but still have 21% vat rebate, am i right?
after 5% 5700 + 21% vat = 4503 euro, around S$7371?
please correct me..
maths fail la.
VAT is the same concept as GST. if you want to "deduct" the 21%, you need to take 5,700 divide by 1.21 = 4,710.
in any case, the VAT refund company always takes a cut or percentage as service fee, so the actual refund varies from 12% of the retail price to 13+%. If it is 12% of the retail, that would work out to be 5,016 euros.
Check either global blue website or whichever firm they use to handle VAT to find out the rate.
