Retailers and VAT Refund Agents May Face Industry Disruption After EU Complaint
In April 2021, the European Commission received a complaint about the current VAT refund system for foreign tourists who purchase goods in EU countries. This refund is ostensibly intended to increase tourist spending and boost local economies. The complaint, filed by fintech startup Refundit, denounced two aspects of the current VAT refund system. Firstly, the …
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