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VAT Refund Detection

IP.com Disclosure Number: IPCOM000242089D
Publication Date: 2015-Jun-18
Document File: 2 page(s) / 121K

Publishing Venue

The IP.com Prior Art Database

Abstract

Disclosed is an automated system for tracking, reminding, and receipt presentation for Value Added Tax (VAT) refunds for travelers.

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VAT Refund Detection

Many countries levy a Value Added Tax (VAT) on goods sold in the country. Most of the countries that levy a VAT allow travelers leaving the country to obtain a refund of the VAT paid on many goods. However, this process is cumbersome, as the traveler must remember to request the VAT refund upon leaving the country, as well as which goods are eligible for the refund, and then must present the receipts along with the goods to a customs official when leaving the country.

Companies exist that provide services at a corporate level to companies making many VAT refund eligible purchases as part of a business. However, no such services are available to the individual/occasional traveler making personal VAT refund eligible purchases.

The novel contribution is an automated system for tracking, reminding, and receipt presentation for VAT refunds. It is a mobile phone application, with interfaces to credit card company(s), travel applications, and barcode scanners known in the art, to provide a comprehensive VAT refund system for the traveler. Additionally, it may interface with customs agencies in participating countries.

This has the following advantages:


 Increased utilization of VAT exemption on overseas purchases


 Easier compliance with VAT exemption requirements


 Less need for paper receipt handling and storage


 Decreased time at the airport when departing with VAT exempt purchases

From the credit card interface, the system extracts purchases made using credit card in a foreign country and, potentially, a travel itinerary. When a traveler's itinerary o...