Home » News » Shenzhen Vientiane City Launches “Buy Now, Refund Now” Tax Refund for Hong Kong Residents – What You Need to Know!

Shenzhen Vientiane City Launches “Buy Now, Refund Now” Tax Refund for Hong Kong Residents – What You Need to Know!

Shenzhen Shopping|23 famous stores in Shenzhen Vientiane City are trialling the “Buy Now, Refund Now” departure tax refund, which is applicable to Hong Kong residents!Netizens turn over old accounts: Counterfeit goods may be bought in mainland specialty stores

When Hong Kong people go north to Shenzhen, they mainly focus on eating, drinking and having fun, and rarely do shopping. Recently, Shenzhen announced the launch of a “buy now, refund now” tax refund measure for tourists from Hong Kong, Macao and Taiwan. After shopping, about 9% of the tax can be refunded instantly. The first pilot is in Shenzhen Vientiane City Mall has 23 famous brand stores including LV, Hermès and PRADA. After tax rebates, the actual prices of most brand-name products will be lower than the public prices in Hong Kong. This tax rebate measure may threaten Hong Kong’s reputation as a “shopping paradise”!

The first pilot is 23 famous brand stores in Shenzhen Mixc Mall, including LV, Hermès and PRADA. (Photo source: 小红书@qiuwda)

23 pilot stores in Shenzhen Vientiane City

Shenzhen is the sixth pilot city in the country to implement the “buy now and get refund” policy for departure tax refund after Shanghai, Beijing, Guangzhou and other places. There are 23 pilot stores in the first batch of Shenzhen, all located in Shenzhen Vientiane City, including Louis Vuitton, Hermès, Ferragamo, DIOR, PRADA, Cartier, Valentino, Piaget, etc. Tourists including Hong Kong, Macao and Taiwan, as long as they spend RMB 500 or more in the pilot stores If you spend RMB 10,000 or more, you can apply for a tax refund in the store or go to the service center in the mall for a one-time tax refund. The tax refund rate is about 9%. That is, you can get a tax refund of about RMB 900 when you buy over RMB 10,000, which is equivalent to a 9.1% discount. “Buy Now, Refund Now” also has a tax refund limit. The daily limit for each passenger shopping in the same pilot store is RMB 110,000. Before the implementation of this new measure, there was actually a tax refund measure for passengers leaving the country, but it needed to be applied for at the airport when leaving the country. It is suspected that due to the complicated procedures and other reasons, not many tourists used it, and the response was not enthusiastic.

The tax rebate rate is about 9%, that is, you can get a tax rebate of about 900 yuan for a purchase of 10,000 yuan, which is equivalent to a 91% discount. (online picture)

There are centralized tax refund points in the shopping mall. (online picture)

Products for tax refund must be for personal use

However, it should be noted that tax refund products must be for personal use. When handling tax refund procedures, in addition to presenting identity documents, invoices and the “Overseas Tourist Shopping Departure Tax Refund Application Form”, you must also provide a credit card for “pre-authorization guarantee”. Get a cash tax refund. If it is discovered during customs clearance that the tax-refunded goods have been secretly resold to a third party, you may be subject to deductions as compensation or suffer more severe penalties!

“Buy Now, Refund Now” tax refund process.

Netizens: You can buy fakes in specialty stores

Although after the tax rebate, the actual price of each brand boutique is cheaper than the public price, some netizens admitted that they are worried that “even in specialized stores, you may buy fakes!” There were also many reports about employees of famous mainland stores buying fakes online and exchanging them for real ones. , there are reports about reselling for profit, claiming that even if there is a 91% discount, you may not dare to buy it. What do you think?

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2023-12-14 02:09:15
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