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Procedure for Importing a Vehicle

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Immortal24
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Procedure for Importing a Vehicle

Postby Immortal24 » May 20th, 2014, 2:39 pm

Good Day,

Can anyone say what's the procedure on importing a vehicle on your own as well as the related charges ?

What is the Current Motor Vehicle Tax based on CC rating, Customs Duty, Import Vat, Brokerage Fee etc ?

Thanks !

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Jet
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Re: Procedure for Importing a Vehicle

Postby Jet » May 20th, 2014, 2:49 pm

Wa vehicle u intrested in importing

Immortal24
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Re: Procedure for Importing a Vehicle

Postby Immortal24 » May 20th, 2014, 2:50 pm

Looking at the Toyota Altis
CIF approx US$7,000 and 1,500 CC

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Jet
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Re: Procedure for Importing a Vehicle

Postby Jet » May 20th, 2014, 2:53 pm

That will cost you
$80675.00 license on the road.
Where u see the vehicle sbt japan kobe motors or icm Japanese
Last edited by Jet on May 20th, 2014, 2:55 pm, edited 1 time in total.

Immortal24
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Re: Procedure for Importing a Vehicle

Postby Immortal24 » May 20th, 2014, 2:54 pm

Do you have the breakdown of the cost

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Jet
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Re: Procedure for Importing a Vehicle

Postby Jet » May 20th, 2014, 8:53 pm

Approx figures
$45k TT for the vehicle
Balance is mvt import duties and licenses the vehicle an buy plates

REQUIRED DOCUMENTS

Customs Declaration Form
(C82 Form) x four copies
CARICOM Area Invoice Supplier’s Invoice Bill of Lading
Import Licence
Certificate of Origin
Deregistration CertificateT&T Passport, D.P., I.D. B.I.R. No.

simply fill out the Import Licence form as soon as you can and submit to the Trade Licence Unit.. Once you fill in the application and make two copies, they will ask you For your ID. You will then be given the original and copies stamped which you will need later to receive your Import Licence. Taking your Import License along with the other REQUIRED DOCUMENTS to the Customs and Excise Office. Submit your four (4) copies of C82 Form (Customs Declaration Form) with the supporting documents to the Customs Officer for review. The officer will sign a copy of the C82 Form and give you an Assessment on how much duty and taxes you must pay. You will also be returned you other documents.Take the Assessment and C82 Forms to the Customs' Cashier and pay your dues. You will be given a receipt which you must present when clearing the vehicle along with the other documents you have used at the Import/Export Station. Once cleared, you can being the registration process as normal which includes passing roadworthiness tests.

NB YOU DO ALL THIS YOURSELF SAVES YOU ALOT OF MONEY AND SAVE YOU FROM ALL THE WANA BE IMPORTERS IT HAVE OUT THERE.

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Re: Procedure for Importing a Vehicle

Postby Eaton Guo » May 20th, 2014, 9:56 pm

Jet wrote:Approx figures
$45k TT for the vehicle
Balance is mvt import duties and licenses the vehicle an buy plates

REQUIRED DOCUMENTS

Customs Declaration Form
(C82 Form) x four copies
CARICOM Area Invoice Supplier’s Invoice Bill of Lading
Import Licence
Certificate of Origin
Deregistration CertificateT&T Passport, D.P., I.D. B.I.R. No.

simply fill out the Import Licence form as soon as you can and submit to the Trade Licence Unit.. Once you fill in the application and make two copies, they will ask you For your ID. You will then be given the original and copies stamped which you will need later to receive your Import Licence. Taking your Import License along with the other REQUIRED DOCUMENTS to the Customs and Excise Office. Submit your four (4) copies of C82 Form (Customs Declaration Form) with the supporting documents to the Customs Officer for review. The officer will sign a copy of the C82 Form and give you an Assessment on how much duty and taxes you must pay. You will also be returned you other documents.Take the Assessment and C82 Forms to the Customs' Cashier and pay your dues. You will be given a receipt which you must present when clearing the vehicle along with the other documents you have used at the Import/Export Station. Once cleared, you can being the registration process as normal which includes passing roadworthiness tests.

NB YOU DO ALL THIS YOURSELF SAVES YOU ALOT OF MONEY AND SAVE YOU FROM ALL THE WANA BE IMPORTERS IT HAVE OUT THERE.



thanks alot for posting this was browsing and saw it.
is there a specific formula u used to calculate the latter part involving mvt and engine tax.
Also how much would it cost to land something with a cif of 4000 and 990 cc

Immortal24
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Re: Procedure for Importing a Vehicle

Postby Immortal24 » May 20th, 2014, 11:03 pm

Thanks for your post. Want to confirm what's the current motor vehicle tax based on the CC ?
What is the duty based on the CC ?

Is the import vat calculated as ( CIF+ MVT + DUTY )*15 % ?
Or is the MVT left out of the equation ?

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Re: Procedure for Importing a Vehicle

Postby daxt0r » May 21st, 2014, 6:46 am

Yea i recently [on the ship now] bought a car that is en route to Trinidad for about USD $5500 CIF, can you provide a breakdown of cost i still have to pay please?

I see two formulas on 2nr not sure which is valid;

(CIFxDuty+(MVT)) x VAT
and
(CIFxDutyxVAT)+MVT

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Jet
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Re: Procedure for Importing a Vehicle

Postby Jet » May 21st, 2014, 8:27 am

Payment of mvt
Size of engine 1500cc x 3.75 whic is vehicle tax per cc so in your instanace you multiply 1500cc by $3.75
Mvt = $5625.00

Then you calculate the import duties and the tax.
After you add all 3 together mvt import duties and Vat and you will get the grand total in taxes will land you around $25k.

