CHINA unveiled new measures Sunday to further optimize its departure tax refund policy to improve the shopping experience of overseas travelers. Under the new scheme, overseas travelers can apply for a refund if they spend at least 200 yuan (US$27.75) in the same shop one day, according to a circular jointly issued by the Ministry of Commerce and five other government departments. Refunds will be made available through multiple channels, including mobile payments, bank cards and cash, to better accommodate the diverse payment preferences of overseas travelers. The upper limit for cash refund has been raised to 20,000 yuan. The circular also outlines steps to expand the number of departure tax refund stores, enrich the supply of eligible goods and improve services. More departure tax refund stores will be set up in major shopping areas, pedestrian streets, tourist sites, resorts, cultural venues, airports, passenger ports and hotels, according to the circular. Departure tax refund stores are encouraged to stock up inventories to include time-honored and famous brands, smart devices, intangible cultural heritage items, crafts and specialty products, among others. Speaking at a press conference Sunday, Sheng Qiuping, vice minister of commerce, said that overseas travelers previously often purchased international brands when claiming tax refunds. The lower threshold allows more specialty stores, souvenir shops, and gift shops with lower average transaction amounts to join the tax refund network, helping promote the sales of Chinese brands, Sheng said. The regulations regarding departure tax refund have been revised to optimize services and streamline the refund process, according to the country’s taxation authorities. Earlier this month, China announced a nationwide shift from a refund-upon-departure model to a refund-upon-purchase model for departure tax refund, enabling foreign visitors to instantly claim value-added tax rebates at tax-free stores across the country. ”Providing overseas travelers with a greater variety of shopping options and more convenient tax refund services will help stimulate inbound consumption and support opening up and economic growth,” said Chen Binkai, vice president of the Central University of Finance and Economics. China started to implement the departure tax refund policy for overseas travelers in 2015. Since its implementation, the scale of departure tax refunds has grown significantly. Official data revealed that last year, the sales revenue of goods eligible for departure tax refunds and the amount of tax refunded rose by 120% and 130% year on year respectively. (Xinhua) | 