Blockchain-led VAT refund app in global debut

Blockchain-led VAT refund app in global debut

Blockchain-led VAT refund app in global debut The roll-out of the world’s first blockchain-powered value-added tax (VAT) refund for tourists via an app is estimated to increase foreign tourist spending by 10% in Thailand. The blockchain-based service shortens the VAT refund period to 1-3 days from about a month, said Finance Minister Uttama Savanayana.