China is taking new steps to enhance its departure tax refund system in a bid to stimulate inbound consumption, according to information released by the Ministry of Commerce on April 27.
The Ministry of Commerce, together with five other government departments, has issued a notice detailing new measures to further optimize the departure tax refund policy. Among the key changes, the minimum purchase amount eligible for tax refunds has been lowered. Overseas travelers who purchase eligible goods worth at least 200 yuan (approximately USD 28) from the same store on the same day, and meet other relevant requirements, can now apply for tax refunds upon departure.
The notice outlines eight specific initiatives across three main areas: expanding the number of tax refund stores, diversifying the range of refundable goods, and improving tax refund services.
Efforts will be made to optimize the distribution of tax refund stores. Local authorities are encouraged to establish more tax refund stores in major shopping districts, pedestrian streets, tourist attractions, resorts, cultural and museum venues, airports, passenger ports, and hotels, thereby widening their coverage. The registration criteria for tax refund stores have also been relaxed. In addition to stores with A and B tax credit ratings, those with an M rating are now eligible to apply, provided they meet other relevant conditions.
To enhance the supply of refundable goods, tax refund stores are encouraged to expand and tailor their offerings to better meet the demands of international visitors. This includes promoting traditional Chinese brands, renowned domestic products, smart devices, intangible cultural heritage items, arts and crafts, geographical indication products, cultural and creative goods, specialty products, and sports equipment. The notice also calls for the launch of "Shopping in China" campaigns to promote high-quality signature products, such as "City Souvenirs" and "Must-Buy Must-Bring" items, in tax refund stores.
Additionally, payment services for tax refunds will be upgraded. The cash refund limit will be raised to 20,000 yuan (approximately USD 2,760). Refund agencies are encouraged to strengthen cooperation with payment service providers and clearing institutions to offer tax refunds through a variety of methods, including mobile payments, bank cards, and cash, while ensuring risk is effectively managed. These improvements aim to better meet the diverse payment needs of overseas travelers.
No comments:
Post a Comment