Treasury to review VAT-free shopping ‘tourist tax’ ahead of Budget
The Treasury is reviewing the so-called ‘tourist tax’ on VAT-free shopping ahead of the spring Budget and could ditch the policy in a boost for retail.
Office for Budget Responsibility (OBR) staff are reportedly conducting an “examination of the costs and benefits” of Rishi Sunak’s 2020 move to end tax-free shopping schemes for tourists, according to The Sunday Times.
Then chancellor under Boris Johnson, Sunak ended the policy that allowed international travellers to the UK to reclaim the VAT they paid on luxury purchases.
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