Taipei, Dec. 12 (CNA) Taiwan will relax value-added tax (VAT) refund rules for foreign visitors beginning next year, in an effort to spur spending by such visitors, the Ministry of Finance's National Taxation Bureau of Taipei announced Wednesday.
From Jan. 1, 2019, travelers who enter Taiwan on foreign passports and stay for no more than 183 days can apply for on-site small-amount VAT refunds if they spend between NT$2,000 (US$64) and NT$48,000 in a single day from the same store, according to the bureau.
The store will need to be a designated store bearing the label "We offer small-amount tax refund services."
The revised rule raises the maximum value of purchases eligible for on-site small-amount VAT refunds from NT$24,000 to NT$48,000.
The bureau said the revision could increase spending by foreign travelers and save them the inconvenience of having to queue at tax refund counters at airports and seaports.
