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Linslus · 8 June 2011, 03:15 AM

I´ve heard that you get som kind of tax back if you buy a Rolex in Singapore.

How does it work? Do you just buy a watch in Singapore, get back to the airport, show them your recepit and they give you money back?

// Linus

Singslinger · 8 June 2011, 10:08 AM

The Goods & Services tax (GST) in Singapore is 7% which visitors are entitled to claim once they leave. When you buy from an AD, they will give you all the necessary paperwork to get the GST refund at the airport.

I'm not sure how it works for a grey market dealer but I'm guessing it would be the same.

watchenthusiast · 8 June 2011, 01:27 PM

great information to have, thanks singslinger

hunz · 8 June 2011, 01:39 PM

You get back roughly 5.5% after processing fees, give or take exchange rate also.

Refunds can either be cash (in SGD) or back onto your CC at GST refund point at airport.

They are quick and efficient

Boolean · 8 June 2011, 02:24 PM

Are the watches sold at a good price in singapore? Is it worthing getting there or do all AD charge about the same price?

vb2011 · 8 June 2011, 02:29 PM

I am from Singapore, and I was in Seattle last month where I checked out the price there.
It seems to me Rolex price is controlled and about the same everywhere (without tax).

You'll only get cheaper Rolex if the AD gives good discount.

Best deal right now is in the private seller pre-owned market, where you will usually get a few grands of markdown, and no tax.

hunz · 8 June 2011, 02:42 PM

Quote:

Originally Posted by Boolean

Are the watches sold at a good price in singapore? Is it worthing getting there or do all AD charge about the same price?

I got 15% off on my 14060M earlier this year at a major high-end AD. But I hear prices have since gone up in Singapore (in line with US, UK etc) and possibly only giving 10% off now. On Sub-C's at least no discounts given.

Rolex boutiques = zero discount.

sherwin · 8 June 2011, 02:47 PM

As long as you have the watch and box on you, with the properly filled out GST refund forms. all good.

My tip, send your box back home registered post, there is a post office in terminal 2.

toph · 8 June 2011, 02:51 PM

It is the same in any counrty if you are visiting. YOUR purchases are VAT/GST FREE in Australia it is 10% in UK it is 20% etc etc

hunz · 8 June 2011, 03:15 PM

Quote:

Originally Posted by toph

It is the same in any counrty if you are visiting. YOUR purchases are VAT/GST FREE in Australia it is 10% in UK it is 20% etc etc

Not always. Some countries don't have taxes eg. Dubai, HK

And do not count on getting the full tax back as you need to factor in processing fees. eg. Singapore GST is 7%, yet you only get back approx 5.5% back in the hand. UK VAT is 20% but expect to only get back approx 15%.

Stay informed per country specifics. ie. do your homework

Singslinger · 8 June 2011, 11:48 PM

Quote:

Originally Posted by watchenthusiast

great information to have, thanks singslinger

Glad to be of help. As someone else has pointed out, a lot depends on the model and the size of the discount that particular AD can give.

Happy hunting!

8 June 2011, 03:15 AM	#1
Linslus Member Join Date: May 2011 Location: Sweden Posts: 19	Buying a Rolex in Singapore I´ve heard that you get som kind of tax back if you buy a Rolex in Singapore. How does it work? Do you just buy a watch in Singapore, get back to the airport, show them your recepit and they give you money back? // Linus

8 June 2011, 02:47 PM	#8
sherwin "TRF" Member Join Date: Nov 2007 Location: Perth/Singapore Posts: 1,764	As long as you have the watch and box on you, with the properly filled out GST refund forms. all good. My tip, send your box back home registered post, there is a post office in terminal 2. __________________ Want to Buy:SS GMT black;116509 WG Daytona Metrorite

8 June 2011, 02:51 PM	#9
toph "TRF" Member Join Date: Apr 2008 Real Name: ChrisTOPHer Location: Sydney Watch: Rolex, Brellum, Posts: 12,601	It is the same in any counrty if you are visiting. YOUR purchases are VAT/GST FREE in Australia it is 10% in UK it is 20% etc etc __________________ "Where no counsel is the people fall, but in the multitude of counselors there is safety." Member No.# 11795

8 June 2011, 10:08 AM	#2
Singslinger "TRF" Member Join Date: Sep 2008 Location: singapore Posts: 6,425	The Goods & Services tax (GST) in Singapore is 7% which visitors are entitled to claim once they leave. When you buy from an AD, they will give you all the necessary paperwork to get the GST refund at the airport. I'm not sure how it works for a grey market dealer but I'm guessing it would be the same.

8 June 2011, 01:27 PM	#3
watchenthusiast Member Join Date: Jun 2010 Location: USA, Miami Posts: 20	great information to have, thanks singslinger

8 June 2011, 01:39 PM	#4
hunz Member Join Date: Dec 2006 Location: Oztralia Watch: Rolex, SINN Posts: 618	You get back roughly 5.5% after processing fees, give or take exchange rate also. Refunds can either be cash (in SGD) or back onto your CC at GST refund point at airport. They are quick and efficient

8 June 2011, 02:24 PM	#5
Boolean "TRF" Member Join Date: Dec 2010 Location: USA Posts: 17	Are the watches sold at a good price in singapore? Is it worthing getting there or do all AD charge about the same price?

8 June 2011, 02:29 PM	#6
vb2011 "TRF" Member Join Date: Jun 2011 Location: Singapore Watch: Rolex GMT II Posts: 53	I am from Singapore, and I was in Seattle last month where I checked out the price there. It seems to me Rolex price is controlled and about the same everywhere (without tax). You'll only get cheaper Rolex if the AD gives good discount. Best deal right now is in the private seller pre-owned market, where you will usually get a few grands of markdown, and no tax.

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