How To Calculate The Amount Of Duty On The Import Of A Car From Abroad

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How To Calculate The Amount Of Duty On The Import Of A Car From Abroad
How To Calculate The Amount Of Duty On The Import Of A Car From Abroad

Video: How To Calculate The Amount Of Duty On The Import Of A Car From Abroad

Video: How To Calculate The Amount Of Duty On The Import Of A Car From Abroad
Video: How To Calculate Import Duty and VAT 2024, December
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When buying a car abroad, it may turn out that customs duties will make such a purchase unprofitable. Therefore, before going abroad to purchase a car at a favorable cost, it is necessary to calculate the customs duty.

How to calculate the amount of duty on the import of a car from abroad
How to calculate the amount of duty on the import of a car from abroad

The difference in tariffs for "customs clearance"

There are several basic tariffs for customs clearance. So, the duty on the import of a car for a legal entity will be higher than for an individual. At the same time, you should not think that if you transport a car across the border as an ordinary citizen, and not as a representative of any company, then this clearly indicates that you are an individual. There is a restriction according to which individuals have the right to drive from abroad only one car per year.

If you decide to deliver two or more cars across the border within a year, you are automatically transferred to the category of legal entities, and as a result, importing a car will cost you more. In addition, it must be borne in mind that there is no difference whether you deliver the car by sea, by air, or cross the border driving a purchased foreign car. "Customs clearance" will have to go through in any case.

How the fee is calculated

The import duties on foreign cars were introduced in order to support the domestic manufacturer. That is, this is a kind of incentive for motorists to buy cars in our country, and not abroad. Therefore, in order to make it unprofitable for you to buy foreign cars abroad, the state has divided them into several categories:

- a car without a run;

- one to three years old;

- three to five years old;

- from five years of age and older.

The older the vehicle is, the higher the duty will be. In addition, the customs duties calculated for the import of a car will be the higher, the larger the engine capacity of the car. Thus, the final calculation is made based on the cost for which you purchased the car, the age of the vehicle and the volume of its engine.

For example, if you buy a car with a 1500 cc engine. cm, 2001 for $ 13,300, here the duty is 30% of the cost of the car, but not less than 1.35 euros per 1 cubic meter. cm of the volume of the power unit.

Calculation procedure:

1) 13300 x 30/100 = $ 3990;

2) 1500 x 1.35 x 1.02 = 2065.5 $, where 1.02 is the ratio of the euro to dollar exchange rate (changes almost daily);

3) the larger one is taken from the calculated indicators, in this case $ 3990.

Further, the size of the amount that will have to be paid for registration is considered: 13300 x 0, 1/100 = 13, 3 $, where 0, 1 is the interest rate (constant value).

After that, VAT is calculated:

1) 13300 + 3990 = 17290 $;

2) 17290 x 20/100 = $ 3458;

Thus, for customs clearance you have to pay $ 7461, 30 (3990 + 13, 3 + 3458 = 7461, 3).

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