The Rolex Forums   The Rolex Watch

ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX


Go Back   Rolex Forums - Rolex Forum > General Topics > Open Discussion Forum

Reply
 
Thread Tools Display Modes
Old 16 April 2018, 04:42 AM   #1
shirtguy
"TRF" Member
 
shirtguy's Avatar
 
Join Date: Jul 2010
Location: ny
Watch: sub-c Date
Posts: 1,322
vat discounts

IF I buy a watch overseas do I get the vat discount ?
shirtguy is offline   Reply With Quote
Old 16 April 2018, 04:48 AM   #2
tyler1980
"TRF" Member
 
tyler1980's Avatar
 
Join Date: Apr 2015
Location: Houston
Posts: 17,622
yes you get a VAT refund when exporting it out of the country, and then you declare it and pay duty when importing to your home country. So its not technically tax free, its better described as not paying taxes twice.

However the import duty is less than the VAT so you will still come out ahead in some locations.
__________________
Instagram: tyler.watches
current collection: Patek 5164A, Patek 5524G, Rolex Platinum Daytona 116506, Rolex Sea Dweller 43 126600, Rolex GMT II 116710LN, AP 15400ST (silver), Panerai 913, Omega Speedmaster moonwatch, Tudor Black Bay (Harrods Edition)
tyler1980 is offline   Reply With Quote
Old 16 April 2018, 05:01 AM   #3
shirtguy
"TRF" Member
 
shirtguy's Avatar
 
Join Date: Jul 2010
Location: ny
Watch: sub-c Date
Posts: 1,322
SAY VAT IS 17%
I get that back, at the airport?
then what happens when I come back into the states?
shirtguy is offline   Reply With Quote
Old 16 April 2018, 05:04 AM   #4
tyler1980
"TRF" Member
 
tyler1980's Avatar
 
Join Date: Apr 2015
Location: Houston
Posts: 17,622
Quote:
Originally Posted by shirtguy View Post
SAY VAT IS 17%
I get that back, at the airport?
then what happens when I come back into the states?
you won't get the whole 17% back. There are fees so its like 5% less or somewhat close to that. You fill out paperwork and get the paperwork stamped by customs at the airport and then the refund is processed. When you get home you declare at customs and pay fees. Not sure how much that is but im pretty sure its not a ton in the US. You should come out ahead.
__________________
Instagram: tyler.watches
current collection: Patek 5164A, Patek 5524G, Rolex Platinum Daytona 116506, Rolex Sea Dweller 43 126600, Rolex GMT II 116710LN, AP 15400ST (silver), Panerai 913, Omega Speedmaster moonwatch, Tudor Black Bay (Harrods Edition)
tyler1980 is offline   Reply With Quote
Old 16 April 2018, 05:06 AM   #5
shirtguy
"TRF" Member
 
shirtguy's Avatar
 
Join Date: Jul 2010
Location: ny
Watch: sub-c Date
Posts: 1,322
and you have to declare it at the us, regardless of cost?
shirtguy is offline   Reply With Quote
Old 16 April 2018, 05:10 AM   #6
037
2024 Pledge Member
 
037's Avatar
 
Join Date: Feb 2018
Location: USA
Posts: 6,173
Quote:
Originally Posted by shirtguy View Post
and you have to declare it at the us, regardless of cost?
Unless you don't want your VAT back and prefer to risk confiscation.

You could ship the box/papers home and wear the watch but you won't get VAT back.
037 is offline   Reply With Quote
Old 16 April 2018, 06:55 AM   #7
beshannon
"TRF" Member
 
beshannon's Avatar
 
Join Date: Jun 2009
Real Name: Brian
Location: Northern Virginia
Watch: One of Not Many
Posts: 17,892
Quote:
Originally Posted by shirtguy View Post
and you have to declare it at the us, regardless of cost?
Quote:
What items must I declare when entering the United States?
Upon entering the United States you must declare:

- Items you purchased and/or carrying with you upon return to the United States. (Gifts purchased or received)

- Items you inherited.

- Items you bought in duty-free shops, on the ship, or on the plane.

- Repairs or alterations to any items you took abroad and then brought back, even if the repairs/alterations were performed free of charge.

- Items you brought home for someone else.

- Items you intend to sell or use in your business, including business merchandise that you took out of the United States on your trip.

- All monetary instruments such as traveler's checks, cash, gold coins, negotiable checks, money orders, promissory notes, and securities or stocks.
https://help.cbp.gov/app/answers/det...tering-the-u.s.

https://www.cbp.gov/travel/clearing-...ler-entry-form
__________________
IWC Portugieser 7 Day, Omega Seamaster SMP300m, Vacheron Constantin Traditionnelle Complete Calendar, Glashutte PanoInverse, Glashutte SeaQ Panorama Date, Omega Aqua Terra 150, Omega CK 859, Omega Speedmaster 3861 Moonwatch, Breitling Superocean Steelfish, JLC Atmos Transparent Clock
beshannon is offline   Reply With Quote
Old 16 April 2018, 07:40 AM   #8
DPE
"TRF" Member
 
DPE's Avatar
 
Join Date: Oct 2014
Location: uk
Posts: 1,050
When does a watch not become an issue at an Airport ? If you have had it for several years as it was bought on a holiday. Say 10 years ago and from say, Spain ?. You then go on holiday to USA now 10 years later. On your return home you are stopped and asked about the watch you are wearing. Where do you stand ?
DPE is offline   Reply With Quote
Old 16 April 2018, 09:27 AM   #9
zaydans
"TRF" Member
 
Join Date: Apr 2015
Real Name: Joe
Location: CONUS
Watch: Rolex 116710
Posts: 994
UK VAT is 20% and by the time fees and such are deducted the total return is approx 15%.

