El Palacio de Hierro joins TAXBACK
El Palacio de Hierro, one of the largest and most prestigious retailers in Mexico, has joined TAXBACK, a Prorsus Capital company, as an affiliate. This means that starting now, TAXBACK will be providing tax refunds to the thousands of foreign Palacio customers who visit Mexico on business and pleasure.
This agreement further positions TAXBACK as the leading provider of VAT (Value Added Tax) refunds in Mexico: the Palacio chain commands a significant share of the sales of large-ticket items such as jewelry, electronics and fashion, to foreign visitors in Mexico. El Palacio de Hierro will benefit from offering its international customers the increased value of a fast and easy refunds of the taxes paid when shopping in their stores. This will make Palacio a more attractive and competitive shopping destination for international travelers.
TAXBACK opens in Cancun
Earlier this year, TAXBACK initiated service in Terminal 2 and Terminal 3 of the Cancun International Airport. Since then, TAXBACK has successfully established itself in one of Mexico's premiere tourist markets, and steadily increased its transaction volume by providing VAT refunds at this key destination.
Upcoming new TAXBACK locations
TAXBACK is soon to open these new locations: Monterrey, Acapulco, Ixtapa, Merida and Cozumel.