Alipay Partner with Global Tax Free to Launch the First Paperless Mobile Tax Refund Function in South Korea
August 20, 2018 at 04:24 am
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Alipay announced that it has partnered with Global Tax Free (GTF) to launch the first paperless mobile tax refund function in South Korea. Alipay has consistently been at the forefront of innovation that supports mobile tax refund solutions globally. In early 2017, Alipay initiated a real-time tax refund service in Europe which enabled users to instantly receive tax rebates in their Alipay accounts after scanning their Alipay QR code at airport tax counters. The newly introduced tax refund service in South Korea further simplifies the process by enabling Chinese tourists to apply for and claim tax rebates on their mobile phone app, skipping in-city and airport tax refund counters altogether. After scanning their passports at self-service kiosks prior to leaving South Korea, Chinese tourists can process tax rebates and immediately receive RMB refunds by using the Alipay mobile app to scan tax refund receipts within 90 days of purchasing.
Global Tax Free Co., Ltd., formerly Yuanta 1 Special Purpose Acquisition Co., Ltd., is a Korea-based company principally engaged in the tax refund agency business. The Company provides services to refund value added tax (VAT) on Korean consumption to foreign consumers. The Company is also involved in the refund agency business of other refund companies.