FingerTec Newsletter Vol: 10 Year: 2015 | GST Refund with Global Blue for Foreign Clients


	GST Refund with Global Blue for Foreign Clients

The year 2015 marked the implementation of the goods and services tax (GST) in Malaysia where supply of goods and services are charged with 6% tax rate. With many purchases of FingerTec products come from overseas, it is only fair that they get the option for a tax refund. While usual order shipments get a refund through the use of K2 customs declaration form for declared goods, clients who come and make direct purchases from within the country will be subjected to the GST. And so a means of letting such clients get their tax refunds is necessary.

Global Blue is a private tax refund company based in Switzerland and is mostly known for promoting tax-free shopping, making it easy for tourists to claim tax refunds from sales tax, GST, or consumption tax. Tourists are more inclined to spend their money if they can avoid paying the locally enforced taxes, benefiting both clients and sellers.

TimeTec Computing has registered for the Tourist Refund Scheme (TRS) through Global Blue and is now considered an affiliated merchant. With this status, foreigners who come and purchase directly from our office and carry the items on flight with them will no longer be subjected to the GST. Here’s a look at how the tax refund works:


		Purchase a minimum of RM300 (single receipt or more from the same store)
		An online form will be filled out by the store. Clients receive a printed copy.
		Clients present printed copy at the airport and Global Blue will check the online form for verification
		Clients will receive 85% of the GST amount. 15% goes to processing fee.
		Clients who want refund in cash at the airport will only receive up to RM300.
		Clients who want the whole 85% refund will receive a transfer to a credit card or bank account within a few weeks.

This move hopes to not deter even more clients to make purchases directly from our headquarters and to provide a solution to effectively reduced unnecessary costs. Foreign clients no longer have to worry about making the trip to Malaysia and can do so at their convenience. Click here for a more detailed look on GST and TRS.