Erwodachs
4/16/2016 22:54 EST
Hi, does anyone know the specifics how US junk silver coin will be handled when arriving in Brazil by airport?
The simple defensible position should be that it is simply U.S. Dollar legal tender, and even with almost 30k USD in value it would not exceed the 10000 BRL currency declaration threshold.
But who travels with coins? And how to ensure the officer at the street robbery checkpoint will agree with your reasoning?
Will they start calculating the silver content value? What are the laws and regulations for this? I know if you import it and declare it as precious metals, you would have to deal with huge bureaucracy and they would extort 18% of the value from you.
I cannot find mention of this anywhere, especially in the context of bringing it with you in air travel luggage.
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exnyer
4/21/2016 14:45 EST
Brasil has one true religion, TAXATION! if you bring in silver it will be taxed on its value. If they think its worth more, you will pay more. It is better to play it safe and tell the truth about the silvers value. Here is a good article with links on the subject.
http://thebrazilbusiness.com/tax-index
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exnyer
4/21/2016 14:50 EST
One more thing $30,000 is about
$R 120,000. perhaps you should consider more trips with values that are under the limits ?
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Erwodachs
4/23/2016 10:42 EST
You are absolutely right about the true religion.
Do you have a comparison with other countries around Latin America? I have searched and found that these street robbers are everywhere. You cannot travel freely with your property without paying of these goons in these holdups. Even such places as Panama seem to have it.
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exnyer
4/23/2016 11:53 EST
In the amounts of silver you are referring to, I have no experience. That said, I believe there is no place in the world that would not be interested in this amount of possible "free money" in the form of taxes.
South America seems to believe that this type of extortion-excuse me-taxation is good business.
Finally you must remember that corruption in S.A. is the norm. You gave them a reason to hold you up-sorry again-tax you, when you present your "wealth" to them. So it's your fault for being thrifty.
Brasil is considering tracking the expenditures of expats in order to tax us on "estimated income." If passed we may all be taxed as billionaires and have to prove we are not or leave, taking our money elsewhere.
Again is it possible to bring your silver in in amounts that can't be extorted-there I go again- taxed?
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Erwodachs
4/23/2016 22:22 EST
Do you have any news & references on the expat taxation reform bill in Brazil? Is this something real or just in the talks? May be I shouldn't get too cozy in Brazil if they make our lives hard.
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exnyer
4/26/2016 12:36 EST
During the boom years, the government failed to maximize the potential of the country by spending too much while not developing the needed foundation of real growth.
If this sounds like a lot of gobbligook, it is because Brasil is a VERY sensitive country about it's screw ups and you never know who is reading this stuff.
Again the amounts of silver you are carrying would raise tax interest anywhere you'd go.
In any event here is a good reference site.
https://www.angloinfo.com/brazil/how-to/brazil-money-income-tax
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