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System and Method to Assist the Foreign Visitors in the Process of Receiving Tax Refunds and Provide Marketing Promotions from Affiliated Stores

IP.com Disclosure Number: IPCOM000242115D
Publication Date: 2015-Jun-19
Document File: 6 page(s) / 202K

Publishing Venue

The IP.com Prior Art Database

Abstract

Disclosed is a Tax Refund System (TRS), for execution on mobile devices, which provides travelers/visitors with access to a country’s tax refund rules and procedures. In addition, the system allows business partners to offer products and promotions to visitors and associated friends based on an individual’s financial and social media data.

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System and Method to Assist the Foreign Visitors in the Process of Receiving Tax Refunds and Provide Marketing Promotions from Affiliated Stores

Several cities in different countries allow visitors to receive refunds on taxes paid while visiting those countries. However, the rules and processes for each location change and can be difficult to understand . The majority of visitors do not receive refunds due to:


A lack of knowledge of the process or rules pertaining to receiving a refund

Not submitting some forms or following the required procedures

Lack of time at the refund location (i.e. location is usually not easy to find at international airports)

Belief that too much work is involved for little money returned (this is not always the case, people can have a greater refund

coming back than expected)

In addition, companies that offer tax refunds might miss potential sales to these shopping visitors because the shopper only considers the noted price, not the final price after the tax is deducted from it.

Some solutions are in place that collect and categorize the financial data, as well as provide information about processes and procedures for collecting tax refunds. These solutions also integrate with a user's social media. None of these current solutions, however, provides an end-to-end process to enhance the visitor's travel experience. In addition, some solutions are either too geographically specific or do not explain the tax refund process that is relative to a country.

A system is needed to simplify the refund process and offer promotions from business partners that are compatible with the visitor's travel history or current wish lists.

The novel contribution is a system and method to assist foreign visitors with the process of receiving tax refunds when traveling abroad. The system itself is the main component of the novel contribution and is herein referred to as the Tax Refund System (TRS). The system context diagram in Figure 1 shows the proposed interfaces between the system and the external agents.

The TRS provides travelers/visitors with access to a country's tax refund rules and procedures including the information that a user needs to provide in order to receive a refund, how to find the refund location, the expected amount of the refund, and the turnaround time for receiving the refund. In addition, the system allows business partners to offer products and promotions to visitors and associated friends based on the individual's financial and social media data (e.g., typically purchased items for visitors of that age group, purchasing history, etc.).

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Page 02 of 6

The novel system and method assist the foreign visitors with the process of receiving the tax refunds originated from the purchases made during a trip and provide users with marketing promotions from affiliated stores that participate in the tax refund programs . One of the novel aspects is that the system maintains an updated list of sp...