TriniTuner.com  |  Latest Event:  

Forums

Trinidad & Tobago MVT, VAT, CD and Transfer Fees

Looking to Buy, Sell or Trade your vehicle? Post it here
Cars, Bikes, Trucks, Pickups, Vans, Boats, ATVs etc

Moderator: 3ne2nr Mods

Forum rules
• Negative comments or replies, lowballing or 'sale bashing' are NOT allowed in FS topics.
• Personal ads are FREE. Commercial Ads are not allowed without Powerseller Status. Posting items/property for rent is considered commercial.
• Powerseller status is for users who wish to post many items for sale, new or used.
• Even if you do not own a business but would like to post many items for sale, then Power Seller status is required.
• Users are limited to no more than 2 simultaneous Ads / FS (For Sale) topics per classified forum; powersellers are limited to no more than 4.
• Ads that have not been replied to after 180 days will be deleted.
Please click here to view the forum rules
shaneo
Posts: 0
Joined: August 16th, 2014, 9:41 pm

Re: Trinidad & Tobago MVT, VAT, CD and Transfer Fees

Postby shaneo » January 18th, 2019, 4:13 am

so a vehicles dat is 10000 us land trinidad engine size 2.5 wat would dat cost thanks

Advertisement
adnj
Riding on 17's
Posts: 1529
Joined: February 24th, 2014, 2:55 pm

Re: Trinidad & Tobago MVT, VAT, CD and Transfer Fees

Postby adnj » January 18th, 2019, 10:25 am

............

shaneo
Posts: 0
Joined: August 16th, 2014, 9:41 pm

Re: Trinidad & Tobago MVT, VAT, CD and Transfer Fees

Postby shaneo » January 18th, 2019, 5:09 pm

guess u dont know either thanks

adnj
Riding on 17's
Posts: 1529
Joined: February 24th, 2014, 2:55 pm

Re: Trinidad & Tobago MVT, VAT, CD and Transfer Fees

Postby adnj » January 18th, 2019, 7:07 pm

shaneo wrote:so a vehicles dat is 10000 us land trinidad engine size 2.5 wat would dat cost thanks
CIF US$10,000/TT$69,000
TT$124,050 to clear

shaneo
Posts: 0
Joined: August 16th, 2014, 9:41 pm

Re: Trinidad & Tobago MVT, VAT, CD and Transfer Fees

Postby shaneo » January 18th, 2019, 7:32 pm

thank u

firstchoicesolution
Posts: 0
Joined: November 28th, 2017, 5:35 pm

Re: Trinidad & Tobago MVT, VAT, CD and Transfer Fees

Postby firstchoicesolution » January 26th, 2019, 8:01 pm

If i want to bring down a vehicle :
1598cc
Can someone give me a breakdown of what the MVT rate is and how i can calculate it?

adnj
Riding on 17's
Posts: 1529
Joined: February 24th, 2014, 2:55 pm

Re: Trinidad & Tobago MVT, VAT, CD and Transfer Fees

Postby adnj » January 26th, 2019, 8:12 pm

firstchoicesolution wrote:If i want to bring down a vehicle :
1598cc
Can someone give me a breakdown of what the MVT rate is and how i can calculate it?
For a motor vehicle with an engine no larger than 1599 cc:

Duty is 25%
MVT is $5/cc
VAT is 12.5%

firstchoicesolution
Posts: 0
Joined: November 28th, 2017, 5:35 pm

Re: Trinidad & Tobago MVT, VAT, CD and Transfer Fees

Postby firstchoicesolution » January 26th, 2019, 8:16 pm

adnj wrote:
firstchoicesolution wrote:If i want to bring down a vehicle :
1598cc
Can someone give me a breakdown of what the MVT rate is and how i can calculate it?
For a motor vehicle with an engine no larger than 1599 cc:

Duty is 25%
MVT is $5/cc
VAT is 12.5%
Thanks a lot. So based on this, MVT will be 1598cc x $5= $7990?
Is there any % that needs to be calculated from this figure?

Also do u know of any sources where i can get the rates from? Any ministry websites or so?

