shipping ring to Panama?!?!

[doctork]

Hi,

I am currently living in Panama City, Panama (Central America). I am planning to propose to my girlfriend in Paris in September. My issue is that when I pick & purchase the ring, I will need it shipped to Panama. I believe there is a 10-15% duty tax on items shipped in. On a 30k ring that''s like $4500!!!

There is no way for me to ''pick the ring up'' in USA between now and then. I''m not sure what to do? Any ideas?

 

[arjunajane]

Hmm..I can feel you pain as I am importing to Australia, so also need to pay around 15% duty and GST. The way I look at it, its still a much superior and much cheaper product than I can get here, so thats comforting..
Are you able to have your flight to Paris with a stop over close to where you''re buying? Sorry, I know its not that practical, but I''m not sure there''s much else you can do..

 

[Deelight]

Me personally I would make a stopover on my way over on the trip

 

[Skippy123]

Date: 6/8/2008 1:14:34 AM
Author: Deelight
Me personally I would make a stopover on my way over on the trip

Me too, that sounds like the best you can do. Sounds like a beautiful ring!

 

[doctork]

Problem is, the proposal is going to be a complete surprise. So a ''stop-over'' wouldn''t exactly work.

 

[Futuremrss]

For a $30,000.00 I could fake surprise, OKAY! I am pretty sure that no woman in her right mind would want you to spenk the $4500.00! That is the matching pair of earrings!

 

[Pandora II]

Pick the ring in advance, then I suggest a 'business trip' to the US. Get the ring shipped to you out of the state it's being made in - then no sales tax - and fly back home. Fed Ex to a decent hotel has worked for a friend of mine who needed to propose in SF in a hurry!

Ta dah!

 

[gwendolyn]

Date: 6/8/2008 1:04:02 AM
Author:doctork
Hi,


I am currently living in Panama City, Panama (Central America). I am planning to propose to my girlfriend in Paris in September. My issue is that when I pick & purchase the ring, I will need it shipped to Panama. I believe there is a 10-15% duty tax on items shipped in. On a 30k ring that's like $4500!!!


There is no way for me to 'pick the ring up' in USA between now and then. I'm not sure what to do? Any ideas?

If you aren't a legal resident there, it's possible you aren't liable to pay the duty tax (well, you'd have to pay it but might be eligible for a reimbursement). I am not a legal resident of the UK until I have been here 3 years, and as I understand it, I am not required to pay import tax until I am a legal resident. So anything I would have shipped to me here, I should receive a reimbursement for import taxes. Sure, it's a hassle, but it's better than paying.

No idea if Panama would be the same, but since you said you are "currently" living there, I figured it couldn't hurt to mention, in case you'd want to check it out.

 

[Deelight]

Date: 6/8/2008 9:18:42 AM
Author: Pandora II
Pick the ring in advance, then I suggest a ''business trip'' to the US. Get the ring shipped to you out of the state it''s being made in - then no sales tax - and fly back home. Fed Ex to a decent hotel has worked for a friend of mine who needed to propose in SF in a hurry!


Ta dah!

I was going to suggest the hotel thing as well

Another suggestion is to have it shipped to a decent hotel and take her on a shopping spree in the US should be fun have the ring ready with you

 

[doctork]

Great suggestions. I know this is a tough question with possibly no good answer.

Date: 6/8/2008 9:18:42 AM
Author: Pandora II
Pick the ring in advance, then I suggest a ''business trip'' to the US. Get the ring shipped to you out of the state it''s being made in - then no sales tax - and fly back home. Fed Ex to a decent hotel has worked for a friend of mine who needed to propose in SF in a hurry!

Ta dah!

This would be the ideal situation. Problem is we already have multiple trips booked between now and Paris. Also, she knows my business very well, and there is really no way an emergency business trip could come up without her being involved.

Date: 6/8/2008 9:26:59 AM
Author: gwendolyn
If you aren''t a legal resident there, it''s possible you aren''t liable to pay the duty tax (well, you''d have to pay it but might be eligible for a reimbursement). I am not a legal resident of the UK until I have been here 3 years, and as I understand it, I am not required to pay import tax until I am a legal resident. So anything I would have shipped to me here, I should receive a reimbursement for import taxes. Sure, it''s a hassle, but it''s better than paying.


