RUSSIA. Leading bank Vneshtorgbank began handling tax free shopping cheques issued by Global Refund last month from 12 May.
The VAT refund cheques – which could be a prelude to a full roll-out of the Global Refund scheme for tourist shopping in Russia – are redeemable by shoppers making purchases in the 37 countries involved in the programme. The tax free shopping cheques are drawn for the value added tax amount included in the price of goods bought at leading department stores and other retailers.
To get the VAT refund in cash, travellers can claim in the usual way at Global Refund branches located at borders (in airports and rail stations). But returning Russians are now able to claim at Moscow-based Vneshtorgbank branches, subject to ID documents and supporting data written on cheques when being drawn.
MORE STORIES ON GLOBAL REFUND
The Moodie Report Interview: Global Refund maps the recovery in travel shopping – 14/08/03
