|
Korean Job Discussion Forums
"The Internet's Meeting Place for ESL/EFL Teachers from Around the World!"
|
| View previous topic :: View next topic |
| Author |
Message |
expat2001
Joined: 28 Jan 2006
|
 Posted: Sat Dec 20, 2008 4:09 am Post subject: sending to korea |
 |
|
My mom wants to send me a watch ; from canada , as a x mas present.
However , one of my friends told me , that korea wont accept watches or jewellry from other countries.
Does anyone know if this is true. |
|
| Back to top |
|
 |
expat2001
Joined: 28 Jan 2006
|
| Posted: Sun Dec 21, 2008 6:55 am Post subject: |
|
|
| bump |
|
| Back to top |
|
|
silentwhispers
Joined: 24 Mar 2008
Location: Louisville/Atlanta
|
| Posted: Mon Dec 22, 2008 9:25 pm Post subject: |
|
|
just lie about what's in it.
My ex's sister had to send glasses from Korea to the US and they said she couldn't. so she went someplace else and said it was a computer mouse. |
|
| Back to top |
|
|
superacidjax
Joined: 17 Oct 2006
Location: Seoul
|
| Posted: Sat May 02, 2009 12:23 am Post subject: |
|
|
| silentwhispers wrote: |
just lie about what's in it.
My ex's sister had to send glasses from Korea to the US and they said she couldn't. so she went someplace else and said it was a computer mouse. |
I know this is an old thread, but someone said that she couldn't send glasses to the US from Korea? Whomever told her that was just flat out wrong. There is no export restriction on eyeglasses.
There is also no import restriction on jewelry, although customs duties and the Value Added Tax (VAT) must be paid on items exceeding 150,000 won (value of item+shipping cost+insurance.) If the item exceeds 150K won, the customs duty will be 8% of the value of the item (including shipping and insurance cost.) The VAT is on top of the customs duty and is 10% of the value of the item+shipping cost+insurance+customs duty. On top of the customs+VAT there is also a 20% special excise tax on jewelry and a 30% education tax on top of every other tax I've mentioned in this paragraph!
So if the watch has a total declared value under 150,000 won, then there will be zero tax.
If the watch has a declared value of 160,000 won, then here's how the tax works:
160,000 won * 8% (Customs tax)=172,800 * 10% (VAT)=190,080 * 20% (excise tax)=228,096 * 30% (education tax)=296,524.80-160,000 (original value)=
136,524.80 won IN TAXES, payable before customs will release the shipment for delivery.
My advice: make sure the watch is declared to be worth less than 150K won.
Regarding exports..
The only items that can't be exported from Korea are items of high historical value (usually antiques over 40 years old, subject to approval from the government cultural office.) There are also some currency export restrictions. |
|
| Back to top |
|
|
Michael_75
Joined: 13 Oct 2008
|
| Posted: Sat May 02, 2009 12:35 am Post subject: |
|
|
| superacidjax wrote: |
| silentwhispers wrote: |
just lie about what's in it.
My ex's sister had to send glasses from Korea to the US and they said she couldn't. so she went someplace else and said it was a computer mouse. |
I know this is an old thread, but someone said that she couldn't send glasses to the US from Korea? Whomever told her that was just flat out wrong. There is no export restriction on eyeglasses.
There is also no import restriction on jewelry, although customs duties and the Value Added Tax (VAT) must be paid on items exceeding 150,000 won (value of item+shipping cost+insurance.) If the item exceeds 150K won, the customs duty will be 8% of the value of the item (including shipping and insurance cost.) The VAT is on top of the customs duty and is 10% of the value of the item+shipping cost+insurance+customs duty. On top of the customs+VAT there is also a 20% special excise tax on jewelry and a 30% education tax on top of every other tax I've mentioned in this paragraph!
So if the watch has a total declared value under 150,000 won, then there will be zero tax.
If the watch has a declared value of 160,000 won, then here's how the tax works:
160,000 won * 8% (Customs tax)=172,800 * 10% (VAT)=190,080 * 20% (excise tax)=228,096 * 30% (education tax)=296,524.80-160,000 (original value)=
136,524.80 won IN TAXES, payable before customs will release the shipment for delivery.
My advice: make sure the watch is declared to be worth less than 150K won.
Regarding exports..
The only items that can't be exported from Korea are items of high historical value (usually antiques over 40 years old, subject to approval from the government cultural office.) There are also some currency export restrictions. |
What happens if you declare it as a low-value gift (but not be specific about what it actually is)? I was under the impression that this was an excellent way to avoid customs charges. I have no idea whether it is actually true though. |
|
| Back to top |
|
|
|
|
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
