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Shipping and Yachting
September, 18 2018
September, 4 2018
Third-country nationals to get faster VAT refunds through new agreement
Non-EU nationals will be able to get a VAT refund on items bought in Malta in a faster, more efficient way, following an agreement signed today at the ministry of finance, according to a statement by the ministry.
“Through this agreement, international tax-free shopping operator Fintrax Group will be setting up an office under the brand Premier Tax Free at Malta International Airport, in order to provide an improved service,” read the statement, adding that the current process for dealing with such refunds involves “a great deal of bureaucracy,” and could last up to six months.
Fintrax Group was selected following an international request for proposals which was issued after a legal notice in 2015. Moreover, the ministry said that Premier Tax Free will be vetting applications for and issuing such refunds, marketing the scheme to non-residents and local retail outlets, as well as providing a scheme to retailers to participate in international marketing of the VAT refund scheme.
“Fintrax Group is one of the world’s leading tax free shopping companies with over 30 years’ experience. Through Premier Tax Free it provides refund services to international shoppers via hundreds of refund points spanning across 31 countries,” said the ministry.
Finance minister Edward Scicluna said that through this agreement, the government will be seeking to attract more business to local retail outlets and will continue its drive to eliminate bureaucracy.