Tourists in Singapore to receive greater GST refund value in the form of Downtown Shopping Vouchers

Tourists claiming their Goods and Services Tax (GST) refund in Singapore will have, until 30 September 2006, the option of redeeming the amount in the form of shopping vouchers under a pilot programme launched by Global Refund, a leading provider of financial services, and the Singapore Tourism Board (STB).

Under the Downtown Shopping Voucher Programme, tourists can redeem their shopping vouchers at 39 participating stores along Orchard Road, to offset further purchases made at these retailers. As an added bonus, the shopping vouchers will allow tourists to claim an additional 10% in their GST refund amount.

Mr Rodney Teo, Managing Director of Global Refund, said, “The introduction of this scheme is to encourage tourist shoppers to spend more in Singapore. With the Downtown Shopping Vouchers, tourists can use them like cash to shop in Orchard Road. Once they do, participating merchants can look forward to increased sales through improved tourist traffic as the Downtown Shopping Voucher option encourages new or repeat purchases.”

The pilot programme is timed to coincide with the ongoing Great Singapore Sale, as well as the upcoming International Monetary Fund (IMF) and World Bank meeting in September where 16,000 international delegates and visitors are expected to arrive in Singapore.

Dr Chan Tat Hon, Assistant Chief Executive (Leisure) at the Singapore Tourism Board (STB), said, “The introduction of the Downtown Shopping Voucher Programme is in line with the STB's continual efforts to offer more value-added initiatives that will enhance our visitors’ experience. With the Downtown Shopping Voucher Programme, tourists will be rewarded with more value when they shop more. While tourists can make the best of the bargains during the Great Singapore Sale, the incoming delegates who are arriving for the IMF and World Bank meeting will also be able to enjoy the benefits of this pilot initiative.”

The Downtown Shopping Voucher Programme is an extension of Global Refund’s tax-refund services where visitors can claim their GST Refund in the form of Airport Shopping Vouchers, cash, bank cheque or by direct credit to their credit card at the airport. Alternatively, visitors may also claim their refund solely in the form of instant cash at four locations downtown.

Rodney added, “Given the success of our Airport Shopping Voucher scheme where one in four tax refund claims made at the airport are in the form of shopping vouchers, we are confident that the initial introduction of this programme downtown will generate much positive response among the tourists. If successful, we plan to make this a permanent scheme and may even roll it out to other parts of the island.”

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