Tax-return sector 'needs technology to take it to the future'

Singapore

SERIAL entrepreneur Asad Jumabhoy, who has built two global tax-return companies, believes that the time is ripe for the industry to be disrupted with modern technology.

The businessman behind UTU Global and Global Refund (now since acquired and renamed Global Blue) believes that the tax-free shopping industry is being held back by legacy processes and a reliance on paper-based operations, and needs to innovate and be taken into the future using the right technology.