SINGAPORE: The Singapore Customs is investigating a case where a man entering Singapore did not declare that he was in possession of assorted Pokemon trading cards worth more than S$30,000 in total.
The Immigrations and Checkpoints Authority said in a Facebook post on Tuesday (Oct 14) that its officers at Changi Airport had detected a large quantity of assorted Pokemon trading cards while screening baggage on Friday (Oct 10).
A 25-year-old Singaporean man had been directed to the baggage screening area in Terminal 1 for screening, ICA said. When questioned by ICA officers, the man said he had nothing in his luggage to declare.
ICA officers then screened the man’s luggage and found assorted Pokemon trading cards worth more than $30,000 in total.
The case was then referred to the Singapore Customs for further investigation, ICA said.
The Straits Times recently reported that Pokemon cards have made a comeback as niche investments, notably among young investors chasing returns that exceed traditional equities.
There has also been a global resurgence of interest in Pokemon trading cards in recent years.
Rare Pokemon cards have delivered a staggering 3,821 per cent return since 2004, far outpacing the S&P 500 index which gained 483 per cent over the same period, according to data from analytics firm Card Ladder.
In its Oct 14 post, ICA reminded travellers to declare and pay duty and GST on items purchased overseas that exceed the duty-free concession and GST relief.
Travellers who are not sure if they need to declare their items should declare at the Red Channel or at the Singapore Customs Tax Payment Office, ICA said.
The Singapore Government’s Factually website states that all goods brought into Singapore are subject to goods and services tax, currently pegged at 9 per cent. However, travellers are granted GST import relief based on the duration of their trip.
Those who have been overseas for 48 hours or more are entitled to GST relief of up to $500. For trips under 48 hours, the value is capped at $100. The GST rate is currently pegged at 9 per cent.
These amounts apply to the total value of goods bought overseas, excluding liquor and tobacco. Any value above the relief limit is taxable, and travellers are required to declare it upon or prior to arrival.
Singapore work permit, employment pass, student pass, dependent pass or long-term pass holders, as well as crew, are not entitled to GST import relief. - The Straits Times/ANN
