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Korean firm Global Tax Free launches operations in Singapore

Korean firm Global Tax Free launches operations in Singapore

SINGAPORE: Korean tax refund services firm Global Tax Free has officially launched its operations in Singapore with around 80 partners in tow. The Korean tax refund services firm has been appointed as a central refund agent by the Inland Revenue Authority of Singapore.

Founded in South Korea in 2005, Global Tax Free operates tax refund desks at the country’s major airports in Seoul, Busan and Jeju Island. It has already expanded into China and Japan and is now looking at other parts of the Asia Pacific.With Singapore’s tourism earnings expected to hit S$30 billion by 2015, the potential for tax refund service is huge,” said Ms Vivienne Chong, the chief operating officer for its Singapore operations, on Friday (Dec 12).

Global Tax Free, which has been appointed as a central refund agent by the Inland Revenue Authority of Singapore (IRAS), says it operates a system that is fully digital and hence more convenient for visitors to claim tax refunds on purchases.For instance, its system contains an integrated credit card payment function along with passport scanning and web-based generation of tax refund tickets.Singapore-based merchants that have agreed to partner Global Tax Free include Aldo shoes, Sara Taseer Fine Jewellery and Casio. The firm also has a tie up with a medical centre so that foreign patients can claim GST rebates on medicine that they will take away with them.