EYSINS, Switzerland, November 28, 2016 /PRNewswire/ --
- Tax Free Shopping has been introduced to Shanghai, allowing foreign travellers to reclaim VAT on purchases
- Global Blue and Bank of China have collaborated to offer the service
- International shoppers can save with major brands and retailers including Chanel, Louis Vuitton, Marks and Spencer and Shanghai No. 1 Department Store
Visitors to Shanghai from Singapore can now save 9% on their purchases as the country has introduced its first Tax Free Shopping scheme for foreign visitors.
From today, Global Blue, the world's leading Tax Free Shopping provider, has partnered with Bank of China to make the service in Shanghai widely available and help retailers to provide the best Tax Free Shopping service to their international customers.
Almost 200 stores in Shanghai have already signed up to the TFS scheme, including major department stores [e.g. Takashimaya, Pacific, Parkson and Bailian (Group) Department Stores], luxury brands (e.g. Chanel, Hermes, Tiffany and Louis Vuitton), high street names (e.g. Zara, Bershka and Marks & Spencer) and local retailers (e.g. Silk King, Lao Feng Xiang Jewellery and Chow Tai Fook Jewellery).
In a few simple steps, Singaporean shoppers from can make savings on both consumable and non-consumable goods that they will export in their personal baggage, including fashion and beauty items, watches and jewellery, and alcohol.
To claim the VAT refund, shoppers simply need to follow these three steps:
- When paying for purchases request a Tax Free Form and VAT invoice from shop staff
- When departing the country, visit the Customs desk at the airport and present the completed Tax Free form and VAT invoice, passport, receipts and unused purchases for verification. Once verified, Customs will provide a stamp for the Tax Free form
- Claim the refund via the refund counter at the airport
As part of the scheme Global Blue will also work with Bank of China to increase the number of retailers signed up to the scheme and will help participating retailers to better advise foreign visitors using the Tax Free Shopping service.
The minimum purchase amount to qualify for a Tax Refund is 500RMB (approximately 103SGD). The scheme is available to all foreign visitors and residents from Hong Kong, Macau and Taiwan.
To locate participating retailers in China visit: globalblue.com/storelocator.
About Global Blue
Global Blue pioneered the concept of Tax Free Shopping 35 years ago and is now the worldwide industry leader, delivering Globe Shoppers the best shopping experience and creating value for retailers and partners through a range of products and services:
- Global Blue's Tax Free Shopping solutions allow thousands of retailers, including most of the world's best luxury, fast fashion and department store brands, to quickly and safely offer Globe Shoppers savings of up to 19% when shopping in 300,000 stores around the world
- Global Blue's Dynamic Currency Conversion solutions allow merchants in 75,000 outlets around the world to offer foreign customers a simple and cost efficient way to pay in their domestic currency
- Global Blue's SHOP is a targeted print and online media platform, enabling merchants to speak directly to Globe Shoppers and attract more international visitors through their doors
Global Blue operates in 51 countries, employing 1,800 people worldwide. From April 2015 to March 2016, Global Blue powered 30 million Tax Free Shopping and 12 million Dynamic Currency Conversion transactions. These totalled €21 billion worth of sales in store.
In addition, through the publication of over 9 million SHOP magazines and maps, and the creation of a wide range of online content, Global Blue helps its retail partners reach and engage with 30 million Globe Shoppers annually.
For more information visit corporate.globalblue.com.
T: Duncan Skehens, AVP Communications (+44)-7909-513-301
SOURCE Global Blue