Yu_Bum_suk
Joined: 25 Dec 2004
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 Posted: Tue Dec 12, 2006 4:06 pm Post subject: Shipping a diamond from the US to Korea - taxes / duties? |
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My friend (who doesn't have a Dave's account) would like to ship a diamond ring worth about $3,000-3,500 USD from the US to Korea. Would there be any taxes or duties on this? What would be the best way to do this? FedEx or another currior?
If there's anyone familiar with Korean Customs rules and regulations who could answer it would be much appreciated. |
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cubanlord
Joined: 08 Jul 2005
Location: In Japan!
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| Posted: Tue Dec 12, 2006 4:12 pm Post subject: Re: Shipping a diamond from the US to Korea - taxes / duties |
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| Yu_Bum_suk wrote: |
My friend (who doesn't have a Dave's account) would like to ship a diamond ring worth about $3,000-3,500 USD from the US to Korea. Would there be any taxes or duties on this? What would be the best way to do this? FedEx or another currior?
If there's anyone familiar with Korean Customs rules and regulations who could answer it would be much appreciated. |
Hi there,
Recently, I had apporximately $1,800USD worth of PC equipment shipped to me here in Korea. To avoid the monster tax, do the following:
Get the diamond ring to someone you trust. Have them safely and very carefully secure it in an additional box. Make sure that box is a plain old cardboard box. Then, ship it via UPS or FedEx insured. Make sure when you declare it you say it is your mother's or something indicating it is NOT new.
Then...POOF! No more taxes. Just the shipping cost.
Hope this helps. |
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