Britain will bring back VAT-free shopping for overseas visitors in a bid to boost the country’s ailing retail sector, Finance Minister Kwasi Kwarteng said on Friday.
Britain welcomes millions of tourists every year and I want our high roads and airports, our ports and our shopping centers to feel the economic benefits. That’s why we decided to introduce VAT-free shopping for overseas visitors,” he told Parliament at the launch of a mini-budget.
Previous tax-free shopping was abolished at the end of 2020. Kwarteng said the government will replace the previous paper-based system with a digital one. “And that will happen as soon as possible.”
Linda Ellett, UK Head of Consumer Markets, Retail and Leisure at KPMG, said the move would increase the UK’s competitiveness when it comes to attracting international visitors.
“This is all the more important as we look at ways to create economic growth, return international tourism to pre-pandemic volumes and weather soaring high street inflation,” she said.
It is unclear whether the reintroduction of tax-free shopping would apply to visitors from Ireland, to goods bought online and between the Republic and Northern Ireland.
https://www.independent.ie/world-news/europe/britain/britain-to-re-introduce-tax-free-shopping-for-overseas-visitors-42011957.html Britain to reintroduce tax-free shopping for overseas visitors