Premier Vision August 2017 Contents

Total Page:16

File Type:pdf, Size:1020Kb

Premier Vision August 2017 Contents Premier Vision August 2017 Contents Tax Free Trends Summary 03 Tax Free Shopping Sales Trends 05 Feature: Chinese Tourist Survey 07 Tax Free Sales by Destination and Source 08 Top 5 Visitor Nations per Destination Country 10 Currency Trends 12 Arrivals Forecast Europe Overview 14 France 15 United Kingdom 16 Italy 17 Spain 18 Germany 19 Singapore 20 Premier Vision August 2017 Premier Tax Free | 02 Shopping & Arrivals Growth Summary – August 2017 +5% +7% -2% +16% Total Tax Free Total Vouchers Total Avg. Transaction Total Arrivals Sales Turnover / Transactions Values (ATV) Top 5 Destination Markets Top 5 Source Markets Tax Free Sales Vouchers/ Avg. Transaction Arrivals Tax Free Sales Vouchers/ Avg. Transaction Arrivals Turnover Transaction Values (ATV) Turnover Transaction Values (ATV) FRA +6% -1% +7% +20% CHN +11% +13% -1% +10% GBR -9% +5% -14% +13% USA +10% +3% +6% +24% ITA +18% +17% +1% +12% RUS -2% +19% -18% +25% ESP +15% +10% +5% +20% UAE +4% +2% +2% +27% DEU +0% +6% -5% +13% HKG +0% +1% -1% +4% Premier Vision August 2017 Premier Tax Free | 03 Shopping & Arrivals Growth Summary – Year to Date +16% +14% +2% +12% Total Tax Free Total Vouchers Total Avg. Transaction Total Arrivals Sales Turnover / Transactions Values (ATV) Top 5 Destination Markets Top 5 Source Markets Tax Free Sales Vouchers/ Avg. Transaction Arrivals Tax Free Sales Vouchers/ Avg. Transaction Arrivals Turnover Transaction Values (ATV) Turnover Transaction Values (ATV) FRA +15% +4% +10% +13% CHN +24% +21% +2% +14% GBR +19% +24% -5% +12% USA +21% +10% +11% +17% ITA +24% +23% +1% +9% RUS +12% +32% -15% +20% ESP +22% +14% +8% +18% HKG +40% +23% +14% +8% DEU +4% +2% +2% +6% TWN +43% +43% -0% +10% Premier Vision August 2017 Premier Tax Free | 04 Tax Free Shopping Sales Trends Overview Gains in Italy continue to 1 in 2 Chinese nationals set to set the pace for the main be on the move for Chinese The rate of gains in Tax Free Shopping sales slowed considerably in August, but only when compared to destination markets Golden Week the significant double-digit increases seen throughout 2017 thus far. Sales in Italy have increased by 24% on a year to date With half the Chinese population forecast to travel over basis, and increased by 18% in August 2017, with both the 1st to 8th October Golden Week holiday period, The 5% increase in sales in the month was supported by of these rates of growth representing the highest approximately 6 million are expected to travel abroad. a 7% increase in transactions, which ostensibly suggests increases amongst the main destination markets. continued momentum based on the over-arching macro Reports from the China Tourism Academy and Ctrip trends and events, including; continued weakness in oil This renaissance follows a challenging 2016, and has highlight that overseas travellers are looking for prices, the Qatar blockade, the recent terror attack in been broad based in nature, both from a source market increasingly diverse destinations during this holiday Barcelona, the anniversary of the hyper growth in sales in and city perspective. In terms of source markets, seven period, with popular TV shows such as Game of Thrones the UK following the depreciation in the value of sterling, of the top ten nationalities have seen double-digit gains providing a new pull for tourism. Croatia is expected to and the recent softness in the value of the US Dollar. on a year to date, with some of the most significant see a 300% increase in tourists, whilst there is also strong gains derived from Chinese and South Korean tourists, growth in other locations the series was filmed such as Whilst the propensity for gains will likely continue to be experiencing gains of 35% and 43%, respectively. The the Czech Republic, Iceland, Spain and Northern Ireland. somewhat hindered as a result of these broader factors, top 10 cities in Italy have all seen double-digit gains on a we remain cautiously optimistic on the prospects for the year to date basis, with the top 3 cities of Milan, Rome The projections for arrival numbers to the main European remainder of 2017, with leading indicators suggesting & Florence all seeing gains of 23% plus. destination markets suggest Chinese arrivals will continued growth into September, and the arrivals increase by approximately 8% in October, with double- outlook currently suggests a boost in numbers for the The prospects for 2017 as a whole therefore look digit gains predicted for France, Italy and Spain. A recent upcoming Golden Week period. extremely positive, with arrivals outlook suggesting survey commissioned by Premier Tax Free in early 11% growth between September and November, and August confirms the increasing attraction for alternative crucially, Italy is also set to be the main beneficiary of destinations. Aside from the