Comments on: Value Added Tax Refund (VAT) for Vacation Shopping http://moneyning.com/tax/value-added-tax-refund-vat-for-vacation-shopping/ A personal finance blog where we share insights on carefully saving money, investing, early retirement, mortgages, stocks because the little things matter in achieving financial freedom! Sat, 21 Nov 2009 08:01:45 -0800 http://wordpress.org/?v=2.8.6 hourly 1 By: CarInsuranceQuote.net http://moneyning.com/tax/value-added-tax-refund-vat-for-vacation-shopping/comment-page-1/#comment-15944 CarInsuranceQuote.net Wed, 13 May 2009 21:13:33 +0000 http://moneyning.com/?p=1927#comment-15944 I came back from Canada and just a few months before they had gotten rid of the VAT tax rebate. To make matters worse, we went when the dollar was equal to the Canadian dollar. They didn't even want our money because they thought our economy was going in the dumps. Now it's their dollar that is slipping. Writing about it makes me want to drive up there again. I came back from Canada and just a few months before they had gotten rid of the VAT tax rebate. To make matters worse, we went when the dollar was equal to the Canadian dollar. They didn’t even want our money because they thought our economy was going in the dumps. Now it’s their dollar that is slipping. Writing about it makes me want to drive up there again.

]]> By: Associate Money http://moneyning.com/tax/value-added-tax-refund-vat-for-vacation-shopping/comment-page-1/#comment-12656 Associate Money Sat, 27 Dec 2008 13:36:21 +0000 http://moneyning.com/?p=1927#comment-12656 Shucks, this post has come a bit late for me. I recently came back from a business trip in Canada bearing lots of gifts for friends. Should have asked the sales staff to take out the sales tax then. Shucks, this post has come a bit late for me. I recently came back from a business trip in Canada bearing lots of gifts for friends. Should have asked the sales staff to take out the sales tax then.

]]> By: carnation http://moneyning.com/tax/value-added-tax-refund-vat-for-vacation-shopping/comment-page-1/#comment-12654 carnation Sat, 27 Dec 2008 11:35:37 +0000 http://moneyning.com/?p=1927#comment-12654 i was told that when i went to visit canada but i never did process it. anyway i did not make any large purchases but they were sure more than CAD50. i did not know you can do this in the UK. i could have gotten a refund there. Thailand also has VAT refunds for purchases of 2,000 baht up. i haven't done this as well but there are details when you google about it. some malls will give you the forms but most you can claim at the airport but you have to show the item you bought as well. it's true too much hassle. i was told that when i went to visit canada but i never did process it. anyway i did not make any large purchases but they were sure more than CAD50. i did not know you can do this in the UK. i could have gotten a refund there. Thailand also has VAT refunds for purchases of 2,000 baht up. i haven’t done this as well but there are details when you google about it. some malls will give you the forms but most you can claim at the airport but you have to show the item you bought as well. it’s true too much hassle.

]]> By: MoneyNing http://moneyning.com/tax/value-added-tax-refund-vat-for-vacation-shopping/comment-page-1/#comment-12637 MoneyNing Thu, 25 Dec 2008 22:27:28 +0000 http://moneyning.com/?p=1927#comment-12637 Robert: Thanks for the explanation and correction. My quick math is not as accurate as when I was younger anymore :) It seems like every country has their own rules of how tax refunds are done but if you can take advantage of it, you definitely should! PennySeeds: As I understand it, tourist are not able to deduct services such as hotel stays but if you are there on business, all the taxes from business expenses are deductible! Robert: Thanks for the explanation and correction. My quick math is not as accurate as when I was younger anymore :) It seems like every country has their own rules of how tax refunds are done but if you can take advantage of it, you definitely should!

PennySeeds: As I understand it, tourist are not able to deduct services such as hotel stays but if you are there on business, all the taxes from business expenses are deductible!

