FYI concerning returning residents and the importation of Motor Vevicles. Taken from the Customs & Excise Division website
http://www.customs.gov.tt/travelling/re ... -nationalsTAX CONCESSIONS GRANTED TO RETURNING NATIONALS
Returning to reside permanently in Trinidad & Tobago? Well, there is good news for you!!
In 1994, Government in an attempt to encourage nationals to return home took a decision to grant tax concessions on a motor vehicle and household effects imported by such persons. The following is a summary of benefits to which a returning national is entitled.
MOTOR VEHICLES(UNDER THE MOTOR VEHICLES AND ROAD TRAFFIC ACT CHAPTER 48:50 A "MOTOR CYCLE" IS CONSIDERED A MOTOR VEHICLE)
Requirements
In accordance with Section 45A of the Customs Act (Chap. 78:01) to qualify for any relief of taxes, the person must satisfy all of the following conditions:
i. The person must be eighteen(18)years old and over; and
ii. Is or was a citizen of Trinidad & Tobago;
iii. Has citizenship of two (2) countries, one of which is Trinidad & Tobago; or
iv. Is the spouse of a person referred to in sub-paragraphs (i) or (ii) above;
v. Has obtained from the Minister to whom responsibility for trade is assigned, a licence to import such vehicle in accordance with the Trade Ordinance;
vi. Must have resided abroad for a continuous period of at least five (5)years immediately prior to his return to Trinidad & Tobago;
vii. Intends to reside in Trinidad & Tobago permanently;
viii. The person acquired the motor vehicle abroad;
ix. The person is the registered owner of the vehicle prior to his return to Trinidad & Tobago and imports the motor vehicle six (6) months before orwithin one(1) year after his return to Trinidad and Tobago;
x. Requires the vehicle for his personal use;
xi. Provides proof of ownership of the motor vehicle;
xii. Must not sell or transfer the vehicle within two (2) years of its importation;
RELIEF FROM CUSTOMS DUTIES
In accordance with Section 45A(1) and (2) of the Customs Act (Chap. 78:01), the Returning National is entitled to full relief of Customs Duty.
RELIEF FROM VALUE ADDED TAX(VAT)
In accordance with Legal Notice No. 75 of 2013 the Returning National is entitled to full relief of Value Added Tax(VAT).
RELIEF FROM MOTOR VEHICLE TAX (MVT)
For the purposes of relief from Motor Vehicle Tax (MVT), the vehicle must be of a class or description as detailed in Item 1 in Part I Appendix A of the fourth Schedule of the Motor Vehicles and Road Traffic Act, Chapter 48:50 which is “private motor cars or rental cars, station wagons or estate wagons. In this regard, the Returning National receives full relief from Motor Vehicle Tax.
THE CONCESSION GRANTED TO A RETURNING NATIONAL FOR THE IMPORTATION OF A MOTOR VEHICLE IS A ONE(1) TIME FACILITY. IF THERE IS A TRANSFER OF OWNERSHIP OF THE MOTOR VEHICLE WITH IN TWO(2) YEARS OF THE DATE OF IMPORTATION THE RETURNING NATIONAL WILL THEN IMMEDIATELY PAY THE CUSTOMS DUTY WHICH WOULD HAVE BEEN PAYABLE HAD THE RELIEF NOT BEEN GRANTED.