Source · Select Committees · Culture, Media and Sport Committee
Recommendation 7
7
Accepted
Paragraph: 39
The Government should publish an assessment of the direct and indirect impact that withdrawing from...
Recommendation
The Government should publish an assessment of the direct and indirect impact that withdrawing from the VAT Retail Export Scheme will have had on the inbound tourism sector.
Government Response Summary
The government refers to the independent Office for Budget Responsibility's assessment of the withdrawal of the VAT Retail Export Scheme published in November 2020.
Paragraph Reference:
39
Government Response
Accepted
HM Government
Accepted
The independent Office for Budget Responsibility published their assessment of the withdrawal of the previous VAT-free shopping schemes in November 2020. This showed that the withdrawal of VAT-free shopping would raise a significant amount of revenue and have a limited behavioural effect on decisions to visit, or spend, in the UK.