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7-10-2014 7-04-56 PM

How to Get Your VAT Reimbursed After Shopping


Many tourists often wonder how to get their VAT back after shopping. Here’s how.

Q. Is it possible to get reimbursed for the value added tax that I paid when shopping in Busan? 

A. Yes, reimbursement of the value-added tax (VAT) is possible on merchandise purchased of 30,000 won ($28) or more.

Foreigners are able to get reimbursed if they leave Korea within three months of the date of purchase at duty-free stores that have agreements with reimbursement companies like Global Refund or Korea Refund.

Submit your passport and necessary documents at the International Airport or to port customs officials to receive a stamp to obtain reimbursement at the tax reimbursement counter.

Global Refund refers to a system where foreign tourists or overseas Koreans receive reimbursements for VAT or special consumption taxes they pay when buying goods in Korea.

These refunds are issued upon departure from Korea on condition that the goods purchased are taken out of the country.

Source: Busan City News


 

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