Tuesday, January 10 2017 17:03
Naira Badalian

Changes in Tax Free :Minimum spend for VAT refund reduced twice - from 100 down to 50 thousand drams

Changes in Tax Free :Minimum spend for VAT refund reduced twice -   from 100 down  to 50 thousand drams

ArmInfo. By government decision, the minimum spend for  tax-free purchases by foreign visitors for claiming VAT back was set  50 000 drams instead of 100 000. It was also clarified that spelling  errors in the names and surnames of foreign citizens in VAT-refund  form cannot serve as a basis for rejecting VAT refund if other  prerequisites of the refund are met. Changes are in effect from  January 1, 2017.

Tax Free launched in March 2014. Foreign citizens travelling to  Armenia can get VAT refund from purchases made in our country, upon  leaving. This is effective only when shopping from firms paying VAT,  provided there is a Tax Free form or Tax Free cash register form and  receipt, and the value of purchases made during a day at the same  shop (taxpayer) exceeds 50 000 drams (previously 100,000), VAT  exceeds 8 335 drams (previously 16 670), and the goods aren't used  before exportation and maintain factory packaging. The possibility  remains in effect within 90 days after the purchase. Exceptions for  using Tax Free include food items, cigarettes, medicine, cultural  assets, vehicles or parts thereof. The VAT paid for purchased goods  is returned to foreign tourists upon leaving Armenia at airports and  other border checkpoints. Foreign individuals can get the refund via  bank transfer within 30 days or in cash from banks operating at the  checkpoints. 

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Government Bonds

Issue volume

10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

Volume of satisfied bids

200 million

Yield at cut-off price

 5.8314%

Maximum yield

 5.8314%

Мinimum yield

 5.8314%

Weighted average yield

 5.8314%

Number of participants

2

The maturity date of T-bills

03.02.2020

ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000