Hi Guys I am planning a trip to Japan shortly for a holiday and was thinking I might take a couple of Perth Mint 1 Oz gold bars with me to fund the trip. Do you have any advice regarding customs laws, the tax there is it 8% or 10% and any recommended places to sell in Tokyo or Sapporo? Thank-you for your help. V.
Hello V Can I suggest you may wish to contact an Aussie stacker than now lives in Japan I’m sure he will have the info you require andsing56
After entering into the airport in Tokyo, i would be scared to bring gold into Japan. There were posters everywhere that made you feel like a criminal. Why wouldn't you just sell it to a dealer here and make life easy? Stuff like this.
Thanks for the replies guys. From my preliminary reading yes they are clamping down on smugglers because the tax that is paid to the seller makes smuggling gold into Japan lucrative. However from what I have read you may bring in up to 1 kg of gold without having to declare it through customs? So by the time you get paid the extra 8 or 10% (whatever it is now) it becomes a good deal for holiday makers such as myself. This is all from what I have read and I am just looking for some confirmation of this from someone in the know? Thanks again.
looks like you can get about 1oz in with no tax applied. For an extra $200~ it's not worth the hassle. http://www.customs.go.jp/english/c-answer_e/keitaibetsuso/7305_e.htm
I'd just do it here and avoid the hassle. Enjoy your holiday instead of wasting time finding and going to a dealer.
Thanks guys You may be interested in this article:- https://asia.nikkei.com/Economy/Japan-braces-for-gold-smuggling-rush-in-shadows-of-tax-hike I realize that some may think it may not be worth the "hassle" for an extra 10% but I look at this way. Sell to a local dealer in Australia - lose 3% Exchange AUD for Yen - lose another 3 - 5% Plus the exchange rate for AUD into Yen is going South. Now 71 down from 76 not long ago. Surely it can't be too hard to find a dealer in Tokyo! PS I am in no way suggesting "smuggling" into Japan. Just thought you might find the article interesting...
I found this place. Wish i knew about it when i was there! as i stayed at a hotel that's only a 3min walk from it in Ginza. Oh well, next time. https://www.tanaka.co.jp/english/about/group/tkj.html Buy and Sell prices. https://gold.tanaka.co.jp/commodity/souba/english/ This is a nice display!
Thanks Leo for your help. So from what you have posted from the Customs information website, I can take in gold up to 200,000 Yen ($2,817 AUD) without having to declare anything and without having to pay anything? Is that your understanding? So I could take in 1 Oz currently worth about $2,250 AUD (160,000 Yen) and sell it for about $2,452 AUD? Better than a poke in the eye with a sharp stick
yea that's how i understood it. Though i wonder if you have to submit any info at the store? (like how you do here if you spend more then $5k) Hope someone can confirm more details for you. Please let us know how it all goes when you get back.
Thanks Leo I have contacted andsing56 as suggested by Silverman99 above. Hopefully he will be able to give me the good oil
Just rock on down to Shinjuku and look for a guy with full sleeve tatts. He'll do ya a deal. On a serious note, if you haven't been to Tokyo before, if you are there on a Sunday, take the train down to Harajuku early afternoon and enjoy the street life on display. It's a fun afternoon. Enjoy the hols.
They confiscated over 6 tonnes of gold. That is a great trade. On a lighter note if you are travelling with family you could take an ounce each. Personally I would take a lunar or something that is gold but has a subjective value but none the less more value. Definitely worth it due to all the percentage losses with selling and getting some yen. Japan is such a great country. I loved Tokyo and travelled a little there and just enjoyed every moment. Skiing I have yet to have the pleasure. I hope soon. Likely I will be taking a couple of ounces myself.
PS we should be expecting gold taxes once negative interest rates hit Australia. Damn. Forewarned is forearmed.
From my two trips there, bullion dealers seemed far and few between (at least in the main city / touristy areas). A blog post from my earlier trip may be of interest: http://www.bullionbaron.com/2010/10/gold-in-japan.html One dealer I visited in Shinjuku (https://www.ginzatanaka.co.jp/en/shop/shinjuku.html) sold bullion, they may buy too. I didn't see any buy backs on display there, it was all meticulously presented, freshly minted bullion coins, ingots and art pieces. I would sell before you go and just take the cash. Just because they have a higher sales tax on gold over there, doesn't mean a dealer will pay you any more than spot price.
There appears to be a contradiction - it first indicates a 1kg allowance for imported gold, but then in the next sentence it says a 200000 yen limit. So which is it - these arent remotely close - 1kg of gold is about 5 million yen (about AUD$70,000) whereas 200000 yen is just about AUD$3000. Bloody useless bureaucrats as usual - no clarity at all - how are you supposed to know until you try and then likely fall foul of the law and have it confiscated ? http://www.customs.go.jp/english/c-answer_e/keitaibetsuso/7305_e.htm "(2) When precious metal (gold with over 90% purity) exceeds 1kg in total weight. *Please note if you are going to import gold bullion (regardless of its purity or weight) and other items which value exceeds 200,000 yen in total, you have to fill in the form “Declaration of Personal Effects and Unaccompanied Articles”. (Consumption taxes etc. are imposed.)"
It says 1kg of "precious metal". If you were carrying 1 kilogram of silver and 1 ounce of gold it would be above the weight limit, but below the value limit. So my read is that if you exceed the weight OR value limit then you need to declare the bullion you are travelling with.
It says "When precious metal (gold with over 90% purity) exceeds 1kg in total weight" The fact it specifically says gold makes it confusing. It's poorly written, which makes perfect sense for a government written document. From what i can gather there are two different forms; one if you have more then 1kg and one if you have more then 200k yen but less then 1kg. But in either case you have to declare it.