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.
Taxes can be added onto a good through a number of ways and names including consumption, sales, or the standard EU value added tax (VAT). Traveling abroad in the EU, customers will find the VAT a standard addition to any purchased goods. The ability to refund VAT, however, is a perk not held by member countries of the EU, unless the items are meant to be shipped to non – EU countries.
Paying tax (EU-VAT) on all goods purchased when abroad in the EU is mandatory, but non-EU residents by law are allowed to instigate the refund process on return to their native countries. The amount of EU-VAT will vary from country to country much like the variety found state-by-state in America.
Saving all receipts and stopping at customs before leaving an EU country to obtain an export validation stamp is the bulk of work that needs to be completed by the consumer. Once all receipts and stamps are collecting, working with an established company to refund EU-VAT is a simple process.
The job a consumer must fulfill is saving all receipts and before leaving an EU country, visiting customs officials and acquiring an export validation stamp.
Minus the purchase of books and clothes for children, which are exempt for VAT, any minute item cannot be claimed in search of a VAT-refund. Minimum purchase requirements must be met to obtain a proper refund and each EU country has its own VAT-refund percentage.
For example, Premier Tax Free has relationships with over 70,000 worldwide retailers. Choose which company you want to handle your refund wisely and you can make tax free shopping for non-EU residents an easy transaction.
Find out all you want to know about tax free shopping by checking it out today. Take advantage of the chance to save money by doing some tax free shopping. Jump online and find out all you want to know.