Method of refunding value added tax

Details Method of refunding value added tax Method of refunding value added tax

1997-11-21

1999-05-11

MacDonald, Allen R.

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Including point of sale terminal or electronic cash register

705 17, 705 16, 705 31, G06F19/00

Patent

active

059038764

ABSTRACT:
A value added tax card to be used in expediting refund of value added tax on purchases. The method of refunding includes establishing computerized personal accounts and associated value added tax cards. Each personal account and value added tax card has associated therewith the purchaser's name, address, country of residence and passport number. A photograph of the purchaser appears on the value added tax card. The card is presented at the time of purchase to the seller who then sends the credit to the computerized personal account equal to the charged value added tax.

REFERENCES:
Barnes, Marcia "Get the VAT Back, Jack" Forbes. v135, p219(2), May 20,1985.
"Cash VAT Refunds Take Off with EFTS" Unix News p. 61, Nov. 1991.
Munn, Felicity, "Ducking value-added taxes is worth it in Europe" Windsor Star, Final ED, P D6, Apr. 23, 1994.
"VAT Refunds: How to get them" Travel Agent Europe Supplement p 1, Aug. 26, 1996.

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