Beijing Launches Two New 'Instant Tax Refund' Service Centers

On August 21, two new "Instant Tax Refund" service centers for overseas visitors officially opened at two Beijing-based branches of the Bank of China, namely the Changhongqiao Branch in the Sanlitun business district and the China (Beijing) Pilot Free Trade Zone Houshayu Branch in the Shine Hills business district.

The new service model, the first of its kind in China, transformed these bank branches into "Instant Tax Refund" service centers where overseas visitors can now quickly receive tax refunds for eligible purchases, choosing either cash or immediate electronic payment options.
Currently, Beijing has five "Instant Tax Refund" service centers located in major commercial hubs: WF Central, Seasons Place, China World Mall, Sanlitun, and Shine Hills. Overseas visitors shopping at any of the city's over 1,500 tax refund stores can now apply for refunds seamlessly at any of these five locations.
Data indicates substantial growth in Beijing's tax refund services for departing overseas visitors since the beginning of this year. The number of tax refund transactions has surged by 246 percent year-on-year, while the sales of tax-refundable goods have doubled, and the total refund amount has increased by 97 percent. The city has processed tax refund applications for over 20,000 overseas visitors from 168 countries and regions this year.

(Source: Beijing Daily App)
Source: BeijingService