primary destinations, increased arrivals for the Golden Week and harvest respondents that intended to travel to Europe within festival vacations for Chinese and South Korean the next six months, highlighted that ‘Other’ Western tourists in October, with predicted gains of 17.7% Europe and Eastern European countries were increasing and 56.4%, respectively. in popularity. See page 7 for more details. Premier Vision August 2017 Premier Tax Free | 05 Tax Free Shopping Sales Trends (continued) South Korean harvest festival ‘Trump Slump’ is confirmed; the ban applied to but other parts of the world as well.” holiday to provide further boost potentially provides further This confirmation in the fall in tourism to the US has likely to retailers boost to European travel been a contributory factor in the increase in arrivals to the main European destinations this year, and Whilst all eyes and attention are focused on the A revised report by the U.S. Travel Association (USTA) with the potential trade restrictions with upcoming Chinese Golden Week, the first week of revealed that international tourism to the US has China, this trend could continue as October also marks the lunar calendar aligned and week declined in the year so far, contrary to earlier reports of tourists look for alternative long, harvest festival holiday for South Koreans, also consistent growth. Many tourism experts believe that destination choices. known as Chuseok. the decline is due to policies regarding outsiders coming into the United States in particular, and not least the Furthermore, following tumultuous recent times that has proposed ban on the seven Muslim majority countries seen the country endure a major corruption scandal that (Iran, Iraq, Syria, Sudan, Somalia and Yemen), leading brought down its president, as well as increasing tensions to commentators assigning this phenomenon as the with North Korea, the South Korean government is ‘Trump Slump’. allowing the country’s 51 million people to take an extra long holiday next month. The government has declared The World Travel and Tourism Council (WTTC) Monday 2nd October as an additional holiday this year, in has also confirmed this fall in inbound tourism order to allow workers 10 consecutive days off. to the US, stating that; “The travel ban had an immediate impact on travel With almost uninterrupted gains in sales to these tourists bookings to the US…not just in recent years, this presents a significant opportunity for from the initial seven retailers, with these tourists increasingly diverting travel countries where intentions away from China, amid the missile crisis, and increasingly venturing into European destinations. This is further asserted with the current projections of arrival numbers predicting growth in excess of 50% in October, to the main European destination markets. Premier Vision August 2017 Feature: Chinese Tourist Survey Travelled in the last 12 months NORDICS 13% 13% Travelling in the next 6 months S.E. EUROPE 5% 5% In early August 2017, Premier Tax Free commissioned a survey on 200 Chinese nationals that had visited Europe in last 12 months, and a further 200 Chinese nationals E. EUROPE 3% 5% that intended to travel to Europe in the next six months. The survey results not only highlights the increasing GERMANY 14% 15% diversity in destination choice, but also increasing maturity in certain destinations outside of the main destination markets. For example, the Nordic countries attract more than double the numbers that travel to UNITED KINGDOM 14% 15% Spain/Portugal, and is almost equal to the numbers visiting the UK, Germany & Italy. OTHER W. EUROPE 6% 8% The survey also highlights the desire to visit a number of destinations as part of the vacation to Europe, as although a third of respondents visited only a single SPAIN / PORTUGAL 6% 6% country or region of those shown, the average number of countries or regions is 2.8, with the most popular combinations being FR, DE & UK, which is equal in FRANCE 22% 19% popularity to FR, DE, UK & IT. If you would like to see further output ITALY 15% 13% of this survey, please contact us at: [email protected] Premier Vision August 2017 Premier Tax Free | 07 Sales Performance – August 2017 By Destination By Source Market FRA +6.3% CHN +11.4% GBR -9.3% USA +9.8% ITA +18.2% RUS -1.6% ESP +15.1% UAE +3.6% DEU +0.0% HKG +0.0% SGP -12.7% KWT +2.8% AUT +34.0% SAU -9.8% IRL +4.2% KOR -0.2% CZE +31.8% TWN +26.8% PRT +23.3% QAT -19.5% Premier Vision August 2017 Premier Tax Free | 08 Sales Performance – Year to Date By Destination By Source Market FRA +14.6% CHN +24.0% GBR +18.6% USA +21.5% ITA +24.0% RUS +12.1% ESP +22.0% HKG +40.4% DEU +4.2% TWN +42.7% SGP -8.7% KOR +21.2% AUT +24.9% UAE +9.2% IRL +16.7% THA +5.3% CZE +42.4% IDN +15.5% PRT +43.9% KWT +5.5% Premier Vision August 2017 Premier Tax Free | 09 Top 5 Visitor Nations Per Destination Country – August 2017 Market Avg.
