I always thank and smile when receiving presents even if I don’t like them. But I feel really awkward if I’m asked if I like it when I don’t. I often try to evade the question but some people won’t accept this. If really pushed I do say that it’s not my taste. Apparently this is rude. Whereas I think it’s rude for a giver to insist on being told by the recipient they like it when they don’t.
When I give presents I always include a receipt so they can be returned.