BV in Italy

[cutiekiara]

Hello everyone, it's been awhile for me not actively join the BV chat with all of you since I'm on a purse ban.
But now, I'm no longer on purse ban, and I'm ready to get another BV again.. yayy...
I would like to ask your suggestion. My DH plan to go to Italy for bussiness trip, so I think I'm going to ask him to buy me BV bag when he stop by in Venice. I really want to get the large veneta bag, preferably nero or any other neutral color (I only have OP sloane and nero wallet as of now). Since nero is a classic color, and it's never goes on sale. Do you think it'll be cheaper if I buy it in Italy? Does anyone know how much is the large veneta there? In US where I live, it's $1850. Or should I wait for Saks FF? Thank so much for your suggestions...I know someone already post similar thread re. the price in Italy, but they didn't mention the price of large veneta...

[Syma]

The price of the large veneta in Italy is 1180 euros.

[cutiekiara]

^ Is that before or after tax? TIA

[Syma]

After tax, you can always claim the tax back, but I'm not sure of Italy's rate.

[lightblue84]

Originally Posted by Syma

Italy's rate.

20%

[Roxane]

Originally Posted by Syma

After tax, you can always claim the tax back, but I'm not sure of Italy's rate.

I was in Venice just last month and bought from BV. The tax company they use (Premier) suck big time. After you get your customs stamp, you are supposed to be able to collect your tax refund (minus a commission by Premier) in cash from the tax refund desk at the airport. However, Premier works such that you can only get back your tax refund in currency other than Euros, and the rate for the USD was 1 Euro = 1.3 USD, whereas the actual bank rate is 1 Euro = 1.5 USD. So, you already lose out because of the unfair exchange. On top of that, the cash desk at the airport deducts their own commission from the tax refund amount, so that you end up with less than 10% tax refund. So for EUR1180 (a small amount), you would be lucky to get 5-6% in refund. I spent over EUR4K and I estimated my refund was maybe 8-9% only.

The tax refund company that most other stores use is Global, and you can get your tax back (minus commission) in Euros, and there are no additional charges, so for large amounts, you can get back almost 14%.

Theoretically, you can opt for a refund to your credit card by mailing the tax refund forms, etc., eliminating the horrible exchange rate and additional commission charged at the cash desk. However, there is no guarantee that you would get your tax refund back that way. I am still waiting for a tax refund from a store in the UK since June! My husband's philosophy is that some money is hand is better than no money at all.

[cutiekiara]

So, If I claim back the tax, the total net of the large veneta is 944 euro? which translate to $1354? wow that's much cheaper compare to the US, which is $1880. Anyone knows how to claim the tax in Italy? Thanks...

[Roxane]

Originally Posted by cutiekiara

So, If I claim back the tax, the total net of the large veneta is 944 euro? which translate to $1354? wow that's much cheaper compare to the US, which is $1880. Anyone knows how to claim the tax in Italy? Thanks...

No, as I explained in my earlier post, it is more likely that you would get only 5-6% in refund, 10% if you are lucky. To get your tax refund, you ask the shop for tax refund, and they would fill in a form with the details of your purchase, your passport number, address, etc. Then you have to go to the customs desk (usually after immigration) at the airport from which you depart the EU (so if your DH is going on to other countries in the EU, he would wait until his final departure from the EU). You might have to show your item (depends on how strict the customs people are – Frankfurt suck), and then you would obtain a customs stamp on the tax refund form. You would either mail the form back to the tax refund company, or usually, just claim your tax refund in cash at the tax refund cash desk after customs.

At certain airports (e.g. Milan, London Heathrow), there are also customs desks before immigration, but you would need to have checked-in and show your boarding pass. You are still expected to show your item to customs.

Also, the Euro1180 for the large veneta includes tax, which means it is at 120%. So, to find the price without tax, you divide 1180 by 1.2, giving 983. However, all tax refund companies charge a commission, which consists of a standard per transaction charge, plus a percentage. The smaller the amount you spend, the less tax refund you get after the charges. So your veneta would cost more than Euro1000.

[cutiekiara]

Thanks so much roxanne, your information helps a lot..

[abi319]

I just did my tax refund from the Fiumicino Airport last month and got back 180Euros for a 1435Euro purchase. Hope this helps!

[Roxane]

^^^ That's great abi319! Was it for a BV purchase, and was the tax refund company Premier (orange words against dark background)? Fiumicino is in Rome. I did my tax refund at Milan Malpensa, and the Premier desk there really sucked. I think it depends on what type of arrangement the tax refund company have at the different airports.

[abi319]

roxane, Ive always dealt with GLOBAL REFUND...wherever i am. I've done refunds in Paris, Frankfurt and Munich and it has always been with the same tax refund company (i didnt realize there were different companies, i always just see one Tax refund booth in the airports so I always thought there was just one). Sadly the refund wasnt for a BV purchase though...hopefully it will be BV for the next one!

[Roxane]

^^^ abi319, Global is the company that most stores use, but for some reason, other stores such as BV and Balenciaga in Italy use Premier, which was such a pain to deal with. It is not up to us, as consumers, to choose which refund company to use, but the stores themselves, so we have no choice. With Global, the refund amount is always quite reasonable, but as my earlier posts indicated, Premier had so many commissions and charges that the refund amount was very much reduced.

At Milan Malpensa, there are 2 tax refund desks: Global and Premier/some other company that I do not remember the name of. Global will not process Premier refunds and vice versa. At London Heathrow, for example, there are a couple of refund companies (possibly Premier) from which you cannot get cash refunds at tax refund desk, but they will mail the refund form on your behalf. I think perhaps you just haven't shopped at stores that use companies other than Global.

[abi319]

WOW! Thanks for the info Roxane! I just love tPF, i've learned loads of stuff here!I do remember seeing Premier signs somewhere but never gave them much thought. Now i know what to expect when I do buy BV or Bal from Europe!!!!! Thanks again!