Import Tax Slashed By 50%

[Sri-Lak]

what is odo certificate? is this anything other than the auction certificate given? is the odo reading in auction certificate untrustworthy?

Not the same as auction sheet. This is from JAAI.

See below for a sample. If you import from Japan ask for one. To be on safer side you may want to ask for maintanence records too. Good traders provide.

Uploaded with ImageShack.us

[wrav003]

what is odo certificate? is this anything other than the auction certificate given? is the odo reading in auction certificate untrustworthy?

Hi, I am not a car importer just trying to get one for myself. So learning this on the go..It was not an auction car. Direct purchase from a user by a car dealer in Japan. So did a JEVIC before we purchased it. US$350 for this... This was checked by a friend of mine in Japan.

He told me its all genuine ODO and no accident history. Apparently if you even had a minor accident in Japan it will go in its record. or "kai" mark. And then my friend purchased it from the Japaneese dealer since he doesn't do L/C. So my mate had to open the L/C....He did a JAAI certificate and in the boat to SL now. Finally arriving on 10th Aug..after all the drama.

JAAI and JEVIC certificates are 100% trustworthy. But our dealers change the electronic ODOs after landing. Not everyone but some. Friend of mines cambelt failed at 40,000kms later on we checked that it had 145,000kms on it when it arrived to Colombo.

If you do this in Japan you will go to jail, but you can't do anything to the dealer here unless you are a thug:) which we aren't.

So if you are buying from a dealer ask for the JAAI ODO certificate. They will have it. And check the whether its genuine...

Edited July 4, 2010 by wrav003

[isurujosh]

thanks so much wrav003 and Sri-Lak for the information. does it mean that the following auction certificate alone is no guarantee of the quality and the odo meter reading of a vehicle?

[zerocool]

Hello all, Finally managed to make a post after reading Autolanka blog for more 6months. Specially this blog was very useful.

Just paid for a 2006 Toyota Hiace DX diesel for my supplier in Japan Yen1,850,000 (CIF) 54,000kms (yes got the ODO certificate,no damage or no kai mark)

According to my calculation Tax is going to be around 41laks. So final cost is around 64laks.

I just saw a 2005 hiace advertised in Autolanka for 50 laks . Any idea what went wrong with my purchase?

Thanks... ur thoughts are appreciated.

50% depreciated value given by Toyota for 2006 hiace is Yen 2,000,000

Hi...i'm just curious how you were able to import a 2006 vehicle. Can anyone import a vehicle with YOM 2006 or do you have a blue permit or something?

[rangerover]

I think vans are 5 years

[wrav003]

thanks so much wrav003 and Sri-Lak for the information. does it mean that the following auction certificate alone is no guarantee of the quality and the odo meter reading of a vehicle?

No, this does not guarantee ODO is genuine. Please refer following link;

http://www.j-cars.com/odometer1.php?PHPSES...e717eda4250c1d2

ODO fraud is usually carried out by local dealers after arrival as far as I have experience... Specially lorries imported by dealers got 50,000kms on board:)

You will have to to do a JAAI certificate before ordering which is guaranteed to be genuine as they check for tampering...

http://www.jaai.or.jp/jaaiimage/pdf/yushutu_e.pdf

Hope this helps...

[Fire Dragon1]

Just got this news

Source : http://www.dailymirror.lk/index.php/news/4...es-slashed.html

Hi Dear All,

I am new to this forum. But can provide vital information with regard to the vehicles.

As at present Toyota disel van KDH200,Allion NZT240,NZE141,Hilux MROGR,Smartcab MROHR costs between 3.2-3.4million.

This is the total CIF+Duties. I dont know how much each trader will keep.

Allion NZT260 costs between 4.2 to 4.3 mil.

Hilux MROHZ about 3.9-4.1 mil.

GD8 2million

KSP90 vitz 1.95mil.

KDY220 Toyota deisel truck 1.85 mil

VY11 nissan petrol car 1.7mil

Bongo/vannete 2.2-2.5mil

hope this information is helpful.

rgds.

Fire Dragon

[arunajn]

Hi Dear All,

I am new to this forum. But can provide vital information with regard to the vehicles.

As at present Toyota disel van KDH200,Allion NZT240,NZE141,Hilux MROGR,Smartcab MROHR costs between 3.2-3.4million.

This is the total CIF+Duties. I dont know how much each trader will keep.

Allion NZT260 costs between 4.2 to 4.3 mil.

Hilux MROHZ about 3.9-4.1 mil.

GD8 2million

KSP90 vitz 1.95mil.

KDY220 Toyota deisel truck 1.85 mil

VY11 nissan petrol car 1.7mil

Bongo/vannete 2.2-2.5mil

hope this information is helpful.

rgds.

Fire Dragon

Dear all,

I'm new to this forum. But I was with you more than 2 years as a guest.

Fire Dragon,

Do you know anybody who is importing for these prices?

[Watchman]

why do i smell something fishy coming around? ::

[Fire Dragon1]

Dear all,

I'm new to this forum. But I was with you more than 2 years as a guest.

Fire Dragon,

Do you know anybody who is importing for these prices?

All the importers are paying this amount.

In the real life scenario it should be lesser.

Bec duties are calculated on the agents value irrespective of the amount actually paid for the vehicle (If the amount paid is higer than the agents value then it is considered. But the importers rarely do).

