bringing back thai gold to uk , avoid duty tax

[micmichd]

Sorry, it's true. Gold is a raw material, and at the same time it's a valid currency (ISO code AUR or XAU)

Your clever advices are nothing else but tricks for smuggling. Smuggling Asian valuables into countries with hyperinflational paper-only currencies like Euro.

You should be aware that the Dollar - Gold balance was given up in 1971 to finance a war you finally lost.

The meanest thing is your advice to misuse Thai ladies for gold-trafficking (hide your stash in their bras etc.)

Farangs like this should be banned from taking Thai women to Europe.

Especially to Germany where they might get scammed into giving up their Thai nationality.

Edited March 8, 2015 by micmichd

[micmichd]

smootherb:

Things and laws can change.

Eurocrats might have a strong desire to get gold flows under their exclusive control, just as a last straw to save their rotten economy.

Not so hard to extend 'Money Laundering' acts to gold-smuggling, if it's for the sake of economy.

[dennisrobertpell]

Leave it in Thailand as one day you will be glad you did...

[manarak]

Sorry, it's true. Gold is a raw material, and at the same time it's a valid currency (ISO code AUR or XAU)

Your clever advices are nothing else but tricks for smuggling. Smuggling Asian valuables into countries with hyperinflational paper-only currencies like Euro.

You should be aware that the Dollar - Gold balance was given up in 1971 to finance a war you finally lost.

The meanest thing is your advice to misuse Thai ladies for gold-trafficking (hide your stash in their bras etc.)

Farangs like this should be banned from taking Thai women to Europe.

Especially to Germany where they might get scammed into giving up their Thai nationality.

Sorry, a forex code doesn't make gold (or silver) a valid currency.

A wealth item is a valid currency only when it is officially defined by a country's LAW as a legal means of payment to settle debts in that country.

And your own argument is illogical, because IF gold was a currency, it wouldn't be possible to charge VAT on it.

Moreover, the price of gold is approximately the same everywhere in the world, so could you explain the benefits of "gold smuggling" vs. smuggling undeclared currency?

Edited March 8, 2015 by manarak

[Baerboxer]

We go back and forth to the states and to date never an issue. I do not declare anything that will also leave with me or has been and out of the US. I am a citizen of US but not a resident. We are body scanned every time we entered and the gold shows up as huge green patterns on the inspectors screen. Never questioned. The gold is not bright and shiny so it does not resemble new. There are tricks for this but will not divulge because some people clean the jewelry which keep it shiny even if older and well worn.

Thai gold is not bright and shiny so whatever it is you are doing with your crap western gold to make it dull is of zero relevance to the question asked by the OP.

Go and have a look in a big gold shop at the variety of products on offer.

Traditional pattern is a little dull, not as dull as the Indian designs but still dull.

Modern designs bracelets, necklaces, rings and pendants can be less dull, or more shiny if you prefer as you put it, although the gold content is still higher than such items usually sold in the UK. Don't know about the US.

Open your eyes.

To the OP. You do understand that Dublin isn't part of the UK don't you? Are you asking about the UK or Eire?

[Baerboxer]

How many women that have A 2,3 or 4 karat diamond ring declare it or even have A sales receipt when her fiancé bought it for her?

Isn't that the same for A 5 to 10 baht bracelet or neckleace.People don't declare this stuff.At least I've never heard of it.

I did once, about 20 years ago at Manchester airport. Had a lot of presents after a business trip around Far East just prior to Christmas. I declared an expensive gold bracelet bought as present for my then wife and they charged VAT and gave me a receipt. I was wearing a weighty gold bracelet and the officer asked if it was old, accepting it was.

The second time at Manchester I had to look for an officer, very early morning arrival. He inquired the total value I was about to declare, then waived me through saying that's ok sir, no problem, thanks for checking.

Haven't bothered since.

However. all Western countries are now looking at any way possible to skin money from people and the VAT rate has jumped considerably.

[micmichd]

The dual use of gold - as raw material and currency - is surely a challenge for law-makers.

It could end up with a compromise like

- Gold = currency for ECB and the like only, no VAT

- Gold = raw material for private persons, duty customs or VAT.

There would still be a gap, but economy is never only logical.

The benefit of gold smuggling is in speculating in inflation of European currency.

The gold price is only stable against stable currencies like THB.

If you would have bought gold in Thailand for Euros 2 years ago, and now sell that gold in Europe, you would make a profit of 20pct approximately, like (50 / 34.7) - 1. Look the XAU / EUR charts if you don't believe it.

This profit could be taxed.

Be rest-assured, it will be taxed if nothing else helps to get a small delay on the Euro collapse.

[Don Mega]

We go back and forth to the states and to date never an issue. I do not declare anything that will also leave with me or has been and out of the US. I am a citizen of US but not a resident. We are body scanned every time we entered and the gold shows up as huge green patterns on the inspectors screen. Never questioned. The gold is not bright and shiny so it does not resemble new. There are tricks for this but will not divulge because some people clean the jewelry which keep it shiny even if older and well worn.

Thai gold is not bright and shiny so whatever it is you are doing with your crap western gold to make it dull is of zero relevance to the question asked by the OP.

Go and have a look in a big gold shop at the variety of products on offer.

Traditional pattern is a little dull, not as dull as the Indian designs but still dull.