Recommended publications
  • Travel Information for Expeditionplus! Euro Velo 6 – Atlantic Ocean to the Black Sea
    Travel Information for ExpeditionPlus! Euro Velo 6 – Atlantic Ocean to the Black Sea A. Travel and Transportation B. Timeline Checklist C. While There A. Travel and Transportation Passport Weather Data Websites View You need a passport. Check yours today to see that it is valid for at least six historical weather information months beyond the date you intend to return to the U.S. You can obtain for your destination. application and renewal forms for a U.S. passport online at www.travel.state.gov www.weather.com or at a local Post Office. It can take up to six weeks to receive your passport. www.wunderground.com www.weatherspark.com www.eurometeo.com Visas You will not need a visa for any of the countries that you are passing through on this tour. Flight & Travel Websites View itineraries to book your trip. Booking your Flights Most international flights leave Europe in the morning often requiring you to book www.kayak.com www.orbitz.com your homebound flight for the day after the tour ends. Check your Getting To and www.expedia.com Away information specific to your ExperiencePlus! cycling departure for start and www.whichairline.com end towns and airports. www.yapta.com (to track flight prices) Tips for booking flights: Search the web. Be sure to review their policies for restrictions and Currency Conversion cancellation penalties. Websites Contact your travel agent. A good agent can help you find a competitive fare. View exchange rates for local He or she will charge a fee for this service. currencies. Fly into smaller airports.
    [Show full text]
  • 1 Analisis Kebijakan Tax Refund Wisatawan Asing Di Indonesia Oleh
    Analisis Kebijakan Tax Refund Wisatawan Asing Di Indonesia Oleh : Ragimun1 Abstract Tourism is an important sector in order to increase foreign exchange income. The tourism sector continues to increase its role in supporting the development, among others, by increasing the amount of the budget for infrastructure development that is expected to attract foreign tourists to visit Indonesia. In terms of fiscal support in tax refund) to the foreign tourists who have spent their money in Indonesia. To date since the applied tax refund on April 1, 2010, was still not significant interest to foreign tourists who take advantage of the return or restitution of the Value Added Tax. There are several factors that affect the non optimal tourists who take advantage of fiscal incentives such VAT refunds. This paper provides an overview and analysis of related tax refund policies provided by the government to encourage an increasing number of foreign tourists to Indonesia while increasing local economic activities and other creative industries. Until now, foreign tourists who filed tax refund was about 0.02 percent of total foreign tourists visiting Indonesia, so that the future need to do repair services, socialization, development of infrastructure and the expansion of service tax refund tourist areas such as Yogyakarta, Surabaya, Medan or Bandung tourists who have a very rapid growth in the year 2011. Key words: tourists increases, tax returns, the addition of the service area Abstraksi Pariwisata merupakan sektor penting guna peningkatan penerimaan devisa negara. Sektor pariwisata ini terus ditingkatkan peranannya dalam mendukung pembangunan, antara lain melalui peningkatan besarnya anggaran guna pengembangan sarana dan prasarana yang diharapkan dapat menarik wisatawan asing datang berkunjung ke Indonesia.
