Overseas travellers can enjoy 11% tax refund when shopping in China

International Online News (Reporter Lin Wei): Many Chinese tourists who travel abroad have enjoyed the tax refund benefits for shopping. In the future, foreign tourists will also enjoy tax refund policies when shopping in China. The Ministry of Finance recently announced that foreign tourists who purchase personal items in China s eligible regions can apply for VAT refund in accordance with regulations, with a tax refund rate of 11%. Some experts said that this policy is good news for domestic tourism and consumption; some experts pointed out that the core of stimulating domestic tourism still lies in strengthening its own environmental construction.

The Ministry of Finance has recently issued the Announcement on the Implementation of Overseas Passengers Tax Rebate Policy for Shopping Departures , deciding that foreign tourists may apply for VAT refund in accordance with regulations when they leave the country to purchase goods in eligible regions in China. Zhao Ping, deputy director of the Consumer Economics Research Department of the Research Institute of the Ministry of Commerce, pointed out that the introduction of this policy not only stimulates domestic consumption, but also is in line with international practices.

In terms of expanding consumption, we must not only rely on Chinese people. This time, the tax refund policy for foreign tourists when they leave China is actually to attract more foreign tourists to China, and to spend more in China during the tourism process . One, the implementation of the tax refund policy for foreign tourists when they leave China is a very international and standardized policy. I think that China, as a large economic country, has implemented a tax refund policy for its departure, which is also the policy level of our economic development and internationalization after reaching a certain level. Inevitable choice.

The announcement on tax refunds for departures of foreign tourists stipulates that foreign tourists who can enjoy the tax refund benefits refer to foreigners and compatriots from Hong Kong, Macao and Taiwan who have lived in China for less than 183 consecutive days. The tax refund items include all items except prohibited, restricted exit and VAT exempt items. It is understood that if the amount of tax refund items purchased by the same overseas traveler at the same tax refund store reaches 500 yuan on the same day, they can apply for a tax refund , the tax refund rate is 11%, and the tax refund currency is RMB.

How How do foreign tourists evaluate this policy? Mr Salim from Pakistan said that the departure tax refund policy is attractive to foreign tourists and can stimulate shopping.

I heard that the Chinese government is planning to launch a tax rebate policy. I believe this will be very attractive to Pakistani people. I think Pakistani tourists who come to China will be very interested in fast-moving consumer products such as Chinese electronics and clothing. Especially children s clothing will be very interested, and I believe that if this policy is introduced, more Pakistanis will come to China to travel and consume in China.

After this announcement was issued on the 16th, the Ministry of Finance, the General Administration of Customs and the State Administration of Taxation began to accept filings in areas that meet the tax refund conditions. It is understood that Guangdong Hengqin has taken the lead. In fact, as early as a few years ago, Hainan Province has piloted the tax refund policy for outlying islands and conducted a pilot test for the launch of the tax refund policy across the country. Zhao Ping, deputy director of the Consumer Economy Research Department of the Research Institute of the Ministry of Commerce, pointed out that this policy is expected to be popularized nationwide within the next six months to one year, but support for related supporting environments needs to be followed up.

The departure tax refund itself seems to be a policy implemented in the customs sector. In fact, there are still more supporting policies in the country. First of all, the domestic sales policy must be changed. There should be an explicit statement of the system so that when consumers enter this area, they can see what the corresponding policy norms are, such as the threshold for tax deduction and the proportion of tax refunds, and which products can be included in the exit tax refund policy. At the same time these commercial organizations Consumers should have corresponding standardized forms for consumers to fill in. In addition to domestic commercial institutions may need to make some reforms in the text and management processes, at the same time, customs and the relevant foreign exchange management departments of banks must have corresponding regulations. Supporting measures are in place.

According to public opinion, the current implementation of the tax refund policy for foreign tourists shopping in China will be of great benefit to the domestic economy, especially the development of the domestic tourism industry. However, Chen Fengying, director of the Institute of World Economics of China Institute of Modern International Relations, pointed out that the incentives for tax refund policies are limited, and the most important thing to develop the tourism industry is to do basic work.

First of all, the products that foreigners come to China to buy are still limited. Most of all, we must first take good care of our environment. Now China s environment is relatively polluted. You can see that the number of people who come to China for tourism has decreased in the past year. The number of outbound tourists is increasing. It can only be said that the convenience of export tax rebates can stimulate certain consumption, especially in emerging markets, such as Russia, the desire of tourists from China to spend will be greater, because they can buy with lower money To something better.

After this announcement was issued on the 16th, the Ministry of Finance, the General Administration of Customs and the State Administration of Taxation began to accept filings in areas that meet the tax refund conditions. It is understood that Guangdong Hengqin has taken the lead. In fact, as early as a few years ago, Hainan Province has piloted the tax refund policy for outlying islands and conducted a pilot test for the launch of the tax refund policy across the country. Zhao Ping, deputy director of the Consumer Economy Research Department of the Research Institute of the Ministry of Commerce, pointed out that this policy is expected to be popularized nationwide within the next six months to one year, but support for related supporting environments needs to be followed up.

The departure tax refund itself seems to be a policy implemented in the customs sector. In fact, there are still more supporting policies in the country. First of all, the domestic sales policy must be changed. There should be an explicit statement of the system so that when consumers enter this area, they can see what the corresponding policy norms are, such as the threshold for tax deduction and the proportion of tax refunds, and which products can be included in the exit tax refund policy. At the same time , these commercial organizations are in Consumers should have corresponding standardized forms for consumers to fill in. In addition to domestic commercial institutions may need to make some reforms in the text and management processes, at the same time, customs and the relevant foreign exchange management departments of banks must have corresponding regulations. Supporting measures are in place.

According to public opinion, the current implementation of the tax refund policy for foreign tourists shopping in China will be of great benefit to the domestic economy, especially the development of the domestic tourism industry. However, Chen Fengying, director of the Institute of World Economics of China Institute of Modern International Relations, pointed out that the incentives for tax refund policies are limited, and the most important thing to develop the tourism industry is to do basic work.

First of all, the products that foreigners come to China to buy are still limited. Most of all, we must first take good care of our environment. Now China s environment is relatively polluted. You can see that the number of people who come to China for tourism has decreased in the past year, but China The number of outbound tourists is increasing. It can only be said that the convenience of export tax rebates can stimulate certain consumption, especially in emerging markets, such as Russia, the desire of tourists from China to spend will be greater, because they can buy with lower money To something better.

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