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VAT refund on credit card increases by 15% the extra-EU tourist budget
Rather than dealing with the procedure at customs, anticipates the refund at the store, encouraging tourists to continue spending in the country.
Until now, before leaving Spain, extra-EU tourists had to stamp the documentation at the customs office to collect the VAT refund of their purchases. However, it is now possible to anticipate the payment and reimburse directly to the credit card, which can reach up to 15% increase of the visitor’s spending budget in our country, as estimated by Global Blue, the first tax free international operator.
Through this “Fast Refund” tourists can process the tax refund at the store on the credit card, after paying for their purchases, without having to wait for the day of departure, which increases their “available balance” to continue shopping during their stay.
Thus, although the traveler will have to go through customs before baggage check-in, this quick refund streamlines procedures, reduce waiting times and leads to a greater traveler satisfaction.