Tax Refunds On Foreign Shopping Not Claimed By Americans Reaches 60M Euros

By on Apr 17, 2011 in Economy, Shopping, Travel, United States Comments
Tax Refunds
Image Credit: taxrefunds.co.za

Most American travelers and shoppers do not apply for the value-added tax (VAT) refund, according to a report by The Detroit News.

Because most travelers are not aware that they can recover the tax, there is an estimated  60 million euros worth of unclaimed value-added tax refunds.

Reports say that tax refunds can go as high as 20 percent of the goods bought that includes clothing, jewelry, and electronics.

Majority of American shoppers do not apply for the tax refund because they feel the inconvenience of keeping receipts and having them stamped by Customs authorities and mail it back to Premier Tax Free.

For those who availed, the tax refund can be received through credit card, check or by getting it personally from a Premier Tax Free refund desk at the airport upon arrival.

Tax refund can be availed by a tourist upon spending a minimum amount, that varies for every country, in one store on the same day. The amount of refund is different from the $800 duty-free exemption, or the total value of items bought from Europe and will be taken to the US. Beyond that amount, it will be subjected to tax upon arrival.



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