Exterior of a Louis Vuitton store along Nanjing road, Shanghai
Global Blue has partnered with Bank of China to launch a tax-free shopping scheme in Shanghai, allowing foreign travellers and residents in Hong Kong, Macau and Taiwan to enjoy nine per cent in tax savings with participating retailers.
Almost 200 stores in Shanghai have signed up to the scheme, including major department stores like Takashimaya and Parkson as well as luxury brands Chanel, Hermes, Tiffany and Louis Vuitton, among others.
To reclaim VAT, shoppers need to request for a Tax Free Form and VAT invoice at time of purchase and submit these along with passport, receipts and unused purchases for verification at the airport’s customs desk. Once verified, customs will provide a stamp for the form, which can then be produced at the refund counter in exchange for the VAT refund.
The minimum purchase amount to qualify for a refund is RMB500 (US$72.50).
Meanwhile, Global Blue will continue working with Bank of China to increase the number of participating retailers and help them better advise foreign visitors on use of the scheme.
