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Foreign travelers to enjoy easier VAT refund policy 2016: ministry

Foreign travelers to enjoy easier VAT refund policy 2016: ministry

Taipei, Aug. 29 (CNA) Foreign visitors will be able to claim their value added tax (VAT) refund electronically, as well as at the airports and major shopping malls from the beginning of next year, amid Taiwan's bid to attract more visitors with a convenient VAT refund policy, the finance minister said Saturday. The new policy would eliminate the need for foreign travelers to queue up at airports in the future to get their refund -- a 5 percent VAT paid on purchases of at least NT$3,000 (US$93) on the same day from the same Tax Refund Shopping (TRS)-posted store, said Chang Sheng-ford (???). The procedure to apply for a refund will be handled by Chunghwa Telecom Co. (????), which will charge a transaction fee of 14 percent for each amount refunded, Chang said, explaining that no government expenditure will be accrued from the electronic refund handling. Moreover, in addition to customs service counters at the airports, foreign travelers will be able to claim their refund at major shopping centers, including the Taipei 101 shopping mall, Chang said. The refund period allowed between a purchase and the travelers' departure will also be extended from the current 30 days to 90 days, he said. (By Wei Shu and Lee Hsin-Yin)


Updated : 2021-09-24 08:42 GMT+08:00