February 25th, 2010Tax-Free Shopping For Non-EU Residents Is As Simple As Keeping Your Receipts
When traveling abroad there is that small thrill felt when passing by the duty-free store tucked into various international airports selling all manner of goods including perfumes, alcohol, and chocolates for purchase sans sales tax. With the every day reality of paying taxes, the moment a consumer can free themselves from it, the more attractive the shopping item becomes. Beyond the already tax-free shops, when traveling into the European Union (EU) from a non-EU country, tax-free shopping as a non-EU resident is possible by reclaiming taxes on a number of retail goods.
Tax-free shopping allows customer to bypass any retail taxes including sales, consumption, or value added tax (VAT). EU shoppers contend with the latter value added tax that acts as a sales tax on all goods and varies by country in its value.
The value added tax or EU-VAT, encompasses all member countries of the union and so becomes an issue for non-EU dwelling residents traveling abroad within the European Union. Members of the EU are unable to take advantage of a VAT refund unless the items are purchased to be sent outside of the EU.
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.
A number of companies are available for utilization in making the refunded of EU-VAT a simple transaction requiring only that the consumer collect and save all receipts on good purchased in EU countries and visit customs before leaving the EU to collect an export validation stamp.
Goods exempt from VAT, in general, are childrens clothing and books. Full VAT-refunds can be had, but countries vary on the percentages that are able to be claimed, as well as having minimum purchase requirements on goods purchased.
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.
Check out all you want to know about tax free shopping by checking it out now. Take advantage of the chance to save cash by doing some tax free shopping. Jump online and learn all you want to know.