Luxury trade association Walpole is calling for the reinstatement of tax-free shopping for tourists which it claims could result in direct retail sales of at least $1.5 billion (£1.2 billion) annually and attract an additional 600,000 visitors to Britain.
The group—which has around 250 members including famous brands, retailers and hotels like Burberry, Claridge’s, Harrods, The Macallan, and Wedgwood—has commissioned a report which indicates that the U.K, has lost vital revenue since tax-free shopping was abandoned on December 31, 2020.
The government decision to withdraw the VAT Retail Export Scheme has made Britain the only European country not to offer tax-free shopping to non-EU
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