No idea if Panama would be the same, but since you said you are ''currently'' living there, I figured it couldn''t hurt to mention, in case you''d want to check it out.

That''s a good idea and I will look into it for sure. I know I have definitely paid duty on other items I''ve shipped in, and have never heard of reimbursement for it. Although it could just be something that is not well known.

 

[doctork]

One possible thing I was thinking was having the ring shipped to the hotel in Paris where we will be staying. However then I would not get to see the ring in person before then!

 

[Pandora II]

If you ship to Paris - you''ll have to pay their sales tax.

Warning, I had some emeralds shipped from Switzerland to my setter in Italy - they were stuck in Customs for SIX WEEKS before we found out they had them, despite numerous phone calls etc.

Much better to just go to the USA, pick it up there and then you are sorted!

 

[Skippy123]

Date: 6/8/2008 1:15:36 PM
Author: Pandora II
If you ship to Paris - you''ll have to pay their sales tax.

Warning, I had some emeralds shipped from Switzerland to my setter in Italy - they were stuck in Customs for SIX WEEKS before we found out they had them, despite numerous phone calls etc.

Much better to just go to the USA, pick it up there and then you are sorted!

Ditto, I wouldn''t want to deal with a ring getting stuck in Customs. Hope it all works out for you

 

[doctork]

Another idea is that I have a friend in Florida. I could pay for his ticket down here, if he brings the ring to me. I should be able to get a ticket for ~$400.

 

[denverappraiser]

Date: 6/8/2008 4:22:06 PM
Author: doctork
Another idea is that I have a friend in Florida. I could pay for his ticket down here, if he brings the ring to me. I should be able to get a ticket for ~$400.

You’re asking your friend to conspire with you to commit a felony (tax evasion). That requires a pretty good friend. I wouldn’t recommend this one.

As mentioned above, Paris has a VAT that you will have to pay if you ship it there and although you will be able to apply for a refund on this it may end up getting reported to the Panamanians and it will definitely create a paper trail.

By all means, the first thing is to determine if your transaction is taxable at all. If both she and you are foreigners who are not permanent residents, chances are decent that it’s not. Talk to the customs people about it. It depends on details like whether this is a VAT, an import duty or something else entirely. Another possibility is to ship under a program called a ‘Carnet’ where you are agreeing to re-export it within a certain time frame. Assuming that you aren’t a permanent resident, and aren’t planning on becoming one, this is the plan after all.

You mentioned that you have several other business trips planned. Are any of these to a place that may be good for the shipment?

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

 

[doctork]

Date: 6/8/2008 4:47:37 PM
Author: denverappraiser

Date: 6/8/2008 4:22:06 PM

Author: doctork

Another idea is that I have a friend in Florida. I could pay for his ticket down here, if he brings the ring to me. I should be able to get a ticket for ~$400.

You’re asking your friend to conspire with you to commit a felony (tax evasion). That requires a pretty good friend. I wouldn’t recommend this one.


As mentioned above, Paris has a VAT that you will have to pay if you ship it there and although you will be able to apply for a refund on this it may end up getting reported to the Panamanians and it will definitely create a paper trail.


By all means, the first thing is to determine if your transaction is taxable at all. If both she and you are foreigners who are not permanent residents, chances are decent that it’s not. Talk to the customs people about it. It depends on details like whether this is a VAT, an import duty or something else entirely. Another possibility is to ship under a program called a ‘Carnet’ where you are agreeing to re-export it within a certain time frame. Assuming that you aren’t a permanent resident, and aren’t planning on becoming one, this is the plan after all.


You mentioned that you have several other business trips planned. Are any of these to a place that may be good for the shipment?


Neil Beaty

GG(GIA) ICGA(AGS) NAJA

Professional Appraisals in Denver

You are right, thanks for bringing that to my attention. Even if I flew to the states and picked the ring up and flew home, wouldn''t I have to declare the ring & the value of it at customs and pay duty/import taxes as well?

All my trips between Paris and now are to south american countries, so that doesn''t help.