CHINA. Global Blue has partnered with Bank of China to launch a tax free shopping scheme for foreign visitors in Shanghai.
Almost 200 stores have already signed up to the scheme, with international visitors able to save 9% on their purchases.
The minimum purchase amount to qualify for a VAT refund is CNY500 (US$72.41) and the scheme is available to all foreign visitors and residents from Hong Kong, Macau and Taiwan.
To claim the VAT refund, shoppers must request a tax free form and VAT invoice from shop staff when paying for purchases. When departing they must then visit the Customs desk at the airport and present the completed form and VAT invoice, passport, receipts and unused purchases for verification.
Once verified, Customs will provide a stamp for the tax free form and the refund can be claimed at the refund counter at the airport.
Shops signed up to the scheme include department stores, luxury brands such as Chanel, Hermes, Tiffany and Louis Vuitton, high street names, and local retailers.
Global Blue said it would work with Bank of China to increase the number of retailers signed up to the scheme. It will also help participating retailers to better advise foreign visitors using the tax free shopping service.
