Visitors to Shanghai from Malaysia can now save 9 per cent on their purchases as the country has introduced its first Tax-Free Shopping scheme for foreign visitors.
From today, Global Blue, the world’s leading Tax-Free Shopping provider, has partnered with the Bank of China to make the service in Shanghai widely available and help retailers to provide the best Tax-Free Shopping service to their international customers.
Almost 200 stores in Shanghai have already signed up to the TFS scheme, including major department stores [e.g. Takashimaya, Pacific, Parkson and Bailian (Group) Department Stores], luxury brands (e.g. Chanel, Hermes, Tiffany and Louis Vuitton), high street names (e.g. Zara, Bershka and Marks & Spencer) and local retailers (e.g. Silk King, Lao Feng Xiang Jewellery and Chow Tai Fook Jewellery).
In a few simple steps, Malaysian shoppers can make savings on both consumable and non-consumable goods that they will export in their personal baggage, including fashion and beauty items, watches and jewellery, and alcohol.
To claim the VAT refund, shoppers simply need to follow these three steps:
- When paying for purchases request a Tax-Free Form and VAT invoice from shop staff
- When departing the country, visit the Customs desk at the airport and present the completed Tax-Free form and VAT invoice, passport, receipts and unused purchases for verification. Once verified, Customs will provide a stamp for the Tax-Free form
- Claim the refund via the refund counter at the airport
As part of the scheme, Global Blue will also work with the Bank of China to increase the number of retailers signed up to the scheme and will help participating retailers to better advise foreign visitors using the Tax-Free Shopping service.
The minimum purchase amount to qualify for a Tax Refund is 500RMB (approximately 318MYR). The scheme is available to all foreign visitors and residents from Hong Kong, Macau and Taiwan.
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