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China Ups Cap on Hainan Tax-Free Tourist Scheme

by Mary Swire, Tax-News.com, Hong Kong

01 February 2016


Since February 1, 2016, foreign visitors to Hainan Island in China have been able to obtain value-added tax (VAT) refunds on consumer goods purchased from designated shops up to a total limit of RMB16,000 (USD2,430) per year.

Hainan has piloted a VAT refund scheme since 2011. The scheme is open to residents of non-Chinese nations and also residents of Hong Kong, Macau, and Taiwan.

The maximum cap on the value of goods that could be refunded had previously been increased in 2012 to RMB8,000 per trip, up from RMB5,000. While refunds were available for a maximum of two trips each year, that limitation has now been removed.

A Chinese Ministry of Finance Notice on January 28 stated that the changes have been made in a further effort to boost inbound tourism and consumption.

TAGS: individuals | tax | business | value added tax (VAT) | China | Macau | Taiwan | Hong Kong | tax breaks | retail

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