I bought a used motor car overseas (through auction). Will the purchase price of my car be used for assessment of import duties and other taxes?
26/05/16 at 9:48 am
The valuation principles for old/used/reconditioned motor cars are laid down in the Statutory Regulatory Order (SRO) no 149-Law/2013/2436/Cus, dated 06/07/2013. In the determination of value, issues such as the cylinder capacity, the year of manufacturing, model code, chassis no. etc. also play important role.
In the case of import of old/used/reconditioned motor cars and vehicles, the value for customs purposes will be calculated on the following bases:
(a)If imported from Japan, the value will be the average value based on all code models of vehicles in the updated Yellow Book published in Japan;
(b)If imported from any country other than Japan, the value will be the average value based on all code models of vehicles published in the updated Glass
[This is for informational purposes only. In case of contradiction of conflict with relevant Act/Rules, provisions mentioned
or referred to in the said Act/Rules shall prevail.]