Purchase Vehicle And Imporation Tax

[Uthum]

Assume I want to buy Toyota Hilux Double Cab 3.0L (YoM is 2007)

I was offered 2.85~2.9 Million Rupees value in Thailand.

Assume I want to buy Toyota Hilux Double Cab 3.0L (YoM is 2007)

According to the details in this link http://www.customs.gov.lk/hybrid.htm , if used period is more than 4 years and less than 4 1/2 year, Depreciation FOB value is 45%

Let me know my following calculation is correct?

Depreciated FOB value (used 4~4 1/2 year) = 45%

Value of Brand New Cab =36,200$

In Rupees =4,018,200 (say 4.0 million)

a. Then FOB value (4.0 x 45%) =1.8 million

b. Freight Charges =50,000 (assume)

c. Insurance Premium =25,000 (assume)

d. Cost for additional accessories* =100,000 (guess)

CIF value for computation of duty and other levies =a+b+c+d

(According to the Custom of Sri Lanka web site)

=1,975,000

Valuation of Accessories

A/C single or Dueal, Air bag, ABS, Alloy Wheel, Alum Body, Auto Transmission, CD Player, Center Locking, etc.....

Your price in Thailand is (say) = 2,900,000

Finally My Cab price will be ???? = 2,900,000 + 1,975,000

Rupees = 4,875,000

I have not been aware of these things previously. Having done some difficult search on the internet above conclusion is made. Please enlighten me on this regard and finally could you tell me the final price of said cab when I take it to my hand.

Experience friends your suggestion will be highly appreciated.

[makom]

It seems you are not correct, CIF value (1,975,000) need to multiple with some value to make your tax value.