Through innovation, Holatrade is increasing international cooperation in a way that is more suitable for the development of global trade, providing high-quality online tax refund services in a wider area, and injecting more positive, stable and constructive forces into the world!

The world today is experiencing an unprecedented COVID-19 pandemic. The world economic recovery is unstable and unbalanced, regional conflicts are frequent, and the process of human development has been severely impacted. The United Nations released a report on June 8 that the world is facing the most serious cost of living crisis since the 21st century due to factors such as the Russian-Ukrainian conflict. It is estimated that around 1.6 billion people globally are affected by this crisis, of which around 1.2 billion people are affected by all three dimensions of the crisis – food, energy and finance. 

Globally, the cost of living is on the rise, and the world unemployment rate is also rising. According to data from the U.S. Department of Labor, in April 2020, due to the impact of the epidemic, the U.S. unemployment rate was as high as 14.7%. As a key employment group, the youth unemployment rate in the EU and the euro area also fell to 13.9% in April this year.

The picture shows the U.S. unemployment rate (May 2019-May 2022) Source: U.S. Department of Labor 

To help companies cope with the risks and challenges brought by the international environment and the domestic epidemic, since this year, governments around the world have launched electronic tax refund procedures in order to stimulate economic growth and reduce offline contact, providing online tax refund services for overseas tourists. This move, while relieving the financial pressure of enterprises, stabilizes production and expands exports, and promotes the stable development of global trade. 

Faced with the current global cross-border trade dilemma, Singapore Holatrade digital marketing service company uses innovative…