2025-12-25 16:23:47

I recently heard a heartbreaking case: a friend entered with 400,000 HKD but got caught at customs for not declaring. When they checked the suitcase, the stash was exposed, and they ended up paying a 6% fine. Previously, someone was fined 10% for not declaring over 1 million HKD. When you do the math, it’s really not worth it.

Here’s the key point—there’s actually no limit on carrying foreign currency into the country, but if you exceed $5,000 USD, you must proactively declare. The process is quite simple; you can make an appointment in advance using a mini-program or handle it on-site. Customs officers won’t make it difficult; just fill out a form and get a stamp, which takes a few minutes. After obtaining the document, you can directly deposit the foreign currency into a domestic bank. The entire process is very smooth.

There’s a tiered penalty system—up to 20%, but as long as you cooperate proactively and the amount isn’t excessively large, it’s usually between 1% and 6%. Basically, it’s all about attitude.

Another detail worth noting: customs itself doesn’t collect taxes, but the declaration information is shared with the foreign exchange administration. In theory, the tax bureau can request to access the data, but industry insiders say the system mainly syncs with the foreign exchange department for now, and the tax authorities haven’t actively retrieved this data. I’ve also never heard of anyone being summoned by the tax bureau just for declaring foreign currency.

Finally, here’s a fun fact: a 28-inch checked luggage can hold $5 million in cash. Just imagine the size.

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SatoshiChallenger

· 10h ago

Data shows that the proportion of people who bypass declaration and get fined is much higher than those who cooperate voluntarily. Ironically, most people are still gambling on the odds. I've heard this logic too many times. Do you know how the guy who thought "the system is not actively collecting data for now" is doing now? I'm not trying to argue, but the words "for now" in the tax department's statement look very risky. The lessons from history are right there. Interesting, does the cold knowledge at the end of the article seem to imply something? A suitcase worth 5 million USD—how far this logic can be extended, I won't say. Filling out forms and stamping them—risk is never in the process itself but in the subsequent audits. Objectively speaking, voluntary declaration actually leaves a complete information chain, which is truly advantageous for someone to consider. Those who bypass are now waiting to see who will become the first case of "sudden interview."

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YieldWhisperer

· 11h ago

Ha, another case of "being too clever by half." Dare to hide 400,000 HKD, really brave. It's just filling out a form, much better than sneaking around and getting fined 6%. Customs isn't here to make things difficult for you, just following procedures. Packing 5 million in a 28-inch box? That number is a bit extreme. I just want to ask, has anyone actually done this? Reporting such a simple matter and only learning after being fined, is it worth it? It's 2024, and you're still playing the game of underreporting? The risk and reward are simply not balanced. I really can't understand the logic of not declaring; it's just a few minutes' work. The tax authorities not taking action now doesn't mean they never will; you need to think this through. Honestly, for these borderline cases, I usually just play it safe and follow the official procedures to avoid future trouble.

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GasFeeLady

· 11h ago

honestly this reads like a masterclass in timing your moves right... like watching the mempool before you submit, you either declare or you eat the penalty. no in-between, no mempool tricks gonna save you here lol

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MevWhisperer

· 11h ago

Hmm, a 6% penalty for 400,000 HKD? Honestly, that's a bit unfair. Just declare it directly, and it's all settled. Customs aren't here to make things difficult.

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