“This is an added value for the meeting and incentive market that we have been working on for five years,” says Hannan Zanzuri, CEO, Tax Back Mexico. As of June 2008, individual or group clients who purchased goods in Mexico could complete a form and present it together with an invoice at the airport and get their Value-Added Tax (VAT) refunded. Half the money gets refunded immediately in cash, and the other half is credited to the purchaser’s credit card account.
Tax Back Mexico will make it as easy as possible for groups to go through the process, Zanzuri emphasized. “We will put enough personnel in your meeting hotel’s concierge area to help your attendees do their paperwork.” He noted that room gifts that planners buy for attendees are not included; however, planners have the option of giving attendees a coupon, which they can then use to purchase the gift, and in that case the attendees would be able to claim their VAT refund. The refund is available for invoices of $120 or more. Tax Back Mexico currently operates in Mexico City, Cancun, Los Cabos, Guadalajara, and Puerto Vallarta. By the end of 2009, it will have added Monterrey, Cozumel, Merida, Loreto, Acapulco, Ixtapa, and La Paz to the list.
“This is extremely important for Mexico,” Zanzuri says. “Now we can compete with shopping destinations worldwide.”