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malcontent
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by malcontent » Wed, 25 May 2022 2:19 am
Lisafuller wrote: ↑Wed, 25 May 2022 1:18 am
malcontent wrote: ↑Tue, 24 May 2022 11:02 pm
x9200 wrote: ↑Tue, 24 May 2022 9:30 pm
I am just watching on NGC the episodes of "To Catch a Smuggler" - it is based on a few major US airports: Miami, JFK etc. Probably 20% of the cases concern bringing in the money and failing to declare it. Looks like they got pretty accustomed since that trip of yours.
Yep, that is one thing I don’t understand — and this seems especially prominent in the Asian culture to not want to declare anything.
In reality, declaring things is the best way to get away with something. Because people who do declare generally don’t try to get away with anything! If you want to try and bring in food items that aren’t allowed, the best way is to declare the food items that are allowed and put that on top so it’s the first thing they see when they unzip your luggage!
Also, declaring is a bit like an insurance policy… at least if you declared something, they are less likely to fine you. Declaring nothing when you clearly have something is the best way to kena fine. And the chance of getting caught is higher than many people think, especially if you are Asian — they do profile, as they know Asians tend to bring food.
For cash it’s even more of a no-brainer, if you declare it you have nothing to lose, it’s not like they are gonna levy a tax on your cash, they just want it declared. But if you don’t declare it you’ve got everything to lose — they can confiscate all of your money and you may never see a single cent. Is it worth that risk?
Very true, the one with something to hide is always going to be found guilty over the one who is upfront and transparent. And at times, paying the tax can be much cheaper than paying the fine later.
I think that is a misperception that a lot of people have — that some tax needs to be paid if they declare cash. This is simply not the case, you can bring in unlimited piles of cash without any tax… you just have to declare it if over a certain amount, that is all. It costs nothing other than your time and hassle, but that is far better than confiscation due to not declaring.
Every great and deep difficulty bears in itself its own solution. It forces us to change our thinking in order to find it - Niels Bohr
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x9200
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by x9200 » Wed, 25 May 2022 7:38 am
Lisafuller wrote: ↑Wed, 25 May 2022 1:13 am
malcontent wrote: ↑Tue, 24 May 2022 1:00 am
I’m not sure if anyone has had the experience of exceeding the limit and having to make a declaration upon entry. I had this experience once on a trip to the US where I was carrying more than the US$10,000 limit. I had the declaration filled out and printed before arrival and handed it to customs. The way they reacted told me they don’t see many of these, and they made me go to a separate place and discuss it with another officer. That officer also seemed to be surprised to see such a form, and after he felt comfortable about where the money came from (my salary from work) he told the other officer he feels comfortable and the other officer did not object - I was then allowed to pass as normal. In total this probably delayed me by about 15-20 minutes, mainly because of the apparent novelty and lack of experience the officers had with such things. I told them in the future I will just transfer the money rather than carrying cash, it’s just not worth the extra time and hassle involved. Besides, I don’t want to know what would happen if the officer decided he wasn’t comfortable!
Were you getting paid in cash at this time? Can’t imagine how it would have been more convenient to carry a suitcase full or cash instead of just transferring electronically.
Apparently cheques (I guess bearer paid) also count in. Yesterday I watched an episode when one Korean uncle got caught with cheques for USD>130k.
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x9200
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by x9200 » Wed, 25 May 2022 7:42 am
malcontent wrote: ↑Wed, 25 May 2022 2:19 am
I think that is a misperception that a lot of people have — that some tax needs to be paid if they declare cash. This is simply not the case, you can bring in unlimited piles of cash without any tax… you just have to declare it if over a certain amount, that is all. It costs nothing other than your time and hassle, but that is far better than confiscation due to not declaring.
Misconception is probably the main case, but even if one has USD<10k and is unlucky to be chosen for screening they may question you if the amount does not match well your profile.
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Lisafuller
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by Lisafuller » Thu, 26 May 2022 4:36 am
x9200 wrote: ↑Wed, 25 May 2022 7:42 am
malcontent wrote: ↑Wed, 25 May 2022 2:19 am
I think that is a misperception that a lot of people have — that some tax needs to be paid if they declare cash. This is simply not the case, you can bring in unlimited piles of cash without any tax… you just have to declare it if over a certain amount, that is all. It costs nothing other than your time and hassle, but that is far better than confiscation due to not declaring.
Misconception is probably the main case, but even if one has USD<10k and is unlucky to be chosen for screening they may question you if the amount does not match well your profile.
Yup, someone who’s been unemployed for years carrying heaps would certainly set off some alarm bells.
