yego.me
💡 Stop wasting time. Read Youtube instead of watch. Download Chrome Extension

Taxes vs Duty (Clip) | To Catch a Smuggler | National Geographic


2m read
·Nov 10, 2024

You purchased this. We have to add this up. All right.

So how much is this adding up to? Do you understand?

Well, that's one side. It's got to go on the other side. There's exact prices of how much she paid.

She has ten. $15,000 worth of gold. Are you aware you have to pay duty on gold? You pay duty here. So when you come into the U.S.. Yeah, right.

All purchases. You have to pay duty on these items, right? But that's irrelevant to us. You have to pay duty to the US government when you purchase anything.

I do this every day. I know exactly what I'm looking for. It's always going to be fair.

And I'm all right. We're going to move on to the bags. So you did declare 6000 in clothes, and the new clothes that you are declaring are in there, right?

Yeah. No. Well, everything is recorded, so you can file a complaint if you think something is missing.

So you're declaring 6000, right? Yeah. And then we have more here. Okay, but you have to declare things the right way.

If there is a failure to declare, the government can seize these items. But you didn't declare everything.

But did you ever pay duty to be here like this? Look, no. That's irrelevant. This is US customs, and you have to pay duty here.

Okay. So I'm going to make the calculation. So the clothes you did declare, you were doing good. But then we have a lot of items missing.

So on those items, you're going to have to pay a penalty. The items you did, the clerk is going to be $506.

The penalty on the other items is $5,600. So I have to ask, are you going to pay it or...

20 penalty was pretty hefty. But people who want to bring in ten, $15,000 worth of gold are going to get penalized.

And she decided to pay, and she walked out to go with our stuff.

Yeah. Tough cookie.

More Articles

View All
Warren Buffett on Bitcoin: Has His Opinion Changed?
Bitcoin, it’s ingenious and blockchain is important, but Bitcoin has no unique value at all. It doesn’t produce anything. You stare at it all day and no little bitcoins come out or anything like that. It is a delusion, basically. One point this weekend y…
The Most Misunderstood Concept in Physics
This is a video about one of the most important, yet least understood concepts in all of physics. It governs everything from molecular collisions to humongous storms. From the beginning of the universe through its entire evolution to its inevitable end. I…
Binomial variables | Random variables | AP Statistics | Khan Academy
What we’re going to do in this video is talk about a special class of random variables known as binomial variables. As we will see as we build up our understanding of them, not only are they interesting in their own right, but there’s a lot of very powerf…
15 Things You Should Know When Starting a Business
Let’s just get this out of the way right off the hop: starting a business is not for everyone. Some people possess a particular set of traits that just fit better with the entrepreneurial template. You can be happy and successful by working for someone el…
How to Mountain Bike Like a Pro | Get Out: A Guide to Adventure
Hi, I’m Eric Porter. I’m a professional mountain biker, and I’m going to teach you how to get started with mountain biking. I love mountain biking ‘cause it’s a great way to get away from everything, get out into the woods, ride your bike, challenge your…
How Millionaires Think About Business | ft. Randall Kaplan
Kevin: “How good is this flavor?” I said, “It’s fantastic! I worked with the cats; I know they love it.” He said, “No, you’re gonna eat some right now. Prove it!” He made me eat the whole tin in front of the entire sales group. I want to talk about you…