YEREVAN, OCTOBER 13, ARMENPRESS. The legislative changes made in Tax Free system, according to which the minimum purchase rate of foreigners reduced twice (setting 50.000 AMD instead of 100.000 AMD), gave the desired results, Arman Poghosyan – head of the administration methodology, procedures and service department of the State Revenue Committee, told reporters, reports Armenpress.

“Our observations show that the legislative changes expanded the opportunities for foreigners to receive VAT funds, as well as their purchases in Armenia”, Arman Poghosyan said.

Poghosyan said if previously 650 million AMD has been returned to foreigners within a year, in 9 months of this year 420 million AMD has been returned.

According to the procedure, a foreigner presents the VAT refund accounts to customs officer at Tax Free center upon leaving the country. The customs officer can check the physical existence of these products and find out whether they are new or not so that to avoid exporting the used products under new one. There are two ways to get these money back. “At that moment in the airport through the branch of a bank conducting the respective service or the necessary documents are sent to the treasury of the finance ministry via e-mail from where the corresponding funds are transferred to the bank account mentioned by a foreign national”, Arman Poghosyan said, adding that the money is returned in drams.