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Vneshtorgbank starts handling Tax-Free Shopping cheques

17 May 2004
Starting from 12 May 2004, Vneshtorgbank starts collecting Tax Free Shopping cheques issued by Global Refund company.
Those cheques are drawn in favour of natural persons shopping at retailers located anywhere worldwide, which entered into an agreement with Global Refund. Tax Free Shopping cheques are drawn for a value added taxount included in the price of goods bought at those department stores. If those goods are taken out from countries of the purchase, non-residents aliens are entitled to get a refund with respect to the relevant VATount paid in purchasing such goods.
To get the VAT refund in cash, private individuals can address not only to Global Refund branches located at the border (in airports, railway stations) of countries where cheques were drawn, but also to Moscow-based Vneshtorgbank`s sub-offices located at 4, Ul. Malaya Molchanovka and 60, korp. 2, Leningradsky Prosp.
Tax Free Shopping cheques are paid in legal tender of the Russian Federation for a full VATount specified in any particular cheque due and payable free of commission. Tax Free Shopping cheques are paid against ID documents and supporting data written on cheques when being drawn.

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