Importing a loose diamond to US

[zeiss]

Hello all,

Does the US custom access any duty/custom when importing a loose diamond from oversea ( india/antwerp/china... etc )? Thanks!

Zeiss

 

[neatfreak]

Is there a reason you''d do that? Usually the US vendors have the lowest prices by quite a bit.

 

[denverappraiser]

There is currently no import tax on loose diamonds imported into the United States per se but you may be subject to sales/use tax from the state or city where you live. Ring up the folks at customs and they’ll be happy to explain the procedure to you and your state revenuer's website probably has the necessary forms. Make sure you get your Kimberly Process forms from your seller to show at customs.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[strmrdr]

Date: 11/25/2008 2:00:17 PM
Author: denverappraiser
There is currently no import tax on loose diamonds imported into the United States per se but you may be subject to sales/use tax from the state or city where you live. Ring up the folks at customs and they’ll be happy to explain the procedure to you and your state revenuer''s website probably has the necessary forms. Make sure you get your Kimberly Process forms from your seller to show at customs.


Neil Beaty

GG(GIA) ICGA(AGS) NAJA

Professional Appraisals in Denver

That is really important if you want to avoid a trip to club fed.

 

[oldminer]

Neil;

Does an individual, consumer, have to supply a Kimberly Process form to US Customs to import a single diamond? I did not know of such a requirement on the general public. Many new and used jewelry items are imported set with diamonds an there is no Kimberly Process document with them. If the diamond is mounted in a ring, does this restriction apply? Loose diamonds have no import duty, but finished jewelry items may have a percentage of duty...... There are no Kimberly process documents with old cut diamonds. How do they get imported? How about newly cut, old reproduction diamonds? Let''s just be sure we are giving all the right advice.

The state sales tax or use tax issue is something which most people evade with success and reasonable impunity. Sure, every state is glad for consumers to report purchases and to pay use taxes, but how many Internet consumers report what they have bought on-line to their state revenue departments...Not many.

There are many obligations, but there seems to be many short cuts around them, too. If you are going to run for elected office some day, I suggest you do it all by the book, no exceptions.

 

[strmrdr]

anyone who imports over $50k worth in any year is required to have a Kimberly compliance program procedure set up and anyone else must supply them on request.
To ovoid a 6+ month delay and hiring a lawyer to get your diamond its a good idea to get one and include it with the shipment.