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Status quo: "Afraid of trouble" and "lack of time" miss the opportunity of shopping tax rebate to save money
1. At present, more than 50 countries and regions around the world have implemented the shopping tax rebate policy. In the European Union, Australia, Japan, South Korea and Singapore, in addition to discount promotions, local governments also provide 5%~20% shopping tax rebate policy, which allows cross-border tourists to enjoy additional consumption discounts, equivalent to 8.5 ~ 10% discount, which is no small discount for China tourists who spend a lot of money.
2. Take Spain as an example. The starting point of tax refund is 90. 16 Euro. Visitors can get a tax refund of 10%~ 15.7% of the consumption amount after handling it. Tourists can return 2000 euros (about RMB 168 17 yuan) when they buy a Chanel bag.
3. However, the reporter of Information Times interviewed several citizens and netizens who had traveled abroad for shopping at random, and most of them couldn't even tell what the tax refund was about.
Except a few people who don't know the tax refund policy, most people know the European shopping tax refund policy, but they don't refund because they are afraid of trouble, don't know how to refund, don't have enough time or even give up voluntarily. Among them, tourists who are "afraid of trouble" or "do not know how to return" account for the majority.
Four options of overseas tax rebate
Recently, while Alipay announced the launch of the European tax rebate business, UnionPay also launched the overseas fast tax rebate for the first time. In other words, so far, there are four tax refund methods for overseas shopping. The first is to return cash (overseas or back to China), the second is to return checks (mailed back to China), the third is to return credit cards used for shopping settlement, and the fourth is to return Alipay accounts.
1. Cash tax rebate: its advantage is that it can be obtained immediately, and countries with preferential consumption tax rebate can handle it after the merchants who support shopping tax rebate spend it; The disadvantage is that the procedures are complicated, and there are often long queues waiting, preparing materials and changing money. And choosing other countries' currencies requires a high currency conversion fee.
2. Check the return: the advantage is that it is more convenient in the early stage. After the consumer fills in the documents at the exit airport and sends them back to the relevant place, the customs officers will mail the cheque to the address left by the consumer. But there are also many shortcomings in the later period. In addition to time-consuming, consumers have to spend more postage to send checks. After receiving the check, the consumer must take the check to the bank for deposit. After deducting all kinds of postage and handling fees, I'm afraid the amount I really get is not much.
3. Credit card tax refund: The simplest tax refund method is to return the credit card. However, if you choose credit card tax refund, the credit card submitted by tourists must be an international credit card, such as a credit card with VISA and MASTER CARD logo. The disadvantage is that it is more troublesome to trace. Even if you apply for a credit card tax refund, you will still worry that the money will not be refunded.
Because in any case, if the tax refund company does not receive the stamped tax refund form (even if the mail is lost), the tax refund company has the right to deduct this tax from your credit card.
5. Moreover, when using the international standard credit card for tax refund, the currency of tax refund is the currency used when swiping the card, and if swiping the card, the US dollar will be refunded. The money will be charged to the credit card account. If the money needs to be used in China, converting it into RMB will generate a currency conversion fee of 1%~2%.
6. However, in view of this situation, UnionPay recently launched the overseas fast tax rebate for the first time. The tax paid by the cardholder after the KTIS tax refund business partner swipes the UnionPay card can be automatically returned to the UnionPay card for shopping settlement when leaving the country. Cardholders can also complete cash tax refund through KTIS's 24-hour self-service tax refund terminals at Incheon, Gimpo and Jeju airports without additional application or registration.
7. Alipay Tax Refund: Consumers can use Alipay to apply for tax refund when shopping in Europe and other places. The tax refund can be paid to Alipay within 10 working days at the earliest, which supports Alipay wallet to query the payment status in real time.
References:
People's Network-Overseas Shopping? Which of the four tax refund methods is more convenient?