Is Gucci Cheaper in Italy? Here’s What You Need To Know
- For items less than €1,700, you will get 11.6% – 13.2% VAT refund.
- For €1,700-€3,000, you will get 13.2% – 14.1% VAT refund.
- For €3,000-€5,000, you will get 14% VAT refund.
- For €5,000- €8,000, you will get 15% VAT refund.
- For above €8,000, you will get 15.5% VAT refund.
If you bought that GG Marmont small shoulder bag for €1,890, you going to receive a refund of roughly €245! In USD that is $267, or in GBP that is £205 – great news!
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However, there are some things you need to do before you can receive this refund.
The refund is only applicable to non-EU citizens, people over 16, and people who are visiting Italy for less than six months. So this refund is perfect you are off to Italy on holiday and looking to tread yourself on a new Gucci product at a lower price.
It is worth noting that since the United Kingdom has left the European Union, British citizens are now eligible for the tax refund.
When buying your new luxury bag or purse, you need to make sure you have your passport with you, otherwise, the sales assistants won’t be able to fill in the necessary paperwork. Then, when you reach the airport to head home, you need to remember to go to the customs office to have your receipt stamped, then you are done!
One important thing to remember is that you will still need to pay duty at the airport when you arrive to US or UK. Americans have a personal exemption of $800 (in most cases), after which you’ll be taxed a flat rate of 3%.
British citizens will enjoy a personal exemption of £390, after which 2.5% duty is imposed (this can vary slightly depending on the type of product that you buy). Even with the duties, you will save a LOT compared to buying the product from your home country, by virtue of both the exchange rates and the VAT refund.