Modern designs bracelets, necklaces, rings and pendants can be less dull, or more shiny if you prefer as you put it, although the gold content is still higher than such items usually sold in the UK. Don't know about the US.

Open your eyes.

To the OP. You do understand that Dublin isn't part of the UK don't you? Are you asking about the UK or Eire?

I neither need to visit a gold shop or open my eyes to verify my comment as I have purchased plenty of it over the years and none of it is shiney like the crap stuff they sell back home.

[bazza40]

Sorry, it's true. Gold is a raw material, and at the same time it's a valid currency (ISO code AUR or XAU)

Your clever advices are nothing else but tricks for smuggling. Smuggling Asian valuables into countries with hyperinflational paper-only currencies like Euro.

You should be aware that the Dollar - Gold balance was given up in 1971 to finance a war you finally lost.

The meanest thing is your advice to misuse Thai ladies for gold-trafficking (hide your stash in their bras etc.)

Farangs like this should be banned from taking Thai women to Europe.

Especially to Germany where they might get scammed into giving up their Thai nationality.

Sorry, a forex code doesn't make gold (or silver) a valid currency.

A wealth item is a valid currency only when it is officially defined by a country's LAW as a legal means of payment to settle debts in that country.

And your own argument is illogical, because IF gold was a currency, it wouldn't be possible to charge VAT on it.

Moreover, the price of gold is approximately the same everywhere in the world, so could you explain the benefits of "gold smuggling" vs. smuggling undeclared currency?

Gold is a more meaningful currency than the toilet paper many governments are printing now to stave off economic collapse. When the US went off the gold standard, gold was $35 an ounce. Look at it now.

Interesting that while most nations will not allow their citizens to make payment of debts in gold, those same nations hold considerable stocks of it in their government bank vaults.

There is plenty of forward supply of gold in the world, which helps keep its price down. Personally, I prefer platinum because forward supply is very limited, and unlike gold it's an essential material for a number of industrial uses.

I don't know if there is any tangible benefit to shifting gold or paper currency between various countries. However, if things go pear-shaped in the world of finance, which would you rather be holding?

[micmichd]

As a German, I would surely prefer solid gold to paper Euro. Unfortunately, I get my pensions in Euro.

For UK, I guess the situation is more complicated.

They have special laws for offshore banking.

And they have HSBC, a bank too big to fail, ie they have to socialize the damage HSBC cause to British economy.

Ie. UK will have to rise taxes to support HSBC although they are already investigating against them.

Cutting down offshore banking and taxing gold transfer would be a (short-time) solution.

In the long run, we are all dead, anyway.

But countries with gold and strong families like Thailand will have a better chance to survive.

[sead]

Guess you have like 10 necklaces on you... i have borrowed my brothers necklace of 450g with an 128g scorpion attached to it and never did any custom ask for an receipt. But I'm not wearing it any longer as it's to heavy..

But you sure could spot that necklace from a miles distance

[dirtycash]

What is being asked here of fellow TV members is advice on how to break the law. Smuggling is illegal in most countries, plain and simple. No sympathy when you get fined again.

I love it 555

[easyride]

Dublin isn't in the UK.

This guy is quite correct. May not help but all gold sold in the UK MUST BY LAW carry a hallmark.

Why not just say it's brass? Thai gold is very yellow anyway.

[rocketboybkk]

There's no point in keeping a receipt as Thai gold is currency you can sell it easily

As for paying duty on it, bad luck id say.

Wear it back.

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[Thongkorn]

We buy gold every time we go never had any problems, yet, and we have sold it in the UK with no problems,

[DarloKnight]

Don't want to sound rude but yellow gold is very 1980's I would not buy unless to sell, most of my jewellery is white gold, I have a jewellery box full of yellow including a watch but would not wear it as it is very old fashioned in my opinion.

[rocketboybkk]

Don't want to sound rude but yellow gold is very 1980's I would not buy unless to sell, most of my jewellery is white gold, I have a jewellery box full of yellow including a watch but would not wear it as it is very old fashioned in my opinion.

Thanks for your opinion but your off topic, nobody asked

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[Anthony5]

In Amsterdam Shipol Airport we had to pay customs for a gold necklace.

My girl had bought the necklace from a Thai girlfriend in Europe privately, so that we were unable to provide a receipt.

Unfortunately, she had taken the necklace to Thailand, on the way back then, they checked us and we must pay.

Lesson learned.

Keep the customs invoice for the next travels.

Make a foto from your girl with her necklace in front of a known building, so that you can prove that she had the necklace before.

In most cases, jewelry will be given away as a gift, who keeps the receipt for years?

Schiphol is criminal. Many years ago I paid the equivalent of 60.000 Baht on a Rolex I was wearing for 10 years already at Schiphol because I didn't have a receipt.

They told me they didn't charge me the full amount because they could see it was worn.

[DarloKnight]

Don't want to sound rude but yellow gold is very 1980's I would not buy unless to sell, most of my jewellery is white gold, I have a jewellery box full of yellow including a watch but would not wear it as it is very old fashioned in my opinion.

Thanks for your opinion but your off topic, nobody asked

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Gosh thanks for taking the time to point that out to me......

[stud858]

I guess this relates to the 10000us dollar out of the country rule to stop illegal money. If you declare it at the start. Should be fine,  otherwise it's just theft to take your gold or money as a fine. 

Mind you, I would have cracked a wobbly, tore off all my clothes and said here steal my money steal my clothes too.