Full article on forbes.com
I was awestruck last year when I visited Milan’s Galleria Vittorio Emanuele II, the most famous and perhaps the most beautiful shopping mall in the world. Few can resist gawping upon entering this masterpiece of neoclassical architecture, with its sweeping mosaic tiles, palazzo-style facades and huge iron and glass dome. An even bigger shock awaits ordinary folk who glance at the prices in the posh fashion outlets lining its streets. But not everyone is left aghast. For some tourists the Galleria Vittorio is a place to spend, not gaze. And for non-Europeans, in particular, the splurging comes with the expectation of a 22% VAT refund at the airport. Yet few tourists receive their dues. By the time retailers and middlemen have had their fun, these shoppers are lucky to get 14% back. And it’s a problem that affects more than just super-rich visitors to Milan...
