Armenian halves ceiling for VAT refund to foreign nationals
22.12.2016,
18:01
Under an Armenian government-proposed change to Tax Free law, foreigners who will make purchases in Armenia worth 50,000 drams and more will get the VAT refund at airports when flying back home or when crossing the Armenian overland border, the chairman of the State Revenue Committee Vardan Harutyunyan said today.
YEREVAN, December 22. /ARKA/. Under an Armenian government-proposed change to Tax Free law, foreigners who will make purchases in Armenia worth 50,000 drams and more will get the VAT refund at airports when flying back home or when crossing the Armenian overland border, the chairman of the State Revenue Committee Vardan Harutyunyan said today.
The Tax Free system has been applied in Armenia since arch 1, 2014 for one-time purchases worth more than 100,000 drams.
According to Harutyunyan, the proposed change is aimed at encouraging foreigners and tourists visiting Armenia to make purchases here.
According to the State Revenue Committee, since 2014 to October 2016 more than one billion drams were returned to 7,000 foreigners as VAT refunds thanks to Tax free system.
Tax Free system allows departing foreign citizens to receive back the VAT they paid on goods purchased in the country. The system is only valid if the purchases are made in outlets which are VAT payers. The refund is valid for 90 days from the date of purchase.
The VAT is paid to foreign nationals when they leave Armenia at airports and other entry points. ($ 1 - 480.68 drams). -0-
The Tax Free system has been applied in Armenia since arch 1, 2014 for one-time purchases worth more than 100,000 drams.
According to Harutyunyan, the proposed change is aimed at encouraging foreigners and tourists visiting Armenia to make purchases here.
According to the State Revenue Committee, since 2014 to October 2016 more than one billion drams were returned to 7,000 foreigners as VAT refunds thanks to Tax free system.
Tax Free system allows departing foreign citizens to receive back the VAT they paid on goods purchased in the country. The system is only valid if the purchases are made in outlets which are VAT payers. The refund is valid for 90 days from the date of purchase.
The VAT is paid to foreign nationals when they leave Armenia at airports and other entry points. ($ 1 - 480.68 drams). -0-
