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12/27/2010 Tax refund and new tax policies for foreign tourists in the Hainan Island

A few hours ago, was held a press conference by representatives of the Hainan Province Government, where it was reported, that the Chinese Government for the first time in China, from January 1, 2011 open a new tax policy for foreign tourists in the Hainan Province, which implies the possibility of returning to tourists certain types of taxes, when buying their goods in the Hainan Province.

Thus, the actual value of goods for foreign tourists will be significantly lower, than for citizens of the China.

This tax policy applies to goods, such as: clothes, shoes, cosmetics, watches, jewelry, electrical appliances, stationery, medical supplies, sporting goods, etc., a total of 324 types of goods.

To obtain a refund of tax,  you must to observe the following conditions and procedures:
1. You may refund of tax, if you are not a citizen of the China, you  visit China as a tourist,  and you must have lived in China not more, than 183 days of the date of purchase;
2. Tax refund is only valid for products, purchased in stores, listed on the tax refund agreement. Entitled to a tax refund does not apply to goods bought in other stores.
3. The purchase price shall be not less, than 800 yuan (RMB), in accordance with the tax bill for a tax refund.
4. Goods must be purchased for personal use only, within the amount not used for commercial purposes.
5. Tax refund does not apply to food, alcohol and tobacco products.
6. The goods must be exported, when you exit from China.
7.When you will  buy in the stores, ask them to give you an original tax invoice and the form of tax refund. Make sure, that all the details, including description, quantity, price, and your personal information, filled in completely and correctly.
8.In the airport look for a special point, designed to monitor and process of tax returns, which is located in the Duty-Free hall.
9. Give your products, the original tax bills and tax refund forms for inspection.
10.When you get a stamp on the forms,  you can continue the registration process.
11. Tax refund can be made at your discretion, in the form of cash payments or bank transfers.

At a press conference of representatives of the Hainan Province Government, it was emphasized, that  this new tax policy should do towns of Hainan Island, and especially the Sanya City, the most profitable in China  places of purchase various goods and will facilitate the development of international tourism in the  Hainan Island, attracting numerous tourists, visiting China, as the cost of many goods from January 1, 2011 in Hainan Province will be considerably lower, than in other provinces of China.

So, if you thought, where the most profitable in China to buy goods for personal use, then 1 January 2011 the answer to this question unambiguously- in the Hainan Island, more importantly, that the prices in stores, participating in this program, will not too high, compared with the prices of similar goods in traditional stores of China, or trade margin can neutralize the effect of income tax returns.
 More news about duty-free stores and tax refund stores in the Hainan Island can be found on our forum: http://hainanwel.com/forum/viewtopic.php?f=51&t=513


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