February 26th, 2010Tax Free Shopping For Non-EU Residents
Retail tax or sales tax, added onto the total price of good purchased, is a reality that most people accept. Because of this implicit acceptance it comes as a pleasant perk that with travel from non-European Union (EU) countries into EU countries and purchasing goods within those countries can result in reclaiming any taxes you have paid on good. We all know duty-free shops within international airports; however, this law is in effect for a variety of retailers throughout the EU nations.
Tax-free shopping allows customer to bypass any retail taxes including sales, consumption, or value added tax (VAT). EU shoppers contend with the latter value added tax that acts as a sales tax on all goods and varies by country in its value.
The value added tax or EU-VAT, encompasses all member countries of the union and so becomes an issue for non-EU dwelling residents traveling abroad within the European Union. Members of the EU are unable to take advantage of a VAT refund unless the items are purchased to be sent outside of the EU.
To utilize this refund system, initial payment of the sales tax (EU-VAT) is required and the amount will vary from country. Fortunately, and by law, non-EU resident shoppers can claim refund on all EU-VAT amounts.
Getting a refund on VAT for something as small as a pack of gum isn’t going to happen, there are minimum purchase requirements that must be adhered to, as well as different refund percentages for each EU nation.
Goods exempt from VAT, in general, are childrens clothing and books. Full VAT-refunds can be had, but countries vary on the percentages that are able to be claimed, as well as having minimum purchase requirements on goods purchased.
One company, Premier Tax Free, is partnered with over 75,000 worldwide retailers. With the company’s technical expertise, dealing with international retailers will be free of the red-tape and hassle of tax free shopping for non-EU residents. Receipts, provided by you, are sent back to retailers in the effort of requesting a VAT refund.
Discover all you want to know about tax free shopping by checking it out now. Take advantage of the chance to save cash by doing some tax free shopping. Jump online and find out all you want to know.