How High Are Silver Coins Taxed In Thailand When Imported?

[Sandman77]

Hello!

How high are the tax for silver for import?

Now the price of silver is very low, but each country have different silver tax, but normaly the eu shops should remove tax for export!

You think it's possible to make profit with this idea , or will the real silver crash will come again?

[Arkady]

I am sure silver bullion is subject to import duty and VAT. This seems a ludicrous proposition anyway, given that silver is only $23 an onze. You'd need to carry 24 kg of the stuff just to get to US$20k.

[Suradit69]

If you want to buy silver strictly for speculation/investment, you'd be better off doing it through a broker and buying one of the silver exchange traded funds. The cost of shipping any meaningful amount of silver, plus possible import duty would make dealing in physical silver cumbersome and expensive.

I have bought certified Chinese "antique" silver coins sent to me by post and rarely been charged any duty, but the value of those coins was mainly their rarity, not their silver content.

The consensus seems to be that the prospects for both gold and silver prices are not all that great in the next year or two. Of course, in most cases the "consensus" turns out to be wrong. If you believe prices will rise and you are prepared to hold it for several years, it's probably better to buy gold bars from dealers in Thailand. You may have to check several gold shops to find one with the bars, but they are available in as little as 1 baht weight, currently at about Baht 20,300.

Prices for gold in Thailand are usually set twice a day and can be found here: http://www.goldpricethai.com/

Edited June 6, 2013 by Suradit69

[Arkady]

The bigger gold shops sell 5 and 10 baht ingots. They readily accept ingots stamped with their own brand but for other brands you see them scraping away at them to see if there is any base metal underneath.

Ausiris deals in 999.9 gold in onzes, whereas most others deal only in Thai standard 96.5% weighed in baht.

For bullion trading you are probably better off holding ETFs that you can trade on the Thai SET, New York or other stock markets. If you want to hold over US$1 million, it is worth opening a Swiss bank account and getting them to hold the physical gold in their vault for absolute safety. Metals other than gold attract VAT in Switzerland, if held in physical form.

Like Suradit I find it more fun to collect rare coins bought from reputable dealers or auctioneers. Most of the value is numismatic, not bullion. They didn't go done in value in the sub-prime crisis and have continued to rise since then.

[Donnie Brasco]

If you want gold or silver to hold in your hand, buy bullion.

Some people want gold and silver in the hand because they value it as a portable, fungible (list bars) storage of wealth.

If you want paper positions buy paper.

It is a trade on the value of gold or silver rather than actual ownership of actual gold or silver.

Just remember that you will never be able to take physical delivery of an ETF position.

Paper is prized by those who wish to leverage their speculative venture.

A times it is also highly valued when some idiot has neglected to refill the mandy.

[Wombat6]

Why is Coins mentioned in the Topic Heading ??? Not mentioned in original post ??? Another "Lost in Translation thing ???

[Joe Mamma]

I would go for a strategic rare metal, like the Platinum's, there are many in that family and they have industrial and engineering value as well as military implementations. The platinum price is still up there and is insulated from the unstable gold market that you probably know about too well.

[pacovl46]

Why is Coins mentioned in the Topic Heading ??? Not mentioned in original post ??? Another "Lost in Translation thing ???

Because usually there's a tax on bullion, but not on coins. That's at least the way it is in Germany. Gold is tax free in either form.

[pacovl46]

I couldn't find any data online on coins or bullion, but for silver jewelry it's 20% import tax and 7% V.A.T.

[Sandman77]

Only when is 999 gold not every type!

In meantime found overview

http://www.thailandtax.com/duty-rates.html

In thai more higher taxed then in eu

Germany silver tax go up from 7 procent to 19 next January 1

After a longer search , I found this

Store your silver inside a Swiss maintain

Taxfree!

http://translate.googleusercontent.com/translate_c?depth=1&nv=1&rurl=translate.google.com&tl=en&u=http://www.elementum-international.ch/ber-die-gesellschaft&usg=ALkJrhgiU7J9p3qhCJjRcAX6nLQ8bNzrRQ

That's proberbly the best option and Swiss boarder only 20 km away from my hometown!

Silver biggest crash since 14 year, I never invest in silver but now it's a good time to do I hope price go up in future!

[mccw]

http://www.guernseymint.com/t/Bullion-Storage

Tax free bullion sales, vault storage options and can sell it back to them as well.

[mccw]

http://www.guernseymint.com/blog

The last entry on the page is well worth noting. Ie how the bullion in storage is held and how even if 100% backed by physical gold does not mean all delivery can be made. Guernsey holds allocated actual sizes so delivery is never a problem where as other backed by physical might hold bigger lumps to keep costs down. Eg 100 customers holding 1kg each = guernsey holding x100 one kg bars where another company might hold x5 10kg bars and a smaller float for delivery.

[Naam]

Only when is 999 gold not every type!

In meantime found overview

http://www.thailandtax.com/duty-rates.html

In thai more higher taxed then in eu

Germany silver tax go up from 7 procent to 19 next January 1

After a longer search , I found this

Store your silver inside a Swiss maintain

Taxfree!

http://translate.googleusercontent.com/translate_c?depth=1&nv=1&rurl=translate.google.com&tl=en&u=http://www.elementum-international.ch/ber-die-gesellschaft&usg=ALkJrhgiU7J9p3qhCJjRcAX6nLQ8bNzrRQ

That's proberbly the best option and Swiss boarder only 20 km away from my hometown!

Silver biggest crash since 14 year, I never invest in silver but now it's a good time to do I hope price go up in future!

that's indeed the best option. and whenever you need 10 or 20 kilos of the stored silver you jog across the border, fill your pockets and jog back home.

[Sandman77]

Not nesarsary , can do buy and sale with a mouse click or just a call !

Not find out yet what regular coasts

For one year storage , maybe around 3 procent of total value but still cheaper then the tax

[mccw]

0.5% on silver and 0.25% on the other metals

At guernsey

Also tax free

[yoshiwara]

Only when is 999 gold not every type!

In meantime found overview

http://www.thailandtax.com/duty-rates.html

In thai more higher taxed then in eu

Germany silver tax go up from 7 procent to 19 next January 1

After a longer search , I found this

Store your silver inside a Swiss maintain

Taxfree!

http://translate.googleusercontent.com/translate_c?depth=1&nv=1&rurl=translate.google.com&tl=en&u=http://www.elementum-international.ch/ber-die-gesellschaft&usg=ALkJrhgiU7J9p3qhCJjRcAX6nLQ8bNzrRQ

That's proberbly the best option and Swiss boarder only 20 km away from my hometown!

Silver biggest crash since 14 year, I never invest in silver but now it's a good time to do I hope price go up in future!

that's indeed the best option. and whenever you need 10 or 20 kilos of the stored silver you jog across the border, fill your pockets and jog back home.

Holding coins/bullion inside a Swiss mountain makes a lot more sense than a hidey-hole in one's Thailand apartment.

[Sandman77]

Lol, I think you talking about that thai high quality safes in Thailand that the stuff easily can open with a shoespoon!

If I would bring silver in real over the eu boarder from Swiss taxed by 25 procent!