[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Sign-in]  [Mail]  [Setup]  [Help] 

Status: Not Logged In; Sign In

Earth Changes Summary - June 2025: Extreme Weather, Planetary Upheaval, China’s Tofu-Dreg High-Speed Rail Station Ceiling Suddenly Floods, Steel Bars Snap Russia Moves to Nationalize Country's Third Largest Gold Mining Firm Britain must prepare for civil war | David Betz The New MAGA Turf War Over National Intelligence Happy fourth of july The Empire Has Accidentally Caused The Rebirth Of Real Counterculture In The West Workers install 'Alligator Alcatraz' sign for Florida immigration detention center The Biggest Financial Collapse in China’s History Is Here, More Terrifying Than Evergrande! Lightning Cash Jordan NYC Courthouse EMPTIED... ICE Deports 'Entire Building Trump Sparks Domestic Labor Renaissance: Native-Born Workers Surge To Record High As Foreign-Born Plunge Mister Roberts (1965) WE BROKE HIM!! [Early weekend BS/nonsense thread] I'm going to send DOGE after Elon." -Trump This is the America I grew up in. We need to bring it back MD State Employee may get Arrested by Sheriff for reporting an Illegal Alien to ICE RFK Jr: DTaP vaccine was found to have link to Autism FBI Agents found that the Chinese manufactured fake driver’s licenses and shipped them to the U.S. to help Biden... Love & Real Estate: China’s new romance scam Huge Democrat shift against Israel stuns CNN McCarthy Was Right. They Lied About Everything. How Romans Built Domes My 7 day suspension on X was lifted today. They Just Revealed EVERYTHING... [Project 2029] Trump ACCUSED Of MASS EXECUTING Illegals By DUMPING Them In The Ocean The Siege (1998) Trump Admin To BAN Pride Rainbow Crosswalks, DoT Orders ALL Distractions REMOVED Elon Musk Backing Thomas Massie Against Trump-AIPAC Challenger Skateboarding Dog

Business/Finance
See other Business/Finance Articles

Title: China launches tourist tax refund scheme
Source: [None]
URL Source: [None]
Published: Jan 17, 2015
Author: staff
Post Date: 2015-01-17 05:04:19 by Tatarewicz
Keywords: None
Views: 9

BEIJING, Jan. 16 (Xinhua) -- Overseas visitors can now claim tax refunds on purchases across China, the Ministry of Finance (MOF) announced on Friday, to boost inbound trips and domestic consumption.

According to the plan, foreign tourist and those from China's Hong Kong, Macao and Taiwan who have lived in the Chinese mainland for no more than 183 days -- can receive a rebate of 11 percent on consumer goods purchased at designated department stores.

The minimum purchase for a tax refund is 500 yuan (about 82 U.S. dollars) at any one store in one day.

The rebate covers everything apart from items prohibited from taking overseas in accordance with law.

The refund will be paid in renminbi in cash or transferred to the buyer's bank account.

The State Administration of Taxation and the General Administration of Customs will release detailed measures to regulate the scheme.

China started a pilot tax refund program in south island province of Hainan on Jan.1, 2011. The minimum purchase was 800 yuan and the program covered only 324 items.

"The expansion of the program will spur inbound trips and boost the export of China-made commodities," said Liu Shangxi, a senior researcher with the MOF.

The increasingly well-off Chinese like to spend big on shopping when traveling overseas. But foreign visitors appear to have less appetite for Chinese products.

The National Tourism Administration predicted that some 128 million trips will be made to China in 2015.

"The rebate scheme will encourage shopping, especially for expensive items," said Yang Zhiyong, a finance researcher with the Chinese Academy of Social Sciences.

Poster Comment:

Makes sense since visitors won't require pensions and most other government services.

Post Comment   Private Reply   Ignore Thread  

[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Sign-in]  [Mail]  [Setup]  [Help]