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mayorgc
Joined: 19 Oct 2008
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 Posted: Wed Mar 10, 2010 11:28 pm Post subject: bringing expensive items into Korea via ICN airport. |
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| If I carry with me an expensive item that I brought from abroad, an expensive bracelet for example, will customs at ICN try to ding me with any taxes or charges? |
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ChilgokBlackHole
Joined: 21 Nov 2009
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| Posted: Thu Mar 11, 2010 12:36 am Post subject: Re: bringing expensive items into Korea via ICN airport. |
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| mayorgc wrote: |
| If I carry with me an expensive item that I brought from abroad, an expensive bracelet for example, will customs at ICN try to ding me with any taxes or charges? |
Probably not, but it is always wise to bring receipts for things of that nature, not to prove that you own it, but to prove where you bought it. I keep a copy of the receipt for my laptop with my laptop for this reason (traveling between the US and Canada). |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Thu Mar 11, 2010 4:07 am Post subject: Re: bringing expensive items into Korea via ICN airport. |
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| mayorgc wrote: |
| If I carry with me an expensive item that I brought from abroad, an expensive bracelet for example, will customs at ICN try to ding me with any taxes or charges? |
As a foreigner they won't even blink at something like that.
You are not bringing it in for re-sale. You will take it with you when you leave.
It is not taxable.
no different than your wedding ring, laptop, camera, etc. |
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warren pease
Joined: 12 May 2008
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| Posted: Thu Mar 11, 2010 7:25 pm Post subject: Re: bringing expensive items into Korea via ICN airport. |
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| ttompatz wrote: |
| mayorgc wrote: |
| If I carry with me an expensive item that I brought from abroad, an expensive bracelet for example, will customs at ICN try to ding me with any taxes or charges? |
As a foreigner they won't even blink at something like that.
You are not bringing it in for re-sale. You will take it with you when you leave.
It is not taxable.
no different than your wedding ring, laptop, camera, etc. |
exactly. If you are worried at all, just wear it through security. |
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mayorgc
Joined: 19 Oct 2008
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| Posted: Thu Mar 11, 2010 7:42 pm Post subject: |
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Here's my hypothetical situation.
Let's say I bought an expensive gift for a female. I bring it in my luggage and I travel to Korea and depart in ICN. At customs, will the officer have any grounds to tax me? with or without the receipt, is it possible to pull out legislation that says that gifts over X amount of dollars must be taxed?
If I wear it, will all of this be null and void? (even though it's obviously a female gift) |
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ChilgokBlackHole
Joined: 21 Nov 2009
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| Posted: Thu Mar 11, 2010 7:44 pm Post subject: |
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| mayorgc wrote: |
| Let's say I bought an expensive gift for a female. I bring it in my luggage and I travel to Korea and depart in ICN. At customs, will the officer have any grounds to tax me? with or without the receipt, is it possible to pull out legislation that says that gifts over X amount of dollars must be taxed? |
Can they? Yes. Will they? I'd bet real money that the answer is no. |
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Italy37612
Joined: 25 Jan 2010
Location: Somewhere
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| Posted: Thu Mar 11, 2010 8:28 pm Post subject: |
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| Ive brought countless expensive items back with me from travels abroad. Jewelry (yes, some were gifts for the GF) and electronics. The customs people never even looked at me. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Thu Mar 11, 2010 11:58 pm Post subject: |
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As a foreigner you ARE entitled to bring with you on your person or in your luggage items of a personal nature free and clear of any duty or taxes WITH THE PROVISO that you WILL take them with you when you leave.
THE EXCEPTION (legally) would be an item that you are "importing" with the intent of LEAVING IT IN KOREA when you depart.
Said item would "legally" be taxable.
In practical terms however, "Nothing to declare"and if you are asked, it is for your G/F back in your home country.
If you are Korean or on an F5 visa then the rules are different. |
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conbon78
Joined: 05 Jun 2008
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| Posted: Fri Mar 12, 2010 12:03 am Post subject: customs |
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| I think its funny that you even think Korean immigration will look at you. I travel a lot and I've never once been stopped, asked a question, or even looked at. I just walk right on by. Its nothing like customs in English speaking countries. |
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ChilgokBlackHole
Joined: 21 Nov 2009
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| Posted: Fri Mar 12, 2010 1:35 am Post subject: Re: customs |
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| conbon78 wrote: |
| I think its funny that you even think Korean immigration will look at you. I travel a lot and I've never once been stopped, asked a question, or even looked at. I just walk right on by. Its nothing like customs in English speaking countries. |
If you think *that's* funny, I'd love to see your face when you finally and eventually get the *one guy* who took a seminar on tax law or whatever, or had a bad day, and just feels like going 20 rounds with you. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Fri Mar 12, 2010 1:56 am Post subject: Re: customs |
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| ChilgokBlackHole wrote: |
| If you think *that's* funny, I'd love to see your face when you finally and eventually get the *one guy* who took a seminar on tax law or whatever, or had a bad day, and just feels like going 20 rounds with you. |
ROTFLMAO...... not gonna happen in Asia.... That only happens when you return to your home country... (read USA or maybe the UK).
