Korea’s tax refund system becomes super convenient with the introduction of on-the-spot refunds

Shopping till you drop is a must-do when traveling in Korea, but many tourists give up on getting tax refunds due to the complicated procedures — and I’m one of them too.

 Photo by daxxx 

To make shopping more convenient for visitors, the Korean government has finally launched a new “on-the-spot tax refund system.” Starting from January 2016, foreign customers shopping at department stores or shops can enjoy an immediate tax exemption for single purchases between 30,000 KRW and 200,000 KRW, with a total purchase amount not exceeding 1,000,000 KRW. The 10% VAT will be deducted on the spot. If the amount exceeds 1,000,000 KRW, customers will still need to claim their refund at the airport.

Participating merchants currently include popular shopping spots loved by Hong Kong people such as Lotte Department Store, large supermarkets, Olive Young, and more. Even though the refunded amount may not be huge (the maximum is 100,000 KRW), it’s still great for treating yourself to a nice meal or buying a few extra items.

Implementation date: Starting from January 1, 2016
Note: You must present your passport to enjoy the on-the-spot tax refund benefit
Merchants that already offer on-the-spot tax refunds:http://www.koreagrandsale.co.kr/en/board/551

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