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The sales tax may be variously described as a sales tax, goods and services tax (GST), value added tax (VAT), or consumption tax. Promoting tax-free shopping and making it easier for tourists to claim the refund back has helped to attract travellers to many countries.
For certain other purchases, a VAT refund may be claimed at the airport upon departure. [18] In the Philippines, there is one shopping mall called the Duty Free Philippines Fiestamall, which is located a few miles away from Ninoy Aquino International Airport as opposed to being at the airport itself. It is the only shopping mall of its kind in ...
Global Blue is a tourism shopping tax refund company headquartered in Nyon, Switzerland. The company is best known for tax-free shopping, [1] a VAT/GST refund product and also operates in dynamic currency conversion, marketing services, point-of-sale technology, retail staff education, and customer intelligence. It is the industry leader for ...
Typically, taxpayers have three years to file their returns and claim tax refunds, but due to the COVID-19 pandemic, the window was extended for 2020 returns to May 17, 2024. If tax returns aren't ...
Most VAT systems allow the amount of such VAT paid or considered paid to be used to offset VAT payments due, generally referred to as an input credit. Some systems allow the excess of input credits over VAT obligations to be refunded after a period of time.
So if a taxpayer filed taxes on the new filing deadline — July 15, 2020 — and later wanted to claim a refund or credit on July 14, 2023, which is within the three-year timeframe to claim a ...
Planet (formerly known as Fintrax and Premier Tax Free), [1] is a financial services company, specialised in multicurrency payments, credit card processing, Hospitality and Retail Software and the management of VAT refunds (Tax-Free) for tourists. Planet provide their services to overseas visitors, international retail groups, hotels and banks ...
In India, there is a provision of refund of excess tax along with interest. For claiming a refund one has to file the income tax return within a specified period. However, under Sections 237 and 119(2)(b) of the Income Tax Act, the Chief Commissioner or Commissioner of Income Tax are empowered to condone a delay in the claim of a refund. [15]