Russian products are proposed to be included in the tax free system
Источник: The DairyNews
The Ministry of Industry and Trade has addressed to the Ministry of Finance and government office with the proposal to allow the return of part of the taxes from locally purchased food reports The DairyNews with reference to information of "Kommersant". We will remind, the experiment on introduction of tax free system in Russia will begin on 1 January of the following year.
"The Ministry of Industry and Trade considers it inappropriate to limit the assortment list of goods for which VAT is compensated, thus defining food and non-food products of Russian and foreign production that are in free circulation within the EEU",— the document says.
Today, VAT on food products is not returned, for example, in the UK, the Czech Republic, Cyprus, Bahamas. On the Bahamas the tax free system does not include alcoholic and tobacco products, tobacco taxes are not returned in France and Belgium. Each country has its own list of goods on which VAT is not refundable to non-residents, but the wider list of products in tax free, the more effective the system works and the greater benefit is received by the business, analysts say.
The General Director of "Globus Gourmet" Andrey Jakovlev in comments to "Kommersant" declared that he hardly believes in the effectiveness of the system of tax free in relation to food. "In our store in TSUM we do not see a big demand for vodka and caviar among foreigners," he says, explaining that these goods can be purchased duty free in other countries without worrying for their transportation. The representative of the "Azbuka Vkusa" Andrew Golubkov considers that the introduction of tax free in the food group may have some influence on demand at the Central stores situated near tourist flows, however, he does not expect a serious growth of sales in this regard in the network.
Today, foreign tourists spend on shopping in Russia about 10% of their budget, according to the Ministry of Industry and Trade. According to the Ministry, the implementation of the experiment in full will have a positive impact on the dynamics of trade turnover. "Trade may rise by the amount from 33 million to 500 billion rubles per year",— stated in the letter of the Ministry. As an example they draw the experience of France and Latvia, where after the introduction of the tax free sales grew by 6% and 95% respectively.
Read full article in Russian on DairyNews.ru
Today, VAT on food products is not returned, for example, in the UK, the Czech Republic, Cyprus, Bahamas. On the Bahamas the tax free system does not include alcoholic and tobacco products, tobacco taxes are not returned in France and Belgium. Each country has its own list of goods on which VAT is not refundable to non-residents, but the wider list of products in tax free, the more effective the system works and the greater benefit is received by the business, analysts say.
The General Director of "Globus Gourmet" Andrey Jakovlev in comments to "Kommersant" declared that he hardly believes in the effectiveness of the system of tax free in relation to food. "In our store in TSUM we do not see a big demand for vodka and caviar among foreigners," he says, explaining that these goods can be purchased duty free in other countries without worrying for their transportation. The representative of the "Azbuka Vkusa" Andrew Golubkov considers that the introduction of tax free in the food group may have some influence on demand at the Central stores situated near tourist flows, however, he does not expect a serious growth of sales in this regard in the network.
Today, foreign tourists spend on shopping in Russia about 10% of their budget, according to the Ministry of Industry and Trade. According to the Ministry, the implementation of the experiment in full will have a positive impact on the dynamics of trade turnover. "Trade may rise by the amount from 33 million to 500 billion rubles per year",— stated in the letter of the Ministry. As an example they draw the experience of France and Latvia, where after the introduction of the tax free sales grew by 6% and 95% respectively.
Read full article in Russian on DairyNews.ru
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