law last year in November. The Bill came into effect from the first day of the new year, but some of its regulations will become valid from October 1, 2018.

Today the tax free system is functioning in about 130 countries of the world. It is intended for refunding VAT paid for the goods purchased by foreigners within a country. As a rule, tax free amount is 7 to 22 per cent of the purchase price. In Russia VAT is 18 per cent, subsequently, the same amount will be returned to the foreigners.

Minpromtorg is making the lists of the shops where foreign citizens will be able to receive special tax-free shopping cheques for refund of VAT paid during making purchases in Russia.

Source: Rossiyskaya Gazeta

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