Tourvest - Launches world-first no-fuss VAT refund scheme
TOURISM INVESTMENT CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1996/008144/06)
Share code: TRT
ISIN: ZAE000012472
For further information call : Ian Meltzer
on +27 11 339 6044 or email: imeltzer@tourvest.co.za
TOURVEST LAUNCHES WORLD-FIRST NO-FUSS VAT REFUND SCHEME
Johannesburg, 9 May 2005 - Tourvest has announced the introduction of a unique
new product designed to stimulate the inbound tourism market by providing
foreign visitors to South Africa with a range of free services, including
instant no-fuss VAT refunds, discounts at participating suppliers and access to
a 24/7 multilingual concierge call centre.
Dubbed Traversa, the scheme has been approved by the South African Revenue
Services (SARS), and has been exclusively endorsed by the Tourism Business
Council of South Africa (TBCSA).
Traversa is based on a swipe card, which will be issued with an explanatory
brochure to international passengers on arrival at the airport. The Traversa
card, which will be administered by a major credit card technology company,
keeps an electronic record of all transactions at participating suppliers. Upon
departure, the tourist swipes the card at a Traversa machine at the airport and
submits it to the Vat Refund Administrator. The applicable VAT refund is
calculated and after the obligatory checks, is immediately transferred to his or
her credit card account, or issued on the spot as a cheque.
`This streamlining of the VAT refund process - no forms to fill in, no
waiting, no fuss - is obviously a major benefit to the tourist. But there are
also other advantages. Users will get a cash discount at the participating
stores and restaurants as well as round-the-clock call centre support. In
addition, they`ll know that a percentage of their purchases will be donated to
charities and grass-roots development trusts in South Africa,` explains
Tourvest`s Ian Meltzer.
`To the best of our knowledge there`s no programme like this anywhere else in
the world, and it will give South Africa a unique new tourism marketing tool
that will help the country to position itself ahead of rival destinations.`
The most recent statistics show that South Africa currently has some 1 950 000
inbound airport arrivals per year. The average spend per tourist is just under
R10 000, giving a total of R18.5 billion per year.
Further information on Traversa is available on website: www.traversa.co.za
Issued by du Plessis Associates on behalf of Tourism Investment Corporation.
dPA contact Helen McKane Tel : +27 11 728 4701,
Fax: +27 11 728 2547, Mobile: 082 330 2034 or e-mail: tourvest@dpapr.com
website : www.tourvest.co.za
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
