Before importing a car from Japan to the Caribbean, it is important to ensure that the vehicle is no older than six years since its manufacturing date. This is quite a relief to car exporters, because the previous law was stringent against cars older than six years old. This means that more people in the Caribbean can afford to import cars for their personal use. In this import guide, we set out to find what kind and how much tax you would have to pay if you were to import a used car to let’s say, Trinidad & Tobago, the Bahamas, Barbuda or Antigua.
Costs for Importing a Car to the Bahamas
As this information is often changing with new government regulations, please note that for the most updated information, it is best to check the websites mentioned below. We did however determine an estimate cost for importing a car to the Bahamas based on the intended use of the vehicle. The cost ranges from 35% to 75% of the total value of the vehicle. For example, a car that costs less than $10,000 will cost the importer 45% of the full value. A vehicle that costs between $10,000 and $20,000 involves an import duty of 50% while a car that costs above $20,000 to $25,000 involves an import duty of 65%. Above that, the duty is increased to 75%.
Left hand drive vehicles get the first preference. Stamp duty is seven percent and just so you know, there is no age restriction for imported second hand vehicles.
Cost for importing a car to Trinidad and Tobago
The laws and costs for importing a car to Trinidad and Tobago are very clear. For example, a car must not be older than four years. The costs to pay for the import include the duty and taxes, insurance, licensing fees and bond (for commercial importers).
A few years back, the customs duty for imported used vehicles is listed below:
• 30% for vehicles with engine size of not more than 2000cc
• 25% for vehicles with engine size of 1599cc but not exceeding 2000cc
• 20% for vehicles with engine size not exceeding 1599cc
There is some tax relief available that you should look into, like VAT. However, this is calculated as 15% of the full value of the vehicle. For nationals moving into the country with cars that they used in the other country, they will also get some tax relief.
Importing a car from Japan to Antigua and Barbuda
First, there is no age restriction for used car imports to Antigua and Barbuda. The import tax rates start at a VAT of 15% of the total value of the vehicle and the custom duty is utmost 60% depending on the CIF of the vehicle. Other taxes include environmental tax and excise duty.
For more information on how to import a car from Japan to the Caribbean, you will find it on the Japanese car exporters websites. The most important thing is to ensure that you get good value for your money. Find more information on used car import tax & duty to your country by contacting the revenue collection body because some countries charge tax on solid waste, environment fees, and so on, while some don’t.