World Economy

Tourist Tax Refund Scheme

Tourist Tax Refund SchemeTourist Tax Refund Scheme

Overseas visitors can now claim tax refunds on purchases across China, the Ministry of Finance announced on Friday, to boost inbound trips and domestic consumption, Xinhua reported.  According to the plan, foreign tourists and those from China’s Hong Kong, Macao and Taiwan who have lived in the Chinese mainland for no more than 183 days – can receive a rebate of 11% on consumer goods purchased at designated department stores. The minimum purchase for a tax refund is 500 yuan (about $82) at any one store in one day. China started a pilot tax refund program in south island province of Hainan on Jan 1, 2011.