Have you seen this in the news? I still don’t understand it completely. Why did Schwarzenegger have to declare the luxury watch. I travel to Europe quite often and I’m never asked to declare anything. Only when I am coming back to America. I don’t think Germany allows for dual citizenship unless that law changed.
Maybe this is because he was going to Auction off the watch in Austria, so then it goes from being a “personal watch” for himself to “selling goods” for profit? So, he had to declare it at the first point of entry into the EU? Someone must have alerted Customs to this.
He had to pay hefty fines: $38,000, including $4,000 tax value and approximately $5,000 penalty. The comedy in this, is that Custom’s credit card machine was not working. So, they brought Schwarzenegger to a bank, which was closed and he could not withdraw enough money due to withdrawal limits.
Curious, the value of the watch was $30,000, so he was paying more than the watch was worth? But then he was going to Auction it starting at 50,000 euros.
Luckily, Schwarzenegger had good humor. His mind immediately went to — GREAT COP MOVIE!
It would be funny to see a movie made out of this situation, with him as the main actor!! Did you know he is 76 years old now. Wow, getting close to 80.
Here is the YouTube video from the Today show.
Great movie idea. I’d go see it!