By: Chiu Po-sheng and Frances Huang
Taipei, June 10 (CNA) Tax refunds through the newly installed electronic value added tax (VAT)
refund mechanism for foreign visitors to Taiwan accounted for 73 percent of the VAT refunds for foreign tourists at airports and ports in the country during the May 1-22 period, the Ministry of Finance said Friday.
The convenience of the e-VAT refund system has encouraged many foreign tourists to use the mechanism since more than 60 VAT refund machines installed in airports and ports around Taiwan started operations May 1, the ministry said.
In the 22-day period, the ministry received 35,120 VAT refund applications through the E-VAT refund mechanism developed by Chunghwa Telecom Co. (中華電信), making up 73 percent of the total VAT refunds at Taiwan’s airports and ports during the same period.
Although Chunghwa Telecom charges a transaction fee of 14 percent, the speedy E-VAT refund mechanism has been still welcomed by foreign visitors. [FULL STORY]