Trinidad & Tobago MVT, VAT, CD and Transfer Fees

[Wolfie]

Motor Vehicle Tax is normally payable at the following rates:

* engine size not exceeding 1599 cc Free
* engine size exceeding 1599 cc but not exceeding 1799 cc ? $ 4.00 per cc
* engine size exceeding 1799 cc but not exceeding 1999 cc ? $ 8.00 per cc
* engine size exceeding 1999 cc but not exceeding 2499 cc ? $21.00 per cc
* engine size exceeding 2499 cc but not exceeding 2999 cc ? $25.00 per cc
* engine size exceeding 2999 cc but not exceeding 3499 cc ? $30.00 per cc
* engine size exceeding 3499 cc ? $45.00 per cc

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Value Added Tax is payable at a rate of 15%. It is calculated in the following manner:

15% of the C.I.F. Value + Customs Duty = VAT Payable

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Customs duty is normally payable at the following rates:

* Vehicles with an engine size not exceeding 1599 cubic capacity (cc)- 20%
* Vehicles with an engine size exceeding 1599 cc but not exceeding 2000 cc - 25%
* Vehicles with an engine size exceeding 2000 cc - 30%

Customs duty is based on the Cost, Insurance and Freight (C.I.F.) Value of the Vehicle.


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I believe several members were asking for these figures. Please sticky this mods, it's important and stuff.

[flatline]

thanx, and done..wait i can't sticky in here

[seanf3000]

Dont forget to include that you actually pay 75% of the calculated MVT.

For example......

a 1.8 Litre car pays 75% of $4.00 a cc for 1800cc

$4 a cc for 1800cc is $7200

75% of $7200 is $5400


Now.........add the MVT to the landed cost of the car in the port.

Good.....

Now calculate 35% of that value(MVT+landed cost). This is the duty payable.........

Good......

Now add that to the landed cost and MVT.

Good......

Now calculate 15% to that value(MVT+landed cost+Duty). This is VAT.........

Good.......

Now add that to the Landed cost, MVT and Duty.

Good.......

now add a few hundred for registration, weighing, plates and gas.

AND....you have what you pay for your car.

Now you see why 2litre and above is a killer!!!

[~˜VëgŲ˜~]

this is ting we need to know....leh meh sticky it fuh a lil while!

[seanf3000]

Good show uncle!!!

[flatline]

thanx vega, and sean and rando

[Greypatch]

Firstly excellent post wolfie and sean....

now look at this
HOW THE FACK can they Charge VAT on THE MVT & DUTY that is TAX ON TAX

What is the explanation for this ?

Extreme rubbish...VAT should only be applied to the Landed cost with MVT and Duty added on...


What the foreign used association doing about this..?

[Greypatch]

[Wolfie]

That's what i got word for word from an official document.

[Greypatch]

as per earlier post i found it was strange to vat a tax...

this makes a bit more sense..but ah still doh like how the applying VAT to The CUSTOMS DUTY

thx man...peace

[redras]

robbers and them........

[seanf3000]

Well when i calculated what my landed cost was against the japanese invoice...it worked with that calculation for me.

Also..if yuh ever use a skybox or imported electronics.....you'll see that VAT is charged on CIF cost plus duty.

I always use that calulation when biringing in stuff........always thought it was a pack of crap....

[kerron01]

HMMM Good stuff dude, thanks a lot!!!! Now I don't have to call ministry to find out.

[dadio]

correct

[DarkClouD]

Guys i have a question. Why does this information differ so much from the info found on the follow site:

http://www.asianstarmotors.com/taxes.html

Does anyone know which one is correct?

[seanf3000]

That info sounds correct....i had incorrectly put 25% duty when for a 1.8 it was suppsoed to be 35% duty,

But Asianstar has it correct.

[DarkClouD]

even the CC rating sean? You have for a 1800cc its 75% X $4/per cc whereas asianstar has it at 75% X $8/per cc...

[seanf3000]

Yeah...well actually they use the actual size of the engine. So my engine is 1794 cc according to the documents from Japan. Its termed a 1.8 just to round it out. It helps if you find out the exact displacement of the engine. So my "1.8" would be in the $4 a cc bracket.

Now here's something interesting. The usuall qg18de in the primera 1.8 is 1769 cc, thus $4 a cc in MVT. However the sr18de is 1838cc.....putting it in the $8 a cc range. Big difference.

But more than often a 1.6 is actually a lil less than 1600cc and a 1.8 is a lil less than 1800cc and so on.

[Toysport]

For motorcycles $100 per cc for licencing. I'm not sure what the duties are like on the bike itself. At the very least, its VAT.

[Yeo]

[achillies]

this is a good post mayn

look at wat the government makes on this shyt

[flatline]

just spoke to someone at a roro place and he gave me a simpler way to calculate the cost for a 2l vehicle. It's probably the same thing some of u all said in a wordier way. Got almost the same figure:

(FOB cost in yen /110) gets to US

+US$1400 for freight

x6.3 to get to TT$

x1.35 for duties

x1.15 for VAT

+TT$12000 for MVT

[JWT]

yeah he sues these figues so he could add money to d damn car
take it from me those figs wrong

[seanf3000]

But those figures looking right to me......except the frieght look kinda high.....but everything else looks correct.

[daymean]

yer..i think those figs right..ent??

[JWT]

amm
insurance high
conversion wrong
mvt lookin kinda right

[pete]

[sport20]

so guys help me out here.
let's say tha FOB of the car is 2,000,000 JPY
how much will it cost to put it on the road?

[flatline]

you'd need to give the engine size as well

[sport20]

the engine size is 1.3l