Thanks for your help

firstchoicesolution
Posts: 0
Joined: November 28th, 2017, 5:35 pm

Re: Trinidad & Tobago MVT, VAT, CD and Transfer Fees

Postby firstchoicesolution » January 26th, 2019, 8:17 pm

* when i get $7990 as the MVT do i then have to calculate any %of this to find out how much MVT to pay?

adnj
Riding on 17's
Posts: 1529
Joined: February 24th, 2014, 2:55 pm

Re: Trinidad & Tobago MVT, VAT, CD and Transfer Fees

Postby adnj » January 26th, 2019, 9:48 pm

Your landed cost is CIF (cost/cargo, insurance, freight).

1598×5=MVT
CIF×0.25=Duty
(CIF+MVT+Duty)×0.125=VAT

To clear the cargo, you pay MVT+Duty+VAT

For a $60,000 1598 cc import:

CIF=60,000
MVT=1598×5=7,990
Duty=60,000×0.25=15,000
VAT=(60,000+7,990+15,000)×0.125=10,373.75

Total cost to clear is $33,363.75 plus registration, plates, inspection, etc.

firstchoicesolution
Posts: 0
Joined: November 28th, 2017, 5:35 pm

Re: Trinidad & Tobago MVT, VAT, CD and Transfer Fees

Postby firstchoicesolution » January 29th, 2019, 5:12 am

Greatly appreciate this! Thanks so very much!!!

ToyotaPower
Riding on 13's
Posts: 4
Joined: February 2nd, 2009, 11:26 pm

Re: Trinidad & Tobago MVT, VAT, CD and Transfer Fees

Postby ToyotaPower » February 7th, 2019, 9:30 pm

And if d same vehicle was hybrid, cif $7990 and 1598cc? The breakdown will be....?

User avatar
Strugglerzinc
punchin NOS
Posts: 3376
Joined: July 1st, 2005, 11:11 am
Location: Second star to the right.

Re: Trinidad & Tobago MVT, VAT, CD and Transfer Fees

Postby Strugglerzinc » March 23rd, 2019, 4:29 pm

Can anyone tell me MVT and Duty on 1998cc?

macd
Street 2NR
Posts: 32
Joined: December 30th, 2014, 3:10 pm

Re: Trinidad & Tobago MVT, VAT, CD and Transfer Fees

Postby macd » May 15th, 2019, 6:21 pm

Good day folks. Where online can I purchase a vehicle from Japan say a hybrid aqua and how do I calculate the final cost for road worthiness?

User avatar
NR8
Riding on 17's
Posts: 1588
Joined: January 14th, 2012, 2:20 pm

Re: Trinidad & Tobago MVT, VAT, CD and Transfer Fees

Postby NR8 » May 16th, 2019, 9:15 pm

SBT Japan is a good option. Refer to first page of thread for cost calculation.

User avatar
Remark
Riding on 13's
Posts: 9
Joined: March 27th, 2008, 2:21 pm

Re: Trinidad & Tobago MVT, VAT, CD and Transfer Fees

Postby Remark » June 1st, 2019, 4:08 pm

Is vat aplicable for hybrids under 1600cc?

adnj
Riding on 17's
Posts: 1529
Joined: February 24th, 2014, 2:55 pm

Re: Trinidad & Tobago MVT, VAT, CD and Transfer Fees

Postby adnj » June 3rd, 2019, 12:04 pm

"For the record, since December 2017, all new hybrid vehicles or used hybrid vehicles which are imported for private or commercial use, with an engine size not exceeding 1599 cc have been exempt from Customs Duty, Motor Vehicle Tax and Value Added Tax.”

“This tax-free concession on hybrid cars with engine sizes not exceeding 1599 cc, was implemented by way of the Finance Act No. 15 of 2017, assented to on December 19, 2017, and has not been adjusted or changed in any way, nor is it the intention of the Government to change this concession."

heshere2001
Street 2NR
Posts: 77
Joined: March 24th, 2007, 8:58 pm
Location: Arima

Re: Trinidad & Tobago MVT, VAT, CD and Transfer Fees

Postby heshere2001 » July 12th, 2019, 12:43 pm

Hi,

Can anyone advise on duties & taxes due on fully electric cars?

Advertisement

Return to “Car Classifieds - Buy, Sell or Trade”

Who is online

Users browsing this forum: Google Adsense [Bot], mitisubishiboi22, York and 13 guests