Vogue Business recently reported that many Americans this summer have visited Europe and done most of their luxury retail shopping abroad for European luxury goods and designer brand-name products. Since Europe has generally lower prices and a plethora of summer sales, there seem to be fewer reasons to buy high-fashion products in America.
Additionally, shoppers can benefit from the ability to claim value-added tax (VAT) back after shopping in France and Italy. This added value tax is equal to 20% of the item purchased. According to the European Commission, “You will receive an invoice for the goods. You must show the invoice, the refund form, the goods and any other necessary documents to the customs officers of the last EU country you leave.”
