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(Yicai Global) May 2 -- Shanghai launched its first centralized tax refund point in a central commercial district yesterday, offering better tax refund service for overseas travelers.
This centralized refund point for departure tax rebates is located in Plaza 66, one of the busiest shopping malls in Shanghai.
After shopping at stores that provide instant departure tax refund service, eligible overseas travelers will be rebated with the value-added tax at the centralized tax refund point in the mall.
In early 2019, Shanghai became China's first pilot city for instant departure tax refund service, which allows overseas travelers to get an instant tax refund in cash from merchants after shopping. However, some shops eager to participate in the program are restrained by cash management issues.
After the launch of the tax refund point, the tax will be rebated by tax refund agencies, which allows more merchants to easily participate in the pilot policy.
On April 23, Shanghai rolled out a series of policies to promote consumption, including tax-free consumption.
Editor: Xia Ruirui