Base on past experience, if u bought only one watch and was wearing your new watch when entering Singapore...that shouldn't be a problem. Let's say u (being a guy) bought a nice hermes bag for your spouse and when custom scans your bag(normally its random checking), they won't buy your explanation if you say that's your bag and it's used. They will fine you 10x the GST value, if you did not declare it in the first place.
Like one of the guys here mentioned," do what u like, just don't get caught"
We are granted up to $300 GST reliefs.
GST Reliefs (based on the value of goods)
Period away from Singapore Below 18 years old 18 years old and above
Less than 24 hours No relief S$50
24 to less than 48 hours S$ 50 S$150
48 hours or more S$100 S$300
If you get caught for not declaring,
the fine for out-of-court settlement for first time offence is 10 times the duty amount subject to a minimum of $50.
So....an undeclared $10,000 watch can set you up for a $7000 fine...
Originally posted by santafe
I think our ICA folks will invite u go dink coffee as you are trying to evade the 7% gst.
FYI- anything more the value of $800.00 need to go red lane and declare gst.
In army there is a saying, you can do anything but don't get caught.
prrobably a wrong quote by SE. rolex watches are not price elastic products, so unlikely to drop px to up demand. furthermore, weaker chf translates to fatter margins to rolex due to fx gains. btw, chf effectively pegged to eur by snb and eur trading highr agianst usd compared to weeks ago.
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