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mscoop1085
Joined: 12 Feb 2009
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 Posted: Mon Oct 22, 2012 4:57 pm Post subject: Shipping ring from USA to Korea |
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| I am wanting to get an engagement ring shipped from the States to Korea. Is there any way to avoid the huge customs tax on it? Could I have my parents put it in a goodie box with cereal and other foods and hide it in there? If it was sent to me by my parents as a "gift" on the customs declaration form, what would happen? I'm open to all suggestions but please keep it relevant to the question asked. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Mon Oct 22, 2012 6:48 pm Post subject: |
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| mscoop1085 wrote: |
| I am wanting to get an engagement ring shipped from the States to Korea. Is there any way to avoid the huge customs tax on it? Could I have my parents put it in a goodie box with cereal and other foods and hide it in there? If it was sent to me by my parents as a "gift" on the customs declaration form, what would happen? I'm open to all suggestions but please keep it relevant to the question asked. |
To legally import it you will pay the taxes.
To smuggle it in you risk losing it with no recourse if it is found by customs in an x-ray or physical check or just stolen along the route.
Lastly, as a smuggled item you can't get insurance for it so if it gets "lost" along the way it is just gone.
If it is a family heirloom, pick it up on your next trip home and bring it back as a personal possession. No declaration necessary.
If you are buying it new thentake a trip to Hong Kong and get one off of the golden mile (tax and duty free - often cheaper than in the states for comparable quality). The money you save on the ring will pay for your long weekend in HK. |
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singerdude
Joined: 18 Jul 2009
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| Posted: Mon Oct 22, 2012 10:06 pm Post subject: |
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| I paid customs for my wedding ring that was shipped here from HK. I believe I paid 20%. If you don't want to pay the full tax, you could undervalue it by 20-25%. That way you can still insure it and if it does get lost you would lose only 25% and not the whole thing. |
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