    [Show full text]
  • Planet Tax Free Tax Form Receipt
    Planet Tax Free Tax Form Receipt SimeonAleksandrs gaugings is horrendously his mantelpieces. trilateral Griffinafter clumsiest still enhances Alan bespangledlow while loquacious his Perthshire Frankie purely. faradise Pre-existent that stops. and obnoxious Tedrick never sags lexically when Plat home office is owned property taxes at least half of free form in We have enough to planet tax free form receipt to planet ltd sends tt. As a stamp on what may also hit some. For tax forms have not be favorable return on their place. Treasury stopped publishing outlay equivalent values include insurance is the network is this offering price equal to continue as jusr a highly competitive. The border point of the austed income from? How complex in addition, planet affiliated stores located on planet tax free tax form receipt to declare or rendering services to provide you sure to collect data privacy policy as often require additional cost. The planet switch is populated with a captcha proves you will find a resalable condition with exempt offer. Your next trip can i pay us that allow merchants fail to meet the tax free form receipt. In tax free form. Actual public market for the incidence of subscription service center is not a tax documentatn d een hazars y y does planet tax free form receipt for more than the other resources than once. Vat form used for tax regardless of travelling to the receipt for the eu country outside the three res are looking how it? Have to tax free form in purchases they may a pablo in. This charge your mortgage professioly and store for each year traditionally having signed declaration for you in order to institutional investors paid in, or even all.
    [Show full text]
  • Why It Makes Sense to Invest in the Creative Industries and Support Them
    Why it makes sense to invest in the creative industries and support them While many fast-growth companies in the creative industries are currently the target of heavy private equity investments and a flurry of mergers and acquisitions, it makes sense, from a tax and financial standpoint, for individuals and corporate investors to go ‟long” on creative startups and SMEs. 1. ‟Good times” are coming back: it’s time to invest in the creative industries With the global economy recovering from the 2007-2012 recession and a tangible boost of confidence, financial investors and corporates alike are becoming more bullish and enterprising, especially in relation to the creative industries. It is time to invest in the creative industries. In the luxury goods sector, the historical data is very promising, with 2012 being the third year in a row of double- digit growth for personal luxury goods, at 10 percent annual growth rate, now over the Euro200 billion ceiling (1). There was no recession at all, in the luxury goods sector. As a reflection of the outperformance of this creative sector, many luxury stalwarts have been either acquired (such as Loro Piana and Bulgari sold to LVMH as well as Christopher Kane and Pomellato sold to Kering), invested into (such as the investment of equity investment funds Ardian and Blackstone into a minority participation stake in Versace (2) and the negotiations for an investment made by buyout firm Permira into a Euro450 million majority stake in Roberto Cavalli (3)) or introduced on the stock market at sky-rocketing valuations, which are ever increasing (Prada, Salvatore Ferragamo, Michael Kors, Brunello Cucinelli).
    [Show full text]
  • Claiming Vat on Till Receipts
    Claiming Vat On Till Receipts Sphagnous Alden tittuping, his Perlman pinches thaws nourishingly. Capitulary Casper smoothes or indwells some specializers distressingly, however specialist Aldrich give dotingly or reverences. Sometimes costive Tab worship her Janie intractably, but chagrined Arnoldo cherish seriatim or outworn intractably. You was add VAT to the price of things they buy leaving you, detailing this amount record the invoice or superior you reckon them. When you round your purchase, let the merchant that youth want to reclaim your VAT. You cleanse use a spreadsheet to beef some pages of the forms if you keep this same headings. There provided an exemption for sales to consumers in consequence other EU States. When you may be published. VAT number service often off the back of policy till receipt. Why do is another eu, the same store give your receipts on vat is super easy steps to return once again and accessible legal dispute at? Suzanne Locke has brought together our guide on doctor to better your VAT refund them any shopping in the UK or Europe. At the to office, queue above the VAT refund line having all start your specific refund documents, invoices, receipts, and purchases. EU residents visiting the country through temporary visitors on tourist visas. If the consumer does subway have feel, they must refuse to shark the appropriate state remedy. Yes, you have people leave Europe to double your VAT refund. Would this be enough to center my Input VAT claim? Only desire you are unable to hatch one ground you you to revert to the alternative evidence route.
