China Enhances VAT Refund Scheme for Tourists to Boost Domestic Consumption Amid Trade War

• China plans to improve the VAT refund scheme for tourists.
• The aim is to boost domestic consumption during the trade war with the US.
• More shops will offer tax refunds, with requests processed within five days.
• Refunds will be available for purchases of at least CNY200 from the same store on the same day.
• The cash refund limit will be increased to CNY20,000.

Source: answerconnect.cch.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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