Posted on: 08-11-12 11:28:06
Quote:
Originally posted by Full House
Quote:
Originally posted by Fido
Q - A friend is traveling to Canada from Europe with a mint gold bar ( 100g) ... Would he be charged duty at customs ? I have heard that Gold bullion is duty free but just what precautions would be advisable and what should he say at the Airport ? ...... He is a returning PR .
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Canada. :
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Canada does not restrict the import of gold bullion, but you must declare your bullion at the border if you have the equivalent of $10,000 Canadian, according to Canada Border Services Agency.
FH
TARRIF and SECTION.
71.08 -- 7108.12.00
Weight to be stated in grams.
PURITY 99.5 OR BETTER ( otherwise they will consider it as crude Gold)
Tarrif and taxes differ for Crude Gold.
Country of origin. (Where the gold was minted.)
Caveat. : It should not bear a stamp or marking of a country that has trade
embargo. Such as IRAN and SYRIA.
Printed receipt. (Legible with sellers details)
Value on the date of purchase. As noted on the receipt.
Current value. approx. See Below.
DECLATION OF THE TOTAL VALUE : A MUST.
DECLARATION OF ALL OF THE IMPORTS, SUCH AS ALCOHOL,TOBACCO, CASH AND OTHER PURCHASES AND THE TOTAL VALUE OF ALL THE GOODS ON HIS PERSON AND GOODS TO FOLLOW, OF ALL OF THE FAMILY, MUST BE DECLARED ON FLIGHT DECLARATION FORM.
YOUR FRIEND IS A GREAT CANDIDATE FOR SECONDARY INSPECTION and CLEARANCE.
DUTY IS NIL.
Gold Price: $1718.90 / troy ounce.
Total Value $171,890 Approx.
FH
How does a 100 gm bar, valued @ approx 5510 $ be subject to secondary inspection, it is not 100 troy ounce, please note.
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mor
Whenever you experience joy, peace, security, equanimity or purity, it is only because you are aligned with ALMIGHTY.
Very Good Observation. The rest of the material holds good.
FH
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