CHINA will expand its instant value-added tax refund for foreign tourists nationwide to promote inbound travel and consumption. When purchasing goods at designated stores across China, foreign tourists can obtain tax refunds on-site by completing a credit card pre-authorization, the State Taxation Administration announced Tuesday. Upon departure, customs authorities will verify their identity and items to lift the pre-authorization. This service was earlier piloted in Beijing, Chengdu, Guangzhou, Hangzhou, Shanghai, and Shenzhen. It was applied to overseas tourists, as well as travelers from China’s Hong Kong, Macao, and Taiwan, who resided in the Chinese mainland for no more than 183 consecutive days. Promoting this instant tax refund service nationwide not only helps enhance the service level of China’s tourism industry but also further stimulates the consumption vitality of foreign travelers entering the country, said Li Xuhong, vice president of the Beijing National Accounting Institute. China’s value-added tax is 13%. China welcomed 131.9 million inbound tourists last year, up nearly 61% from 2023, according to the latest data from the National Bureau of Statistics. Among them, 26.9 million were foreigners, and 105 million were Chinese Hong Kong, Macao, and Taiwan residents. (SD-Agencies) | 