How A Lawsuit Could Make The VAT Work Better For Tourists
Americans traveling in Europe (and many countries outside the EU) are entitled to a refund of the hefty value-added taxes (VAT) they pay on purchases of jewelry, designer clothes, branded handbags, and other keepsakes they pick up on their travels. The potential savings are not insignificant: In Europe the value-added tax can be as high as 27 percent. Q1 2021 hedge fund letters, conferences and more Claiming The VAT RefundHowever, few tourists to Europe - American or otherwise - bother to claim the refund. One reason is that it can be a hassle to obtain: the process requires them to fill out a...