Stiff fine, hefty penalty for Rolex smuggling
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  1. #1
    Member Stargazer1's Avatar
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    Stiff fine, hefty penalty for Rolex smuggling

    From The Province Newspaper: Woman given stiff fine, hefty penalty for Rolex smuggling

    "Officials seized the watches at the time and Zhao has since appeared in Richmond Provincial Court on Aug. 23, where she was fined $5,000 for possessing the five unlawfully imported watches and is now required to pay $15,000 for their release."

    This actually isn't the only case of Rolex smuggling recently here. A Vancouver man was caught trying to smuggle a $80,000 Rolex from Korea:

    A Vancouver man faces nearly $40,000 in fines after attempting to smuggle an $80,000 Rolex into Canada when returning from Korea.

    I suppose all airports catch their fair share of smugglers, but I thought the articles were interesting because they also list how much regular duties and taxes we Canadians would have to pay on legally declared watches. Our duty free exemption after a trip of 7 days or more is only $800 per person.

    Do other countries charge their citizens high duties on watches?

  2. #2
    Member CADstraps's Avatar
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    Re: Stiff fine, hefty penalty for Rolex smuggling

    I've only ever once bought an expensive watch overseas. I FedEx'd the boxes and papers to myself, and wore the watch home.

  3. #3
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    Re: Stiff fine, hefty penalty for Rolex smuggling

    I prefer to stay on the thin, legal line.
    Import duty here is 5 % on watches, I believe. I have ever imported brands that are not sold here, like Laco, HMT and the odd Vintage piece.
    The rest is much cheaper here than in the countries I usually visit.

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  5. #4
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    Re: Stiff fine, hefty penalty for Rolex smuggling

    Duty-free exemption in the UK is £390. Thereafter Import VAT at 20% is payable.
    Last edited by RickS72; August 30th, 2012 at 01:19.

  6. #5
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    Re: Stiff fine, hefty penalty for Rolex smuggling

    why would you risk it? how much could you possibly save? now she's in the whole 15k

  7. #6
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    Re: Stiff fine, hefty penalty for Rolex smuggling

    Thats nothing, these numbskulls had to pay $75k in fines. And the horse won't last as long as a fine swiss watch

    B.C. duo fined $71,634 for horsing around at border crossing

  8. #7
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    Re: Stiff fine, hefty penalty for Rolex smuggling

    I understand that the Canadian import taxes are quite high, but still it's not very smart

  9. #8
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    Re: Stiff fine, hefty penalty for Rolex smuggling

    Quote Originally Posted by RickS72 View Post
    Duty-free exemption in the UK is £390. Thereafter Import VAT at 20% is payable.
    Not sure of your £390 source , but HMRC would tend to completely disagree with that statement:

    HM Revenue & Customs

    2.2 Do I have to pay import duties and/or import VAT on goods sent to me?

    Most goods arriving in the UK from outside the EU are liable to any or all of the following taxes:

    • customs duty
    • excise duty
    • import VAT

    and must be paid whether:

    • you purchase the goods or receive them as a gift
    • the goods are new or used (including antiques)
    • the goods are for your private use or for re-sale

    2.3 What are the limits for customs duty and import VAT?


    • Commercial consignments i.e goods you have purchased, of £15 or less are free from customs duty and import VAT.
      Note: This does not include alcohol, tobacco products, perfume or toilet waters; these items are excluded from the relief of duty and VAT at import.
      In addition, commercial consignments sent to the UK from the Channel Islands do not benefit from any relief of import VAT.
    • If you are sent a gift with a value of £40 or less, which complies with the rules shown in paragraph 2.4, it will be free from customs duty and import VAT. Gifts of alcohol, tobacco, perfumes and toilet waters are subject to the limits shown in paragraph 2.5, while gifts of perfumes and toilet waters are subject to the limits in paragraph 2.6.
    • Customs duty becomes payable if the value of the goods is over £135 but duty is waived if the amount of duty calculated is less than £9.

    In summary:
    Goods Value* Customs Charges applicable
    £0.01 to £15
    • No customs duty
    • No Import VAT**
    £15.01 to £135
    • No customs duty
    • Import VAT due
    £135.01 and greater
    • Customs duty due, but waived if the amount calculated due is less than £9
    • Import VAT due

  10. #9
    Member downtempo76's Avatar
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    Re: Stiff fine, hefty penalty for Rolex smuggling

    A traveller can buy a 80K Rolex but tries not to pay taxes on it? It's nice to see rich people getting caught.
    Have a great day!
    Simon

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    Re: Stiff fine, hefty penalty for Rolex smuggling

    Canadian AD's love seeing stories like this.
    Just getting started.

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