Tax free shopping news and archive

Cross-border fashion shopping booms as consumers hunt for deals

Rising prices are driving more consumers to shop across borders for fashion deals, with an appetite for discounted and unique items outweighing trust concerns, according to new research. A survey of 2,000 consumers in the US and UK by e-commerce platform Nosto found that 70 percent of cross-border online shoppers are likely to purchase fashion...

Retail

Tourist tax harmful to the UK, says retail Landlord

In Westminster Hall last week, Members of Parliament convened to discuss tax-free shopping for international visitors. The debate has sparked a wide range of opinions amongst the UK’s retailers, with the majority advocating for aVAT-free shopping scheme to attract foreign visitors and remain competitive against other European destinations. Hugh...

Retail

Europe is seeing a boost in tax free shopping

Europe is seeing a boost in tax free shopping with a 726 percent jump in May compared to 2021. As European borders re-opened and travel without quarantine is possible, tax free shopping is rising, despite being 37 percent below 2019 levels. The figures were released in an intelligence report by Planet, a payment solutions company that offers...

BusinessFeatured

Kurt Geiger CEO warns of job cuts following government's tax-free shopping 'own goal'

Kurt Geiger CEO Neil Clifford has said the company is planning another 500 job cuts - equating to over a quarter of its workforce - early next year following the government’s announcement in September it would be scrapping tax-free shopping on 31 December. In a letter to chancellor Rishi Sunak, seen by Drapers, Clifford described the government’...

RetailFeatured

UK government warned scrapping tax-free shopping could risk 70,000 jobs

Retailers have warned the government that its proposed plan to scrap tax-free shopping at the end of this year could lead to 70,000 job losses. The UK Treasury earlier this month said that the retail scheme, which allows non-EU shoppers to reclaim VAT paid on purchases, would be scrapped at the end of December. It would make the UK the only...