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Lisafuller
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by Lisafuller » Thu, 26 May 2022 4:37 am
x9200 wrote: ↑Wed, 25 May 2022 7:38 am
Lisafuller wrote: ↑Wed, 25 May 2022 1:13 am
malcontent wrote: ↑Tue, 24 May 2022 1:00 am
I’m not sure if anyone has had the experience of exceeding the limit and having to make a declaration upon entry. I had this experience once on a trip to the US where I was carrying more than the US$10,000 limit. I had the declaration filled out and printed before arrival and handed it to customs. The way they reacted told me they don’t see many of these, and they made me go to a separate place and discuss it with another officer. That officer also seemed to be surprised to see such a form, and after he felt comfortable about where the money came from (my salary from work) he told the other officer he feels comfortable and the other officer did not object - I was then allowed to pass as normal. In total this probably delayed me by about 15-20 minutes, mainly because of the apparent novelty and lack of experience the officers had with such things. I told them in the future I will just transfer the money rather than carrying cash, it’s just not worth the extra time and hassle involved. Besides, I don’t want to know what would happen if the officer decided he wasn’t comfortable!
Were you getting paid in cash at this time? Can’t imagine how it would have been more convenient to carry a suitcase full or cash instead of just transferring electronically.
Apparently cheques (I guess bearer paid) also count in. Yesterday I watched an episode when one Korean uncle got caught with cheques for USD>130k.
How would they ever find cheques??? If they're so small and can be tucked away easily.
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Lisafuller
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by Lisafuller » Thu, 26 May 2022 4:37 am
malcontent wrote: ↑Wed, 25 May 2022 2:19 am
Lisafuller wrote: ↑Wed, 25 May 2022 1:18 am
malcontent wrote: ↑Tue, 24 May 2022 11:02 pm
Yep, that is one thing I don’t understand — and this seems especially prominent in the Asian culture to not want to declare anything.
In reality, declaring things is the best way to get away with something. Because people who do declare generally don’t try to get away with anything! If you want to try and bring in food items that aren’t allowed, the best way is to declare the food items that are allowed and put that on top so it’s the first thing they see when they unzip your luggage!
Also, declaring is a bit like an insurance policy… at least if you declared something, they are less likely to fine you. Declaring nothing when you clearly have something is the best way to kena fine. And the chance of getting caught is higher than many people think, especially if you are Asian — they do profile, as they know Asians tend to bring food.
For cash it’s even more of a no-brainer, if you declare it you have nothing to lose, it’s not like they are gonna levy a tax on your cash, they just want it declared. But if you don’t declare it you’ve got everything to lose — they can confiscate all of your money and you may never see a single cent. Is it worth that risk?
Very true, the one with something to hide is always going to be found guilty over the one who is upfront and transparent. And at times, paying the tax can be much cheaper than paying the fine later.
I think that is a misperception that a lot of people have — that some tax needs to be paid if they declare cash. This is simply not the case, you can bring in unlimited piles of cash without any tax… you just have to declare it if over a certain amount, that is all. It costs nothing other than your time and hassle, but that is far better than confiscation due to not declaring.
And in any case, when they need you to declare it it is just to prevent (literal) capital flight. I always found it funny when I first learned about the term.
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x9200
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by x9200 » Thu, 26 May 2022 9:44 am
Lisafuller wrote: ↑Thu, 26 May 2022 4:37 am
x9200 wrote: ↑Wed, 25 May 2022 7:38 am
Lisafuller wrote: ↑Wed, 25 May 2022 1:13 am
Were you getting paid in cash at this time? Can’t imagine how it would have been more convenient to carry a suitcase full or cash instead of just transferring electronically.
Apparently cheques (I guess bearer paid) also count in. Yesterday I watched an episode when one Korean uncle got caught with cheques for USD>130k.
How would they ever find cheques??? If they're so small and can be tucked away easily.
He didn't know he needed to declare it so if I remember correctly he kept it in his wallet or together with other travel documents. He said he traveled with the cheques for years
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Lisafuller
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by Lisafuller » Fri, 27 May 2022 1:07 am
x9200 wrote: ↑Thu, 26 May 2022 9:44 am
Lisafuller wrote: ↑Thu, 26 May 2022 4:37 am
x9200 wrote: ↑Wed, 25 May 2022 7:38 am
Apparently cheques (I guess bearer paid) also count in. Yesterday I watched an episode when one Korean uncle got caught with cheques for USD>130k.
How would they ever find cheques??? If they're so small and can be tucked away easily.
He didn't know he needed to declare it so if I remember correctly he kept it in his wallet or together with other travel documents. He said he traveled with the cheques for years
Well I guess if anything he could always let them tear it up at customs and then have the issuer write another one. Problem solved!
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