Total tax to pay in the US side us around 3% as I think some had said already.
zaydans is offline   Reply With Quote
Old 16 April 2018, 09:52 AM   #10
car_wash_guy
"TRF" Member
 
Join Date: Aug 2017
Location: USA
Posts: 59
I've posted this in other threads...

I have a good friend that works for Border Patrol. Actually Customs at JFK.

They take great pride in confiscating undeclared items. He told me that they take it almost as a challenge to find stuff. Question people and find liars.

I personally don't agree with it 100% but they are just doing their jobs.
car_wash_guy is offline   Reply With Quote
Old 16 April 2018, 09:55 AM   #11
Quailhunter
"TRF" Member
 
Join Date: Apr 2016
Real Name: Doug
Location: Georgia USA
Watch: Rolex President
Posts: 1,348
I have traveled Internationally in my job often and have never been asked about my watch, a yellow gold DayDate. I’ve bought one watch while in the U.K. and paid duty on it upon my return to the US.

If you want to avoid any reentry issues, go to a Customs office and get a declaration form for the watch. The form proves you owned the watch prior to your trip. If done this for traveling with firearms often. I would guess you need the serial number of the watch.
Quailhunter is offline   Reply With Quote
Old 16 April 2018, 10:32 AM   #12
ROLEXster
"TRF" Member
 
ROLEXster's Avatar
 
Join Date: Jan 2012
Location: Vancouver, BC
Watch: is on BS wait list
Posts: 990
Quote:
Originally Posted by Quailhunter View Post
If you want to avoid any reentry issues, go to a Customs office and get a declaration form for the watch. The form proves you owned the watch prior to your trip.

I have done this once before leaving for vacation. Do I need to do this everytime or it is a one time thing and they register it in their data base ?
ROLEXster is offline   Reply With Quote
Old 16 April 2018, 10:35 AM   #13
Quailhunter
"TRF" Member
 
Join Date: Apr 2016
Real Name: Doug
Location: Georgia USA
Watch: Rolex President
Posts: 1,348
I keep my declaration form and use it every time I travel. I don’t think it expires. I would not rely on their data base.
Quailhunter is offline   Reply With Quote
Old 4 May 2018, 04:14 AM   #14
hwelsh
"TRF" Member
 
Join Date: Aug 2013
Location: Monterrey, Mexico
Posts: 6
Quote:
Originally Posted by shirtguy View Post
IF I buy a watch overseas do I get the vat discount ?
What if you buy just a clasp of a Rolex watch?
hwelsh is offline   Reply With Quote
Old 4 May 2018, 04:16 AM   #15
beshannon
"TRF" Member
 
beshannon's Avatar
 
Join Date: Jun 2009
Real Name: Brian
Location: Northern Virginia
Watch: One of Not Many
Posts: 17,892
Quote:
Originally Posted by hwelsh View Post
What if you buy just a clasp of a Rolex watch?
You bought it you declare it, not hard to understand.
__________________
IWC Portugieser 7 Day, Omega Seamaster SMP300m, Vacheron Constantin Traditionnelle Complete Calendar, Glashutte PanoInverse, Glashutte SeaQ Panorama Date, Omega Aqua Terra 150, Omega CK 859, Omega Speedmaster 3861 Moonwatch, Breitling Superocean Steelfish, JLC Atmos Transparent Clock
beshannon is offline   Reply With Quote
Old 4 May 2018, 04:17 AM   #16
ocwatching
"TRF" Member
 
ocwatching's Avatar
 
Join Date: Jan 2009
Real Name: Phil
Location: CA
Posts: 5,374
Quote:
Originally Posted by hwelsh View Post
What if you buy just a clasp of a Rolex watch?
__________________
too much into watches...
ocwatching is offline   Reply With Quote
Old 4 May 2018, 04:23 AM   #17
tyler1980
"TRF" Member
 
tyler1980's Avatar
 
Join Date: Apr 2015
Location: Houston
Posts: 17,622
Quote:
Originally Posted by hwelsh View Post
What if you buy just a clasp of a Rolex watch?
surely it easier to acquire an entire watch rather than smuggling it past customs piece by piece
__________________
Instagram: tyler.watches
current collection: Patek 5164A, Patek 5524G, Rolex Platinum Daytona 116506, Rolex Sea Dweller 43 126600, Rolex GMT II 116710LN, AP 15400ST (silver), Panerai 913, Omega Speedmaster moonwatch, Tudor Black Bay (Harrods Edition)
tyler1980 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Wrist Aficionado

My Watch LLC

WatchesOff5th

DavidSW Watches

Takuya Watches

OCWatches


*Banners Of The Month*
This space is provided to horological resources.





Copyright ©2004-2024, The Rolex Forums. All Rights Reserved.

ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX

Rolex is a registered trademark of ROLEX USA. The Rolex Forums is not affiliated with ROLEX USA in any way.