]]> By: Jerry http://moneyning.com/tax/value-added-tax-refund-vat-for-vacation-shopping/comment-page-1/#comment-12634 Jerry Thu, 25 Dec 2008 17:23:03 +0000 http://moneyning.com/?p=1927#comment-12634 Don't forget that you can save on sales tax within the US, as well. If you happen to visit Oregon on New Hampshire, neither of those states charge a sales tax. (In fact, New Hampshire doesn't even have a state income tax!) This leads to some nice insurance that they will save money for people who live (or just shop) there. Aside from that, they are both lovely places to visit! Jerry Don’t forget that you can save on sales tax within the US, as well. If you happen to visit Oregon on New Hampshire, neither of those states charge a sales tax. (In fact, New Hampshire doesn’t even have a state income tax!) This leads to some nice insurance that they will save money for people who live (or just shop) there. Aside from that, they are both lovely places to visit!
Jerry

]]> By: PennySeeds.com http://moneyning.com/tax/value-added-tax-refund-vat-for-vacation-shopping/comment-page-1/#comment-12632 PennySeeds.com Thu, 25 Dec 2008 14:57:43 +0000 http://moneyning.com/?p=1927#comment-12632 This is a pretty interesting post. Any idea if this works on all purchases made in other countries or just goods? For example; If you could apply this method to things like hotel stays, cab fees, resturants, ect. you could save a lot of cash pretty fast! This is a pretty interesting post. Any idea if this works on all purchases made in other countries or just goods?

For example; If you could apply this method to things like hotel stays, cab fees, resturants, ect. you could save a lot of cash pretty fast!

]]> By: Robert http://moneyning.com/tax/value-added-tax-refund-vat-for-vacation-shopping/comment-page-1/#comment-12630 Robert Thu, 25 Dec 2008 13:00:41 +0000 http://moneyning.com/?p=1927#comment-12630 @moneyning The VAT rate in the UK is currently 15%, due to return to 17.5% on 1 January 2010. This is not the highest rate of VAT in Europe. Denmark has a 25% rate. Also, the price you pay includes the VAT, so in your example of paying 1000 you'd only get about 150 back - currently less, about 130, because of the lower rate of VAT in the UK. The same thing in Denmark would get you a refund of about 200. In Europe it is necessary to get the forms stamped by Customs as you leave to return to your home country, and send them back to the retailer who needs them to support not charging/refunding the VAT. @moneyning The VAT rate in the UK is currently 15%, due to return to 17.5% on 1 January 2010. This is not the highest rate of VAT in Europe. Denmark has a 25% rate.

Also, the price you pay includes the VAT, so in your example of paying 1000 you’d only get about 150 back – currently less, about 130, because of the lower rate of VAT in the UK. The same thing in Denmark would get you a refund of about 200.

In Europe it is necessary to get the forms stamped by Customs as you leave to return to your home country, and send them back to the retailer who needs them to support not charging/refunding the VAT.

]]> By: Craig http://moneyning.com/tax/value-added-tax-refund-vat-for-vacation-shopping/comment-page-1/#comment-12624 Craig Wed, 24 Dec 2008 20:21:37 +0000 http://moneyning.com/?p=1927#comment-12624 I meant @MoneyNing: Sorry about that. I meant @MoneyNing: Sorry about that.

]]> By: Craig http://moneyning.com/tax/value-added-tax-refund-vat-for-vacation-shopping/comment-page-1/#comment-12623 Craig Wed, 24 Dec 2008 20:20:38 +0000 http://moneyning.com/?p=1927#comment-12623 @Pinyo thanks, if someone is going to spend that type of money, you are right, then it is worth it. My travel experience is mainly through backpacking so my purchases and presents to others were very small. Good thing to look into though the next time I travel. @Pinyo thanks, if someone is going to spend that type of money, you are right, then it is worth it. My travel experience is mainly through backpacking so my purchases and presents to others were very small. Good thing to look into though the next time I travel.

]]> By: MoneyNing http://moneyning.com/tax/value-added-tax-refund-vat-for-vacation-shopping/comment-page-1/#comment-12622 MoneyNing Wed, 24 Dec 2008 20:18:16 +0000 http://moneyning.com/?p=1927#comment-12622 Craig: I haven't tried this in Europe but I've heard that countries like the UK has as much as 17.5% as tax. When you are at the border, you can get it stamped and refunded provided that you have the product and receipt with you. It may be a hassle but if you buy something for like $1000 for example, getting $175 back is definitely worth the time. Before you go to an European country, you can probably search the web and find out what the percentage of VAT is there. Doing a little planning and homework will probably save you time and hassle too. Craig: I haven’t tried this in Europe but I’ve heard that countries like the UK has as much as 17.5% as tax. When you are at the border, you can get it stamped and refunded provided that you have the product and receipt with you.

It may be a hassle but if you buy something for like $1000 for example, getting $175 back is definitely worth the time. Before you go to an European country, you can probably search the web and find out what the percentage of VAT is there. Doing a little planning and homework will probably save you time and hassle too.

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