Cancun's International Airport has officially launched the "Tax Back" program, located at terminals two and three.
The program allows travelers visiting Cancun to cash in taxes paid while shopping at stores such as Armani, Gucci Sunglasses, Tumy, Lacoste, Tommy Hilfiger, Coach, DKNY, United Colors of Benetton, Puma, Sergio Bustamante and Pineda Covalin.
Because Value Added Tax (VAT) can only be returned on products, shoppers need to simply ask for a receipt at the participating stores and bring the proof of purchase to the Tax Back service offices at the airport.
Purchases must be greater than roughly $90 and up to about $225 if paid in cash, or unlimited if you pay with a credit or debit card. You can also accumulate receipts from the same shop during your trip.
Tax reimbursement can be 50 percent in cash and 50 percent via bank transfer to your debit, services or credit card, (if the reimbursement is above $740). This can only be done via an electronic transfer and this amount will be deposited 40 days after the presentation of the Tax Reimbursement Form. If the purchase of goods exceeds the amount of $370, Tax Back service executives will ask you to show the goods at the airport.