Gakken85 Posted May 15, 2013 Posted May 15, 2013 (edited) So, um.. I have a lot of stuff sitting in Rinkya's warehouse. I need to start moving it to my place! haha. What are the pro's and con's of declaring the proper value? Should I declare the going market value, the MSRP value, or a minimal value so customs won't do something weird? Any help is appreciated. Edited May 15, 2013 by Gakken85 Quote
jenius Posted May 15, 2013 Posted May 15, 2013 This doesn't seem like a question specific to Rinkya. This is a question specific to the customs of your country. If you live in the US I don't think there's any reason to declare anything other than the actual value since you won't be hit with a customs charge. Quote
jvmacross Posted May 15, 2013 Posted May 15, 2013 So, um.. I have a lot of stuff sitting in Rinkya's warehouse. I need to start moving it to my place! haha. What are the pro's and con's of declaring the proper value? Should I declare the going market value, the MSRP value, or a minimal value so customs won't do something weird? Any help is appreciated. The only time it would matter is if your state requests that you declare internet purchases.....and actually enforce this.....if for some reason they decide to audit you....a lower declared value on any shipment would work towards your advantage.....so say the actual value is 1000USD...but you change it to 100USD....the tax (penalty?) would be on 100 rather than 1000...of course an audit would also potentially dig deeper than the declared customs amount and then you would have some explainin' to do!!! It's a gamble, but I just go with actual value.....so far so good....if your state doesn't need you to declare web purchases...then you are fine...otherwise, it depends on how determined they are on cracking down on collecting taxes from web purchases.....yes...even foreign bought items...... Quote
DarrinG Posted May 15, 2013 Posted May 15, 2013 Talk about a mad rush for Yamato stuff - how about a last minute rush for anything you want from the internet! Why do they need to go an tax my internet stuff? If they need more funds they should just keep printing LOTS more money, that's going to work out great for the country... Quote
skullmilitia Posted May 15, 2013 Posted May 15, 2013 Talk about a mad rush for Yamato stuff - how about a last minute rush for anything you want from the internet! Why do they need to go an tax my internet stuff? If they need more funds they should just keep printing LOTS more money, that's going to work out great for the country... Because men with power don't want anything free left, and the internet was the last great free frontier. Just wait will you have to pay tax for regular peer to peer paypal transactions. eBay has been fighting this for 5 years, I know most don't like eBay, but support them if you want a free marketplace. and yeah if you live in the US, it doesn't matter what you declare, you don't pay duty or tax on imports. Quote
Gakken85 Posted May 15, 2013 Author Posted May 15, 2013 Thanks for the help guys. Never had this much shipped at once. Quote
jvmacross Posted May 15, 2013 Posted May 15, 2013 (edited) Because men with power don't want anything free left, and the internet was the last great free frontier. Just wait will you have to pay tax for regular peer to peer paypal transactions. eBay has been fighting this for 5 years, I know most don't like eBay, but support them if you want a free marketplace. and yeah if you live in the US, it doesn't matter what you declare, you don't pay duty or tax on imports. It's not the Feds you need to worry about....just check with local/State tax laws to see their rules regarding goods purchased abroad.... https://help.cbp.gov/app/answers/detail/a_id/295/related/1/session/L2F2LzEvc2lkL01jUVpwZnFs/~/state-sales-taxes-on-goods-purchased-overseas-and-brought-back-to-the-u.s. https://help.cbp.gov/app/answers/detail/a_id/446/related/1/~/state-sales-taxes-on-goods-purchased-overseas-and-brought-back-to-the-u.s. For example, FedEx sends me copies of the bill of lading they provide US Customs (showing declared value)...you can be sure they would supply the same info to your state tax agencies.... With many states in the red on their budgets....this may become more of an issue as they try and find ways to "plug holes"... Edited May 15, 2013 by jvmacross Quote
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