TASHKENT, July 20 (Xinhua) -- Uzbekistan has approved new regulations regarding value-added tax (VAT) refunds for foreign citizens purchasing goods within the country, according to a decree published on the national legal portal Lex.uz Monday.
Under the new policy, the minimum purchase threshold for a VAT refund has now been lowered from 1 million sums (about 83 U.S. dollars) to 300,000 sums (about 25 U.S. dollars).
The scope of eligible goods has also been expanded to cover virtually all product categories, except food products.
The timeframe for non-cash transfers has been shortened as well. VAT refunds will now be credited directly to a foreign citizen's bank card or account within three working days.
Departing foreign visitors now have the option to receive their refund in U.S. cash upon leaving the country. While 85 percent of the tax amount will be paid to the traveler, the remaining 15 percent will be retained by the system operator Soliq Servis as a commission.