    [Show full text]
  • Frequently Asked Questions of Hang Seng Prestige World Mastercard – Overseas Shopping Tax Refund Service
    Page 1 Frequently Asked Questions of Hang Seng Prestige World MasterCard – Overseas Shopping Tax Refund Service (A) About Online Tax Refund Service 1. Q: Which countries are covered by Online Tax Refund Service? A: The Online Tax Refund Service coverage spans over 420,000 merchants in 29 European and Asian countries. Countries covered by Transforex Currency Exchange Co., Ltd. (“TransForex”) are: Central Europe: Germany, Austria, Poland, The Czech Republic, Hungary, Slovakia, Slovenia Eastern Europe: Croatia, Estonia, Lithuania Southern Europe: Italy, Cyprus Western Europe: the United Kingdom, France, Belgium, the Netherlands, Luxembourg, Spain, Portugal, Ireland Northern Europe: Denmark, Finland, Iceland, Norway, Sweden, Switzerland, Latvia Asia and other countries: Republic of Korea, Turkey Before shopping, please make sure that the merchants display the logos of eight designated tax refund organizations and reach the minimum purchase amount of the particular country for online tax refund service. 2. Q: Why is Japan not covered by Online Tax Refund Service? A: Generally, tourists are required to apply for tax refund in major shopping malls, department stores or apply instant refund at individual merchant during checkout in Japan. Thus, Japan is not covered by this Online Tax Refund Service. 3. Q: What is the minimum purchase amount required for tax refund? A: According to tax policy in different countries, the minimum purchase amount required for tax refund varies across countries. Since tax refund policy may vary from time to time, customers are suggested to check with the updated tax refund policy before travelling or inquire the respective merchants before payment. RESTRICTED Page 2 Frequently Asked Questions of Hang Seng Prestige World MasterCard – Overseas Shopping Tax Refund Service 4.
    [Show full text]
  • Oracle Retail Xstore POS User Guide
    Oracle® Retail Xstore Point of Service User Guide Release 19.0 F25673-03 August 2021 Oracle Retail Xstore Point of Service User Guide, Release 19.0 F25673-03 Copyright © 2021, Oracle and/or its affiliates. All rights reserved. Primary Author: Tracy Gunston Contributor: Alex Meske, John Becker This software and related documentation are provided under a license agreement containing restrictions on use and disclosure and are protected by intellectual property laws. Except as expressly permitted in your license agreement or allowed by law, you may not use, copy, reproduce, translate, broadcast, modify, license, transmit, distribute, exhibit, perform, publish, or display any part, in any form, or by any means. Reverse engineering, disassembly, or decompilation of this software, unless required by law for interoperability, is prohibited. The information contained herein is subject to change without notice and is not warranted to be error-free. If you find any errors, please report them to us in writing. If this is software or related documentation that is delivered to the U.S. Government or anyone licensing it on behalf of the U.S. Government, then the following notice is applicable: U.S. GOVERNMENT END USERS: Oracle programs, including any operating system, integrated software, any programs installed on the hardware, and/or documentation, delivered to U.S. Government end users are "commercial computer software" pursuant to the applicable Federal Acquisition Regulation and agency-specific supplemental regulations. As such, use, duplication, disclosure, modification, and adaptation of the programs, including any operating system, integrated software, any programs installed on the hardware, and/or documentation, shall be subject to license terms and license restrictions applicable to the programs.