All them 3 fees paying through customs.

Immortal24
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Re: Procedure for Importing a Vehicle

Postby Immortal24 » May 21st, 2014, 8:36 am

Thanks Jet, that's all I wanted to clarify. So a simple example if you can verify my calculations would be as follows:

CIF :US$7,000 or TT$45,290.00
MVT for 1,500 CC - $5,625.00
Duty for a 1,500 CC = (25% * $45,290.00 ) = $11,322.50 - You need to confirm
Import Vat = ($45,290 + $5,625.00 + $11,322.50 ) * 15% = $9,335.63

Total cost of car excl brokerage fees = $71,573.13

Kindly confirm the above !
Duty

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Jet
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Re: Procedure for Importing a Vehicle

Postby Jet » May 21st, 2014, 11:37 am

The vat figure a little off but you on the right track. If you need a broker to clear any vehicle call dis guy naresh
326-0705

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knight
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Re: Procedure for Importing a Vehicle

Postby knight » May 21st, 2014, 2:49 pm

just curious why do you need a broker to clear a vehicle?
why can't an individual apply for his import license which is free get all is documents in order with monies and clear the vehicle himself?
what does a broker do differently that an individual can't?

Immortal24
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Re: Procedure for Importing a Vehicle

Postby Immortal24 » May 21st, 2014, 3:00 pm

The broker does not come into play to get your import license. That is done on your own.

The documents to clear the vehicle - bill of lading etc the broker handles together with the clearing of the vehicle. The broker usually has access to a "D" plate to clear vehicle from port.

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knight
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Re: Procedure for Importing a Vehicle

Postby knight » May 21st, 2014, 3:02 pm

how do an individual get access to a D plate to clear his own vehicle?
is this not possible?

Immortal24
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Re: Procedure for Importing a Vehicle

Postby Immortal24 » May 21st, 2014, 3:03 pm

Do you know anyone who you can borrow a D plate from ?

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knight
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Re: Procedure for Importing a Vehicle

Postby knight » May 21st, 2014, 3:04 pm

not really.
how much do a broker normally charge for their services?

Immortal24
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Re: Procedure for Importing a Vehicle

Postby Immortal24 » May 21st, 2014, 3:05 pm

All that just to get away from broker fees of $1000 which my broker already confirmed with me ?
Just pay de man and headache done.

He lodges all documentation at the port pays and clears the vehicle.

He stays at the port hin the hot sun however long it takes to clear ur vehicle. I don't think soon as you go you clear. You have to wait.

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knight
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Re: Procedure for Importing a Vehicle

Postby knight » May 21st, 2014, 3:06 pm

cool thanks.

Immortal24
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Re: Procedure for Importing a Vehicle

Postby Immortal24 » May 21st, 2014, 3:06 pm

Not sure what others charge though.

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ALIS
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Re: Procedure for Importing a Vehicle

Postby ALIS » May 22nd, 2014, 8:54 pm

A Toyota Altis?? From what market?

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ALIS
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Re: Procedure for Importing a Vehicle

Postby ALIS » May 22nd, 2014, 9:07 pm

We offer a service based on these kind of self imports:
We clear from port on arrival, register and make ready for delivery.
We use our brokers and our insured dealer plates!

Registration and license plates, insurance cover note and first service is included.

Inbox or call for details!

ALIS
www.facebook.com/automotivelogisticsTT
706-3007

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rane
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Re: Procedure for Importing a Vehicle

Postby rane » May 22nd, 2014, 10:07 pm

These importers hustling jed. :lol:

jaden
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Re: Procedure for Importing a Vehicle

Postby jaden » May 29th, 2014, 1:45 pm

as an individual importing a vehicle for personal use, you don't need to get a D plate, all you have to do is go to bankers insurance next to the licence office in POS and get a cover note on the chasis # of the vehicle, this will allow you to drive the vehicle off the port to home or to bureau of standards for tyre inspection and to licence office. if everything cant be done in 1 day you will need to get another cover note. I brought my own vehicle from ICM Japan recently so I know the procedure now.

prince 2424 your calculations is almost spot on, I got $71,875.00 because I used a conversion rate of 6.5

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knight
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Re: Procedure for Importing a Vehicle

Postby knight » May 29th, 2014, 1:50 pm

hey jaden you bought your vehicle directly from ICM Japan?
you had any problems with them?
others here seems to have issues with them?
who did you deal with?

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Mr.Bollywood
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Re: Procedure for Importing a Vehicle

Postby Mr.Bollywood » May 29th, 2014, 1:51 pm

hey guys, I've read through the thread and I'm interested in importing a 1971 Datsun 240z, can someone please give me an idea of the cost to import and register (first time car owner)
the cost of the car is around $3500USD

and I have read the rules of registering a car, as the 240z is over 30 years old, it is considered vintage and can be registered.

please any help will be greatly appreciated!! THANKS

Tech Guy
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Re: Procedure for Importing a Vehicle

Postby Tech Guy » May 29th, 2014, 2:33 pm

Good info I was looking for this info thanks.

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ryteclic
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Re: Procedure for Importing a Vehicle

Postby ryteclic » May 29th, 2014, 2:50 pm

This is a great post....Thanks guys

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Mr.Bollywood
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Re: Procedure for Importing a Vehicle

Postby Mr.Bollywood » May 29th, 2014, 4:07 pm

ryteclic wrote:This is a great post....Thanks guys


X2 did all my calculations THANKS GUYS!!!!

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Re: Procedure for Importing a Vehicle

Postby Tech Guy » May 29th, 2014, 8:03 pm

Hey what's the tax per cc for a 2000cc vehicle thank you

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