Save VAT

As a professional shopper in Madrid, I would like to advise visitors that the Value Added Tax (VAT) in Spain works differently from other countries, and it can be a great opportunity for shopping.

The VAT in Spain is known as IVA (Impuesto sobre el Valor Añadido) and it is included in the price of most goods and services. The current standard rate is 21%, but there are also reduced rates of 10% and 4% for certain items such as food, books, and medicines.

To be eligible for a VAT refund, you must make a minimum purchase of 90.15 euros (including VAT) at a single store on the same day. You will need to ask the store for a tax-free form (cheque/ticket) and show your passport or ID to prove that you are a non-EU resident.

When leaving the EU, you must get your tax-free forms stamped at the customs office in the airport or port. You will need to present the goods, the tax-free forms, and your passport or ID. After the customs stamp, you can choose to receive the refund in cash or on your credit card.

It is important to note that not all stores offer tax-free shopping, so look for the tax-free shopping logo or ask the store staff before making a purchase. Also, keep in mind that the VAT refund process can be time-consuming, so plan accordingly and arrive at the airport with enough time before your flight.

In summary, shopping in Madrid can be a great opportunity to take advantage of the VAT refund for non-EU residents. Make sure to ask for a tax-free form and check if the store participates in the tax-free shopping scheme. With a little bit of planning, you can enjoy a great shopping experience and save money on your purchases.

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