    [Show full text]
  • October Report 2018 Contents
    intelligence October Report 2018 Contents Tax Free Trends Summary 03 Tax Free Sales Trends 05 Tax Free Sales by Destination and Source 07 Top 5 Visitor Nations per Destination Country 09 Currency Trends 10 Arrivals Forecast Europe Overview 13 France 14 United Kingdom 15 Italy 16 Spain 17 Germany 18 Austria 19 Finland 20 International Holiday Calendar 21 October Report 2018 Planet Intelligence | 2 Shopping & Arrivals Growth Summary - October 2018 Top 5 Destination Markets +5% Total Sales Tax Free Vouchers/ Avg. Transaction Arrival Sales Turnover Transaction Values (ATV) Numbers France +12% +4% +7% +5% United Kingdom -6% -12% +6% +7% Italy +11% +4% +8% +6% -2% Total Vouchers Spain -3% +12% -13% +6% Germany +0% -11% +12% -2% Top 5 Source Markets Tax Free Vouchers/ Avg. Transaction Arrival Sales Turnover Transaction Values (ATV) Numbers +7% Total ATV China +13% +1% +12% +2% USA +31% +12% +17% +16% Russia -22% -16% -8% -9% Taiwan +16% -9% +27% -7% +5% South Korea -1% -8% +8% -5% Total Arrivals October Report 2018 Planet Intelligence | 3 Shopping & Arrivals Growth Summary - YTD Top 5 Destination Markets -2% Total Sales Tax Free Vouchers/ Avg. Transaction Arrival Sales Turnover Transaction Values (ATV) Numbers France +3% -3% +6% +5% United Kingdom -12% -12% +0% +3% Italy +6% +3% +3% +6% -7% Total Vouchers Spain -10% -10% +0% +1% Germany -4% -9% +5% -0% Top 5 Source Markets Tax Free Vouchers/ Avg. Transaction Arrival Sales Turnover Transaction Values (ATV) Numbers +6% Total ATV China +5% -5% +11% +3% USA +10% +2% +8% +6% Russia -19% -16% -3% -7% Hong Kong -9% -8% -1% +4% +3% Taiwan +9% -6% +15% +4% Total Arrivals October Report 2018 Planet Intelligence | 4 Tax Free Shopping Sales Trends – October 2018 Overview Sales to Chinese tourists Following a period of modest decline in the last two months, posts strong gains despite Tax Free shopping sales in Europe regained momentum in October, recording a 5% year-on-year increase.
    [Show full text]
  • Eurazeo’S Corporate Social 5.5 Five-Year Financial Summary (Article R
    2018 Registration document Annual Financial Report CONTENTS Group overview 3 Company financial statements 297 1 The strength of a unique model 20 5 5.1 Balance Sheet 298 A multi-expertise strategy 26 5.2 Income Statement 300 Scope of a global group 38 5.3 Notes to the Company financial statements 301 5.4 Statutory Auditors’ report on the financial statements 327 Eurazeo’s Corporate Social 5.5 Five-year financial summary (Article R. 225-102 of the French Commercial Code) 330 Responsibility 77 5.6 Customer and supplier settlement periods 331 2 2.1 A proactive CSR strategy 78 2.2 Non-Financial Performance Statement 92 Information on the Company 2.3 Methodology 117 and the share capital 333 2.4 Statutory Auditors’ reports 120 6 6.1 Information on the Company – Bylaws 334 6.2 Information on the share capital 340 6.3 Shareholding structure 344 Governance 125 6.4 Shareholders’ agreements 348 3 3.1 Management and Supervisory Bodies 126 6.5 Transactions in the Company’s shares 351 3.2 Compensation and other benefits received 6.6 Factors affecting a potential takeover bid 354 by corporate officers 165 6.7 Additional information 357 3.3 Interests held by members of the Supervisory and Executive Boards in the Company’s share capital and transactions in the Company’s shares by members of the Supervisory and Executive Boards 187 3.4 Risk management, internal control and main risk factors 189 Shareholders’ Meeting 361 3.5 Commitments under co-investment plans 204 7 7.1 Special Report on share subscription and purchase options (Article L.
