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Method of refunding value added tax

Patent 5903876 Issued on May 11, 1999. Estimated Expiration Date: Icon_subject November 21, 2017. Estimated Expiration Date is calculated based on simple USPTO term provisions. It does not account for terminal disclaimers, term adjustments, failure to pay maintenance fees, or other factors which might affect the term of a patent.

Inventor

Assignee

Application

No. 976106 filed on 11/21/1997

US Classes:

705/19, Tax processing705/16, Including point of sale terminal or electronic cash register705/17, Having interface for record bearing medium or carrier for electronic funds transfer or payment credit705/31Tax preparation or submission

Examiners

Primary: MacDonald, Allen R.
Assistant: Caudle, Penny

Attorney, Agent or Firm

International Class

G06F 19//00

Abstract

A value added tax card to be used in expediting refund of value added tax on purchases. The method of refunding includes establishing computerized personal accounts and associated value added tax cards. Each personal account and value added tax card has associated therewith the purchaser's name, address, country of residence and passport number. A photograph of the purchaser appears on the value added tax card. The card is presented at the time of purchase to the seller who then sends the credit to the computerized personal account equal to the charged value added tax.

Other References

  • Barnes, Marcia "Get the VAT Back, Jack" Forbes. v135, p219(2), May 20,1985
  • "Cash VAT Refunds Take Off with EFTS" Unix News p. 61, Nov. 1991
  • Munn, Felicity, "Ducking value-added taxes is worth it in Europe" Windsor Star, Final ED, P D6, Apr. 23, 1994
  • "VAT Refunds: How to get them" Travel Agent Europe Supplement p 1, Aug. 26, 199
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