China expands instant tax refund nationwide for overseas tourists

China will expand its instant tax refund for purchases by overseas tourists nationwide in a move to boost inbound travel and consumption, the State Taxation Administration said on Tuesday.

The service, which allows foreign visitors to receive tax rebates immediately after buying, rather than upon departure, was previously piloted in cities including Beijing, Shanghai, Guangzhou, Chengdu, Hangzhou and Shenzhen.
Under the new rules, tourists making purchases at designated stores can receive their refunds on-site after completing a credit card pre-authorization. Upon departure, customs will verify the traveler's identity and the goods, and the refund agency will lift the pre-authorization once all information is confirmed.
Li Xuhong, deputy dean of the Beijing National Accounting Institute, said, "By tapping into inbound consumption potential, the move would improve China's tourism climate and help promote high-quality economic growth."
Source:CHINADAILY