Even Canuks get a $10,000 exemption if they have been out of the country for a full calendar year or more...
As a foreigner in Asia you are just a transient and are NOT taxable for duty except perhaps on excess liquors that WILL be consumed in the country.
EVERYTHING else in your possession is "in transit" between where you are coming from and where your home country is.
The exception would be Korean nationals or F5 residents returning to Korea and even F5s usually enjoy this travel perk.
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FMPJ
Joined: 03 Jun 2008
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| Posted: Fri Mar 12, 2010 7:55 am Post subject: Re: customs |
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| ttompatz wrote: |
| ChilgokBlackHole wrote: |
| If you think *that's* funny, I'd love to see your face when you finally and eventually get the *one guy* who took a seminar on tax law or whatever, or had a bad day, and just feels like going 20 rounds with you. |
ROTFLMAO...... not gonna happen in Asia.... That only happens when you return to your home country... (read USA or maybe the UK).
Even Canuks get a $10,000 exemption if they have been out of the country for a full calendar year or more...
As a foreigner in Asia you are just a transient and are NOT taxable for duty except perhaps on excess liquors that WILL be consumed in the country.
EVERYTHING else in your possession is "in transit" between where you are coming from and where your home country is.
The exception would be Korean nationals or F5 residents returning to Korea and even F5s usually enjoy this travel perk.
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I'm no expert, but i was in front of a guy last year who was bringing in a rolex, and he got stopped because the box (with receipt in it) was in his suitcase--the watch was on his wrist.
I dont know what happend though, I kept on moving. |
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crossmr
Joined: 22 Nov 2008
Location: Hwayangdong, Seoul
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| Posted: Fri Mar 12, 2010 8:36 am Post subject: |
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| Quote: |
| Even Canuks get a $10,000 exemption if they have been out of the country for a full calendar year or more... |
Er we get a 100% exemption on anything we own for more than 6 months before going back. Just keep the receipt in case you're asked on anything expensive.
http://www.traveldocs.com/ca/customs.htm |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Fri Mar 12, 2010 7:07 pm Post subject: |
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| crossmr wrote: |
| Quote: |
| Even Canuks get a $10,000 exemption if they have been out of the country for a full calendar year or more... |
Er we get a 100% exemption on anything we own for more than 6 months before going back. Just keep the receipt in case you're asked on anything expensive.
http://www.traveldocs.com/ca/customs.htm |
nope.... you get a $10,000 exemption with some restrictions + you get your $750 exemption without restriction.
http://www.cbsa-asfc.gc.ca/publications/pub/bsf5087-eng.html
Value limitation ($10,000)
Any single personal or household item (including an automobile) that you acquired after March 31, 1977, that is worth more than CAN$10,000 on the date you import it is subject to applicable duty and taxes on the amount that is over CAN$10,000.
Additional personal exemptions
When you return to resume residence in Canada, you are entitled to claim a duty- and tax-free personal exemption of a maximum value of CAN$750 for goods you acquired abroad or while in transit. You do not have to own, possess or use these goods before you return to Canada to resume residence.
I'd go with the government website (Canada border services agency) over some travel website. |
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victorology
Joined: 10 Sep 2007
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| Posted: Fri Mar 12, 2010 7:45 pm Post subject: Re: bringing expensive items into Korea via ICN airport. |
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| ChilgokBlackHole wrote: |
| mayorgc wrote: |
| If I carry with me an expensive item that I brought from abroad, an expensive bracelet for example, will customs at ICN try to ding me with any taxes or charges? |
Probably not, but it is always wise to bring receipts for things of that nature, not to prove that you own it, but to prove where you bought it. I keep a copy of the receipt for my laptop with my laptop for this reason (traveling between the US and Canada). |
You should actually do the exact opposite.
Let's say you buy an alligator handbag (hypothetically) for $20,000 on a trip to Hong Kong and bring it back to Korea. The amount you spent is over the customs allowance and you are liable to pay tax on it.
When you buy something (over the customs allowance) from abroad, you should take off all of the tags and make sure it's not in its original packaging. If you get stopped by a customs agent and get searched and they see a product with all of the tags on it, they will know it's new and charge you on it.
Fact is, people travel with expensive items all the time and don't carry their original receipt especially if it's used. I have a JLC watch that I wear all the time. I'm not going to carry its original receipt 3 years after purchase to prove where I purchased it. |
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