for VAT refund
Global Blue is the sole applicant
The Ministry of Finance has announced the date of bidding for the VAT refund for tourists and visitors to take place on November 17, to be carried out by the tender management.
The ministry had conducted three biddings before, but only Global Blue, the operating company since 2002, has applied to handle the job. A contract by mutual consent may be signed once again with Global Blue if no other competitors have presented different offers.
Joe Yacoub, the Country Manager of the Swiss company in Lebanon said: “For such a financial fiscal management, the applicant must have international experience and there must be a permanent and constant auditing,” explaining the reason of the competitor’s absence. The company’s reimbursement charges are 18.50 percent on transactions, as defined in the contract.
In an insight into the purchases by tourists in Lebanon whose VAT was claimed, according to Global Blue, the spending distribution shows that KSA was ranked first by 14 percent, followed by the UAE by 13 percent, Kuwait six percent, and France four percent.
About tourists’ shopping trends for the same period, the category of fashion and clothing came first by 72 percent, followed by watches and jewelry by 13 percent.
The number of refunded transactions, comparing the third quarter of 2015 with its equivalent in 2014, shows the ratio has risen by nine percent.
Date Posted: Oct 13, 2015