Calculations for the Importation of Motor Vehicles UNDER Four Years

The following serves as a guide for persons importing motor vehicles UNDER FOUR YEARS (from the date of manufacture to the date of importation).

Taxpayers are reminded that the Excise Tax Rates for “some” categories of motor vehicles under four years have been REDUCED. As such, the calculations provided are based on these rates. Additionally, the following are based on manufacture year of 2014 and a CIF Value of US$6,000:

Year: 2014
Estimated:  Cost, Insurance  Freight (CIF) Value: US$6,000.00 or G$1,239,000.00
Current Exchange Rate: 206.50

CATEGORY OF VEHICLES (CC)DUTIESEXCISE TAXVALUE ADDED TAX (VAT)FORMULA
Vehicles NOT exceeding 1500cc45%0%14%

Duty - 45% of CIF = US$2,700
Excise Tax - 0% of Duty + CIF = $0
VAT - 14% (CIF+Duties+Excise Tax) = US$1,218
Total taxes payable = (Duties + Excise Tax + VAT)
(US$2,700 + US$1,218)

TOTAL - US$3,918 OR G$809,067

     
Vehicles exceeding 1500cc up to 1800cc45%10%14%

Duty - 45% of CIF = US$2,700
Excise Tax - 10% of Duty + CIF = US$870
VAT - 14% (CIF+Duties+Excise Tax) = US$1,339.8
Total taxes payable = (Duties + Excise Tax + VAT)
(US$2,700 + US$870+ US$1,339.8)

TOTAL - US$4,909.8OR G$1,013,873.7

     
Vehicles exceeding 1800cc up to 2000cc45%10%14%

Duty - 45% of CIF = US$2,700
Excise Tax - 10% of Duty + CIF = US$870
VAT - 14% (CIF+Duties+Excise Tax) = US$1,339.8
Total taxes payable = (Duties + Excise Tax + VAT)
(US$2,700 + US$870+ US$1,339.8)

TOTAL - US$4,909.8OR G$1,013,873.7

     
Vehicles exceeding 2000cc up to 3000cc45%110%14%

Duty - 45% of CIF = US$2,700
Excise Tax - 110% of Duty + CIF = US$9,570
VAT - 14% (CIF+Duties+Excise Tax) = US$2,557.8
Total taxes payable = (Duties + Excise Tax + VAT)
(US$2,700+ US$9,570+ US$2,557.8)

TOTAL - US$14,827.8 OR G$3,061,940.7

     
Vehicles exceeding 3000cc

 

45%

 

140%

 

14%

Duty - 45% of CIF = US$2,700
Excise Tax - 140% of Duty + CIF = US$12,180
VAT - 14% (CIF+Duties+Excise Tax) = US$2,923.2
Total taxes payable = (Duties + Excise Tax + VAT)
(US$2,700+ US$12,180+ US$2,923.2)

TOTAL - US$17,803.2 OR G$3,676,360.8