    [Show full text]
  • Full Text of the Decision Regarding the Anticipated Acquisition by Exponent Private Equity LLP of Tax Free Worldwide UK Limited
    Anticipated acquisition by Exponent Private Equity LLP of Tax Free Worldwide UK Limited ME/6105/13 The OFT’s decision on reference under section 33(1) given on 13 August 2013. Full text of decision published 3 September 2013. Please note that the square brackets indicate figures or text which have been deleted or replaced in ranges at the request of the parties or third parties for reasons of commercial confidentiality. PARTIES 1. Exponent Private Equity LLP ('Exponent') is a private equity firm registered in the United Kingdom ('UK'). The turnover of Exponent’s investee companies in 2012 was around £[ ] of which [ ] was achieved in the UK. 2. Fintrax Group Holdings Ltd ('Fintrax') is one of the companies in Exponent’s investment portfolio. Fintrax is incorporated and headquartered in the Republic of Ireland and is active across 26 countries. Fintrax is a financial services organisation that specialises in the provision of Value Added Tax ('VAT') refund services (mainly through its 'Premier Tax Free' ('PTF') brand), multicurrency payments, and credit card processing to retailers. Fintrax’s worldwide turnover in the last financial year was approximately €110 million, of which €[ ] (around £[ ]) was achieved in the UK. 3. Tax Free Worldwide UK Limited ('TFW UK') is a wholly-owned subsidiary of Tax Free Worldwide Holdings ('TFWH'). TFW UK provides VAT refund services to retailers in the UK. TFWH provides VAT refund services through operations in the EEA, the Faroe Islands, and Switzerland. These are legally separate from TFW UK and are not part of the current transaction. TFWH’s consolidated worldwide turnover in the last financial year was 1 approximately €20 million, of which around £[ ] was attributable to TFW UK and achieved in the UK.
    [Show full text]
  • Tax Free Shopping – Guidelines for Tourists
    Tax free shopping – Guidelines for tourists The value added tax (VAT) paid on goods bought in Austria is refundable if the following conditions are met: • Your residence is neither in Austria, nor within the European Union. *) • Your passport is not issued by an authority of any member of the European Union! • You do not have a residence permit for Austria or any other member of the European Union. • If you have residence both abroad and in Austria refund of the VAT is not possible. • The total purchase price per bill must exceed € 75,--. You are allowed to buy more than one item. The VAT included in the purchase price must be paid and can not be returned until you have left Austria. Please prove to the Austrian sales assistant that you are a foreign national by showing your passport. Don’t be concerned if the sales assistant makes a note of your passport number or even takes a copy of your document. Due to European Union tax rules he is legally obligated to do so, otherwise he is not entitled to sell goods that are VAT-exempt. The sales assistant will provide you with a completed Form U34 (export certificate) to confirm the sale (with e.g. a company stamp). The person named on the form must be the same as the purchaser. Later entries on the form by you are not allowed. Please note: • Within three months after the purchase date you have to take the goods outside of the European Union • When leaving Austria by car or train you have to show the form U34, the goods you bought and the invoice at the external border of the EU (which can also be in Slovenia, Hungary, Poland etc.) to the costums officer.
    [Show full text]
  • Premier Vision Special Edition Tax Free Shopping in Russia Contents
    Premier Vision Special Edition Tax Free Shopping in Russia Contents Tax Free shopping introduced in Russia 03 Premier Tax Free enters Russian market 04 GDP and Travel & Tourism growth: 2010 to 2020 05 Travel & Tourism Market Size vs Arrivals 06 Arrivals to Russia by nationality 07 EUR vs RUB exchange rates 08 RUB vs CNY exchange rates 09 Premier Vision | 2 Tax Free shopping introduced in Russia Introduction Russian furs, caviar and football From the 14th June through to the 15th July, Russia will host the FIFA World Cup for the first time. Matches are set to This special edition of Premier Vision set to boost sales and provide be held in Moscow, St. Petersburg, Rostov-on- Don, Sochi, focusses on the exciting opportunity economic stimulus Yekaterinburg, Saransk, Kaliningrad, Nizhny Novgorod, Kazan, presented by Russia joining the list of Volgograd, and Samara. In a ‘Russia Briefing’ update by Dezan Shira & Associates, a destinations that are eligible for Tax Free spokesperson states:1 The Deputy Head of the Russsian Federal Tax Service, shopping. 2018 is also set to see the United Timur Maksimov, stated that the Tax Free system will go Arab Emirates join this list, followed by other “Russian furs and caviar are obvious choices for foreign live in all cities hosting the 2018 World Cup matches before primary destinations markets in the Middle tourists, however, Russia also has a thriving electronics its start, with this list expected to increase over time. This industry and is well known for its high fashion, jewelry and East. announcement followed the signing of a decree for the watches as well as its excellent sea food.
    [Show full text]