UBRD Launches Tax Return Service

UrBC, Yekaterinburg, December 15, 2017. The Ural Bank for Reconstruction & Development keeps expanding the range of non-banking services it can offer its customers. Together with TaxFree4U LIMITED, the bank recently launched a mobile tax return application for its private customers; the app is useful to get your tax money back on purchases made in Great Britain, Germany, Italy, France, Spain, and Finland. UBRD cardholders can download their TaxFree4U app via AppStore or Google Play.

According to the bank’s press service, the tax return option is particularly useful around New Year break, when people go traveling around their home country and abroad.

To get your tax return, you need to take a photograph of your receipts and upload the images onto your mobile app. TaxFree4U LIMITED, in their turn, will upload a filled-in tax return form into the app for you. All you need to do is print the form out and send it along with the receipts to the company office; alternatively, you can hand the papers over to a company representative right at the airport. Following some easy procedures, your tax return gets transferred into your bank account within seven days’ time.

The tax return system for non-residents shopping in Russia will come into effect on January 1. The respective decree was signed by Russian Federation President Vladimir Putin. Foreign visitors who are taking home the goods purchased in Russia can get 18% of their money (VAT amount) back.


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