Britain will bring back sales tax-free shopping for overseas visitors to boost the countryโs flagging retail sector, finance minister Kwasi Kwarteng said on Friday (23).
โBritain welcomes millions of tourists every year, and I want our high streets and airports, our ports and our shopping centres, to feel the economic benefit. So we have decided to introduce VAT-free shopping for overseas visitors,โ he told parliament during the presentation of a mini-budget.
A previous tax-free shopping was abolished at the end of 2020. Kwarteng said the government would replace the previous paper-based system with a digital one. โAnd this will be in place as soon as possible.โ
Linda Ellett, KPMGโs UK head of consumer markets, retail and leisure, said the move would increase the UKโs competitiveness when it comes to attracting international visitors.
โThis is all the more key as we look to find ways to create economic growth, return international tourism to pre-pandemic volumes, and withstand rising inflation on the high street,โ she said. (business of fashion, Reuters)
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