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  • The First Batch of Tax Refund Stores in Yiwu Was Opened Today

  • Source:Yiwu · China Commodity Index Author:Yiwu · China Commodity Index 2021-01-07
  • The first batch of tax refund stores in Yiwu were opened on December 1. At this time, three outlets have been included in the list of the first batch of tax refund stores (outlets) in Zhejiang Province, including ICMall Binwang Flagship Store, ICMall Airport Store and store in Intime Department Store.
    The tax refund policy refers to the policy of returning VAT of tax refund items, as purchased at the tax refund shop, to the overseas passengers when they leave the country. The policy is applicable to tax refund items with tax rates of 13% and 9%, and the tax refund rate is 11% and 8% respectively. In addition, the following four conditions shall be met at the same time of application: the amount of tax refund commodities purchased by the same foreign passenger in the same tax refund shop reaches RMB 500 on the same day; the tax refund commodities have not been put into use or consumed; the departure date shall not be more than 90 days from the purchase date of the tax refund commodities; the tax refund commodities purchased shall be carried by the overseas passengers themselves or checked out with them.
    It is worth noting that, when purchasing tax refund commodities, consumers need to ask for the tax refund application form for foreign passenger and sales invoice. After confirmed, signed and stamped by customs, foreign passenger can apply for VAT refund with the passport or other valid identity documents, the tax refund application form for foreign passenger signed and stamped by customs, as well as the sales invoice of tax refund commodities. 
    As the "Commodity capital" of the world, Yiwu is now attracting more and more foreigners to live and do business here. Through this measure, foreign tourists will be given more convenience and preferential treatment, thus attract them to travel and shopping in Yiwu, stimulate consumption, and further improve the internationalization level of commerce in the city.
    The relevant person in charge of Yiwu Tax Bureau said that, at present, the municipal tax bureau has established a normalized mechanism, focusing on promoting relevant enterprises in Yiwu to apply for relevant qualifications, achieving further development by our own advantages, supporting the sound development of offline physical stores, and hoping that more high-quality stores can be included as tax refund stores.