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flatline
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Trinidad & Tobago MVT, VAT, CD and Transfer Fees

Postby flatline » January 3rd, 2005, 9:32 pm

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
April 2016 UPDATE: 50% increase in Duty and MVT for engine size exceeding 1999cc

---

Value Added Tax is payable at a rate of 12.5%. It is calculated in the following manner:

12.5% of the C.I.F. Value + Customs Duty + MVT = VAT Payable

---

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 1999 cc - 25%
* Vehicles with an engine size exceeding 1799 cc but not exceeding 1999 cc - 25%
* Vehicles with an engine size exceeding 2000 cc - 30%
April 2016 UPDATE: 50% increase in Duty and MVT for engine size exceeding 1999cc

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

New April 2016 MVT, Duty and VAT schedule
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Postby seanf3000 » January 4th, 2005, 12:13 am

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. :wink:

Now you see why 2litre and above is a killer!!!
Last edited by seanf3000 on June 28th, 2005, 12:28 pm, edited 1 time in total.

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Postby ~Vēġó~ » January 4th, 2005, 9:37 pm

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

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Postby seanf3000 » January 5th, 2005, 12:48 am

Good show uncle!!!

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flatline
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Postby flatline » January 5th, 2005, 12:55 am

thanx vega, and sean and rando

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Postby Greypatch » January 11th, 2005, 10:41 am

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..?

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

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Postby Greypatch » January 11th, 2005, 11:17 am

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

that's what wolfie said...

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

that's sean

which is correct as wolfie did not mention MVT being subject to VAT :?: :?: :?:

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Postby Wolfie » January 11th, 2005, 3:06 pm

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

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Postby Greypatch » January 11th, 2005, 3:27 pm

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

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Postby redras » January 12th, 2005, 4:04 am

robbers and them........ :evil:

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seanf3000
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Postby seanf3000 » January 28th, 2005, 1:43 pm

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.... :?

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Postby kerron01 » March 18th, 2005, 12:59 am

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

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Postby MBC Autotronix » March 19th, 2005, 9:50 pm

correct
Last edited by MBC Autotronix on July 3rd, 2006, 12:08 pm, edited 1 time in total.

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Postby DarkClouD » June 28th, 2005, 11:28 am

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?

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Postby seanf3000 » June 28th, 2005, 12:30 pm

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.

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Postby DarkClouD » June 28th, 2005, 1:05 pm

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...

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Postby seanf3000 » June 28th, 2005, 3:07 pm

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.

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Postby Toysport » October 14th, 2005, 5:48 am

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.

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Postby Yeo » October 14th, 2005, 6:55 am

MANIAC wrote:Vehicle Transfer Procedure

Transfers can only be done at Licensing Office.

Licensing OfficeWrightson Road, POSTele: 625-1031

1. Vehicle must be present.
2. Both parties must be present. Each party must have two pieces of ID.
3. Insurance policy for vehicle being bought.
4. Receipt for buyer.
5. Certified copy. (Not needed but carry just in case - fee for replacement = $20TTD).

6. Transfer fees.
Under 2 years $4010.00TTD
2-5 years $3000.00TTD
5-7 years $2000.00TTD
7-10 years $900.00TTD
Over 10 years $100.00TTD

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Postby achillies » November 3rd, 2005, 6:20 am

this is a good post mayn

look at wat the government makes on this shyt

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flatline
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Postby flatline » February 23rd, 2006, 11:40 am

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

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JWT
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Postby JWT » February 23rd, 2006, 9:40 pm

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

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seanf3000
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Postby seanf3000 » February 24th, 2006, 8:12 am

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

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Postby daymean » February 24th, 2006, 11:30 pm

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

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JWT
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Postby JWT » February 24th, 2006, 11:39 pm

amm
insurance high
conversion wrong
mvt lookin kinda right

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pete
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Postby pete » March 6th, 2006, 2:49 pm

Toysport wrote: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.


U sure it's not $1 per cc?

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sport20
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Postby sport20 » April 17th, 2006, 3:10 am

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?

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flatline
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Postby flatline » April 17th, 2006, 7:50 am

you'd need to give the engine size as well

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sport20
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Postby sport20 » April 17th, 2006, 4:07 pm

the engine size is 1.3l

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Postby DarkClouD » April 17th, 2006, 4:51 pm

sport20 wrote:the engine size is 1.3l


Is this an rx7 :D :D :D

Well Y2,000,000 is approximately USD17,096 which is TT$107,692

Now because its a 1.3L you pay no MVT

Take the CIF price (TTD$107,692) and multiply by 35% duty
= TT$145,384

Then add 15% VAT to $145384
= $167,192

So your landed price should be TT$167,192

I think I calculated it right.

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