Soutce: philstar.com
Singapore launched an electronic goods and service tax refund system on Wednesday to make it more convenient for tourists.
The Electronic Tourist Refund Scheme (eTRS) was jointly developed, deployed and operated by the Inland Revenue Authority and Global Blue, an international company offering payment solutions.
Under the system, international shoppers can choose a credit card as a token to which all their purchase details are tagged automatically. The same token will be presented at the eTRS self-service kiosk at the airport so that the refund can be credited directly into the same credit card account.
Visitors can also choose to receive refunds in cash.
Shoppers who do not have credit cards will have slips issued to them from retailers who have adopted the eTRS system, and the slips can be used to claim refunds through the kiosks.
The time taken to complete the refund claim process is reduced by about 80 percent.
Since end-October 2011, some 1,400 retailers covering more than 2,000 stores in Singapore have adopted the system. By August 2012, the number of retailers using the system will increase to 3,500.
The Singapore government is the first to implement the eTRS that can link up multiple central refund agencies and independent retailers on a common platform to provide foreign travelers with the tax refund.
Ten other countries will have electronic refund systems within two years.