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Article: Getting back your VAT: refunds can mean big savings on European goods. (value-added tax)(Spending: Travel)
- Article from:
- Kiplinger's Personal Finance Magazine
- Article date:
- June 1, 1995
- Author:
CopyrightCOPYRIGHT 1995 The Kiplinger Washington Editors, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Suppose you could return from Europe, your bags crammed with fine china, clothing and specialty foods, and still have enough cash left for a welcome-home dinner. It could happen with discounts such as these: * A $498 cashmere overcoat from Westaway, the famous London woolens store, $71 off. * A $594 Baccarat crystal vase from the Galeries Lafayette in Paris, $77 off. * A $178 porcelain figurine from the Royal Copenhagen store at Copenhagen's airport, $36 off after the discount.
Scenes from a Euro outlet mall; A wild scheme to prop up the dollar? No, these discounts are actually refunds to which all American travelers are entitled on the value-added tax (VAT) you pay ...