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shaneo
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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

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

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

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

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

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

guess u dont know either thanks

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

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

thank u

firstchoicesolution
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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
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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
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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
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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
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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
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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
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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....?

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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
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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?

NR8
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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.

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Remark
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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
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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
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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?

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

Postby Ent » March 9th, 2020, 2:50 pm

Hey guys. I own a ford transit that i want to take to Trinidad. I tried doing the calculations for VAT, MVT, Duty and came up with USD 42,703. That can't be right !?! CIF is USD 16,000 and the engine is 3497cc. Can someone help me with these calculations?

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

Postby adnj » March 9th, 2020, 4:00 pm

It's probably closer to USD25,000. I don't know if the luxury tax is still in effect.

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

Postby Ent » March 9th, 2020, 8:34 pm

Look like i have to sell this van. I ain't paying 25,000 tax on a 16,000 vehicle. :|

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

Postby eKeith » March 10th, 2020, 7:26 am

Verify the calculations with your broker before you decide...

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

Postby swaggaduck » June 6th, 2020, 11:41 pm

Looking for recommendations for a reliable and trusted customs broker to handle the importation of a vehicle

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

Postby zcarz » February 28th, 2022, 3:09 am

flatline wrote:Trinidad & Tobago Motor Vehicle Tax, VAT, Customs Duty and Transfer Fees

Motor Vehicle Tax is normally payable at the following rates:

* engine size not exceeding 1599 cc = $3.75 per cc
* 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 +50%
* engine size exceeding 2499 cc but not exceeding 2999 cc = $25.00 per cc +50%
* engine size exceeding 2999 cc but not exceeding 3499 cc = $30.00 per cc +50%
* engine size exceeding 3499 cc ? $45.00 per cc +50%
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 - 30% +50%
* Vehicles with an engine size exceeding 2000 cc - 30% +50%
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.
----

For Vehicle TRANSFER FEES / CHANGE OWNERSHIP in Trinidad & Tobago click here

New April 2016 MVT, Duty and VAT schedule
Image

Morning is this still correct?
So for example I want to bring in a 2021 BMW 420i whose CIF value is 370,000TTD
The MVT is 2000x 21.50 = 43,000 Ttd x 1.5 = 64,500
VAT is 0.125 x 370,000= 46,250
Customs duty is 0.3 x 370,000= 111,000 x 1.5= 166,500
Total = 370,000+ 64,500 + 46,250 + 166,500
=647,250ttd
If so that is insane!!

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A172
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Re: Trinidad & Tobago MVT, VAT, CD and Transfer Fees

Postby A172 » February 28th, 2022, 7:46 am

the order is add duty, then mvt then vat

cannot calc the individual taxes separately then add, you have to pay each tax on the previous taxed value

$370k cif

43.75% duty = $161,875

Add back to $370k = $531,875

2000cc MVT = $28,125

Add back to $531,875 = $560k

VAT 12.5% of $560k = $70,000

Add back to $560k = $630k

Final figure $630k

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

Postby zcarz » February 28th, 2022, 9:55 am

A172 wrote:the order is add duty, then mvt then vat

cannot calc the individual taxes separately then add, you have to pay each tax on the previous taxed value

$370k cif

43.75% duty = $161,875

Add back to $370k = $531,875

2000cc MVT = $28,125

Add back to $531,875 = $560k

VAT 12.5% of $560k = $70,000

Add back to $560k = $630k

Final figure $630k

Thank you !!

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

Postby zcarz » March 1st, 2022, 5:14 am

Also just to understand, can I import a 7 year old double cab Ford ranger as it is a commercial vehicle and what are the rates or is it subject to the 3 year restriction? Thanks

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A172
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Re: Trinidad & Tobago MVT, VAT, CD and Transfer Fees

Postby A172 » March 1st, 2022, 8:46 am

7yrs limit, must buy the vehicle first before applying for the import lic if 7yrs

if 6 years u could get the lic first and then buy then vehicle after

must have a reg'd business and all supporting docs for commercial/goods use to apply for the lic

10% duty
$1.875 per cc
VAT

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worksux101
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Re: Trinidad & Tobago MVT, VAT, CD and Transfer Fees

Postby worksux101 » March 4th, 2022, 2:55 am

zcarz wrote:
flatline wrote:Trinidad & Tobago Motor Vehicle Tax, VAT, Customs Duty and Transfer Fees

Motor Vehicle Tax is normally payable at the following rates:

* engine size not exceeding 1599 cc = $3.75 per cc
* 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 +50%
* engine size exceeding 2499 cc but not exceeding 2999 cc = $25.00 per cc +50%
* engine size exceeding 2999 cc but not exceeding 3499 cc = $30.00 per cc +50%
* engine size exceeding 3499 cc ? $45.00 per cc +50%
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 - 30% +50%
* Vehicles with an engine size exceeding 2000 cc - 30% +50%
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.
----

For Vehicle TRANSFER FEES / CHANGE OWNERSHIP in Trinidad & Tobago click here

New April 2016 MVT, Duty and VAT schedule
Image

Morning is this still correct?
So for example I want to bring in a 2021 BMW 420i whose CIF value is 370,000TTD
The MVT is 2000x 21.50 = 43,000 Ttd x 1.5 = 64,500
VAT is 0.125 x 370,000= 46,250
Customs duty is 0.3 x 370,000= 111,000 x 1.5= 166,500
Total = 370,000+ 64,500 + 46,250 + 166,500
=647,250ttd
If so that is insane!!


Are these accurate?
Looking at a 2.7L. Trying to work out cost

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

Postby TTbago » May 16th, 2022, 1:15 pm

Hi where can I find the cost calculator or formula for an electric vehicle.

Thx

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