Foreign Shoppers in Taiwan to be Refunded US$25 in Tax On-site

Taipei, June 27, 2011 (CENS)--Taiwan's Ministry of Finance (MOF) recently announced to allow foreign traveler in Taiwan to receive tax refunds in cash from 153 authorized stores of up to NT$1,000 on-the-spot in business tax on about NT$21,000 (US$700) in purchases during their stays, starting on July 1.

The MOF indicated that foreign travelers in Taiwan typically buy products totaling NT$9.4 billion (US$313.33 million) on average a year with tax refunds of about NT$450 million (US$15 million), while the tax refunds this year reached NT$150 million (US$5 million) in the first four months.

Usually foreign travelers apply for tax refunds with customs officials at the exit ports within 30 days after purchase, but starting July 1 foreign shoppers can be refunded up to NT$1,000 (US$34) in tax at authorized stores on-the-spot.