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Right before you board your flight back home, you might be tempted to step into the vast array of stores at the airport to pick up a gift or souvenir to remember your trip by. There, you might come across duty-free stores. These stores offer luxury products at a lower price thanks to the elimination of various taxes. Let’s understand this concept further.
'Duty' is the fee you pay to transport a product across international borders, and duty-free shopping refers to buying these items without paying import taxes.Â
For example, if you want to purchase premium wine from France, you can easily buy it duty-free while at the airport. Here, you won’t have to pay any local or import tax on your purchase as its consumption would be outside the country.
When you purchase anything 'duty-free,' you avoid paying taxes on it in the country where you made the transaction.Â
Shopping at entry and exit points of countries has its perks. Since you are either entering or departing from one country and moving to the next, the products you purchase at the airport in the origin country are sold duty-free. These products can be consumed only in the destination country.
You will need to provide a valid international boarding pass and ID to confirm that you are indeed exiting the nation where the transaction was made.
Due to the removal of duties and taxes on products sold at international airports, high-end luxury brands like Prada, Givenchy, Jack Daniels, Cîroc, Dolce & Gabbana, etc., sell their products at comparatively lower prices than at retail outlets within the country.
Yes, duty-free shopping is cheaper than retail prices. This is due to the elimination of import taxes, value-added tax, local tax, etc. Since international airports sell world-class luxury brands, you can buy these high-end products at a lower rate if you shop duty-free.
Below, we’ve listed some reasons why shopping duty-free at international airports is cheaper:
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