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Customs authorities seize record-high 6,200 kg of smuggled gold in 2017

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Would Takagi get through customs with extra gold shaped in medal or would the officer say hey, I thought you only got two?

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Japan's customs authorities seized a record 6,236 kilograms of gold smuggled into the country in 2017, government data shows.

The number of gold smuggling cases handled by the authorities jumped 66 percent to 1,347 from 811 in 2016, the Finance Ministry said in its report.

Gold is traditionally used as a safe haven asset, there were a number of high profile gold robberies in Japan last year - do you think that the people buying this gold know something about the highly indebted Government and the economy.

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I am not sure if the word "seize" is the right one in these cases. According to the TV news, the gold is returned after the smugglers pay the 8% tax and a fine.

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There are specialized goldsmiths in South Africa who make Gold Rands into necklaces to skirt the gold/valuables import law. It’s also common for wealthy people to fashion their precious metals and minerals into jewelry so they can cross borders without having to declare.

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If that's what they are catching imagine what's getting through. Probably 10 or 100 times that.

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Customs authorities seize record-high 6,200 kg of smuggled gold in 2017

That's a lot of rectum space!

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So if you bought gold in another country, paid all the taxes there, and bring it to Japan, you have to pay more tax upon it's perceived value ? Sounds like yet another rip of way to squeeze money out of you.

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