George Clooney Might Owe Over $100k in Taxes for Engagement Ring

George Clooney Might Owe Over $100k in Taxes for Engagement Ring

It seems as though our favorite Hollywood actor has gotten in some money problems with his recent engagement to Amal Alamuddin.  As we all know Clooney proposed with a gorgeous 7-carat emerald cut engagement ring. The sparkler cost an approximate $500,000 but the cost in taxes will be a little less than half of the ring cost!

According to HMRC rules any jewelry that is brought in from outside of the EU that costs more than £390 you have to pay significant amount of taxes. Allegedly Clooney will have to pay £93,577, which is approximately $157415.23 in US dollars.

One of George’s spokespersons said, “I have no idea of the validity of your story and I have no intention of even addressing it.” An HMRC spokesperson also gave a vague statement, “We do not discuss the affairs of individual customers.” He also stated, “Bringing in goods from outside the EU, whether in person or through the post, could attract customs duty or import VAT. Customers should check the current limits on the HMRC website.”

This story emerged after Alamuddin went through customs at Heathrow and didn’t pay the appropriate taxes. A similar situation happened to Victoria Beckham in 1998. The pop star was asked to pay £3,000 ($5046.60) when she failed to declare her £50000 engagement rings she bought for her and David Beckham in America.

Whatever the case is, we hope the taxes aren’t going to be that much money! Over $100k in taxes for an engagement ring is a bit drastic if you ask us! Good luck Georgey we hope it all ends in your favor!

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