Cabo San Lucas. Cancun. Puerto Vallarta. Cozumel. Acapulco. Do you really need another reason to visit Mexico? Well now there is one, and travelers who flock to the country’s popular destinations and have shopping high on their to-do lists will be very pleased, as will passengers aboard cruise ships that hit Mexican ports.
It’s a program called Moneyback that is similar to Europe’s VAT. International travelers to Mexico can receive an 8.9% rebate of the total amount they spend at more than 6,000 affiliated stores throughout the country.
With 50 offices in ports, shopping malls and airports, Moneyback provides travelers the fastest and easiest way to get their refunds, initiating the process for them while they are still in Mexico.
Here’s how it works. If you use a credit card, there is a minimum purchase of about $77 at one place of business before you are eligible for a refund, but there is no cap. Cash purchases don’t have a minimum, but max out to being refunded on a purchase of about $200.
To receive their refund, travelers need to ask the merchants for a VAT itemized invoice when making a purchase. Then they can submit that along with the refund form and travel documentation to a Moneyback office.
Refunds will be made to a user’s credit card within 45 days. A family or group traveling together can combine their purchases to get one refund on one credit card if so desired.
The program, which started several years ago and is rapidly gaining traction, is especially beneficial to those visiting Mexico on a cruise, and shopping in port cities including Ensenada, Cozumel, Mazatlan, Puerto Vallarta and Cabo San Lucas.
“Cruise travelers spend three times more money in personal shopping when traveling to Mexico than other visitors,” said Danielle van der Kwartel, General Director of Moneyback. “Moneyback wants to give back by offering them a tax refund in a simple and fast way.”
Sounds great, right? But there are a few caveats. Those traveling to Mexico by other than by air or ship are not eligible for the refunds, meaning if you walk or drive across the border to shop at places in Tijuana or Juarez, for example, you’re not eligible.
Moneyback’s tax refund service was created with Mexico’s Ministry of Finance to make the visitor tourism and shopping experience even better by promoting the best leisure and business shopping destinations across the country.
You can find a list of participating stores and more information at www.moneyback.mx and find travel info at www.visitmexico.com.
–Hillary Atkin