If you yourself imports a vehicle the same rates will apply.

rgds.

Fire Dragon

[MkX]

why do i smell something fishy coming around? ::

[Pericles]

why do i smell something fishy coming around? ::

As far as I can determine so far, nope.

[hyacc]

Can someone please explain how "Depreciation table for the valuation of secondhand vehicles" and CIF/FOB price is used when calculating tax amount?

Thanks.

[Sri-Lak]

Can someone please explain how "Depreciation table for the valuation of secondhand vehicles" and CIF/FOB price is used when calculating tax amount?

Thanks.

Some information if you did not already come across it.

http://www.customs.gov.lk/news/VEHICLE.pdf

http://www.customs.gov.lk/mv/mvpg01.pdf

[hyacc]

Thanks Sri-Lak.

[wrav003]

Hi Dear All,

I am new to this forum. But can provide vital information with regard to the vehicles.

As at present Toyota disel van KDH200,Allion NZT240,NZE141,Hilux MROGR,Smartcab MROHR costs between 3.2-3.4million.

This is the total CIF+Duties. I dont know how much each trader will keep.

Allion NZT260 costs between 4.2 to 4.3 mil.

Hilux MROHZ about 3.9-4.1 mil.

GD8 2million

KSP90 vitz 1.95mil.

KDY220 Toyota deisel truck 1.85 mil

VY11 nissan petrol car 1.7mil

Bongo/vannete 2.2-2.5mil

hope this information is helpful.

rgds.

Fire Dragon

Hello Fire Dragon,

Where did you get these numbers? Sorry to tell you that they don't quite add up, since I am half way in the process of getting a 2006 Hiace KDH200. It will cost me 50+laks which i will know soon exactly. CIF for my van was 23laks since i didn't want a high k van which i could get for 12laks(200,000kms on the clock). still the tax will be 30+laks. depreciated value for a 2006 hiace is Yen2,000,000 give by T** lanka

Please let me know if my calculations are wrong...much appreciated.

Cheers

[Lalinda]

Hello Fire Dragon,

Where did you get these numbers? Sorry to tell you that they don't quite add up, since I am half way in the process of getting a 2006 Hiace KDH200. It will cost me 50+laks which i will know soon exactly. CIF for my van was 23laks since i didn't want a high k van which i could get for 12laks(200,000kms on the clock). still the tax will be 30+laks. depreciated value for a 2006 hiace is Yen2,000,000 give by T** lanka

Please let me know if my calculations are wrong...much appreciated.

Cheers

From what i have seen in tax calculation documents, agents dont give the depreciated value. They give a value for the model and then the custom applies the depreciation table on that before all taxes are calculated. This is usually the case.

[shanX]

why do i smell something fishy coming around? ::

lol,, it's all in the game

[isurujosh]

No, this does not guarantee ODO is genuine. Please refer following link;

http://www.j-cars.com/odometer1.php?PHPSES...e717eda4250c1d2

ODO fraud is usually carried out by local dealers after arrival as far as I have experience... Specially lorries imported by dealers got 50,000kms on board:)

You will have to to do a JAAI certificate before ordering which is guaranteed to be genuine as they check for tampering...

http://www.jaai.or.jp/jaaiimage/pdf/yushutu_e.pdf

Hope this helps...

thanks so much wrav003. you add lot of value to this thread:)

i was wondering if the most frequent place where odo fraud is taking place is after arrival in SL then this auction certificate that i assume is issued from japan should be a reasonably good measure of the odo. am i right?

[xXx]

thanks so much wrav003. you add lot of value to this thread:)

i was wondering if the most frequent place where odo fraud is taking place is after arrival in SL then this auction certificate that i assume is issued from japan should be a reasonably good measure of the odo. am i right?

Isuru you are correct auction certificate is good enough indication as proof of the state of the car. All the other fance literature come at an aditional cost. If the buyer is willing to bear all thoes costs i'm sure the importers will be happy to get them for you. Now lets see who will be willing to pay extra Rs. 50k for these certificates?

[xXx]

Fire Dragon,

Do you know anybody who is importing for these prices?

That'll be the million dollar question????

[manjulaperera]

guys please wait for another three months ,dont buy the vehicle of your choice now, prices will go down once the new shipments from japan arrives

[Fire Dragon1]

That'll be the million dollar question????

Anybody who has imported a vehicle after 01/06/2010 would have paid for the new tariff rate.

Go to any seller, ask for the customs declaration for which you have a right to veryfy proper duties have been paid.

In the cage 46 of the declaration you will find the value (CIF) in sri lankan currencies.

Cage 47 will contain the total duties paid.

If you add these two you will find the total cost of the vehicle.

Just bear in mind that the customs declaration has to be later than 01/06/2010.

Check the last sundays hit add. It contained some importer name importing at this rate.

rgds.

Fire Dragon

[Fire Dragon1]

Hello Fire Dragon,

Where did you get these numbers? Sorry to tell you that they don't quite add up, since I am half way in the process of getting a 2006 Hiace KDH200. It will cost me 50+laks which i will know soon exactly. CIF for my van was 23laks since i didn't want a high k van which i could get for 12laks(200,000kms on the clock). still the tax will be 30+laks. depreciated value for a 2006 hiace is Yen2,000,000 give by T** lanka

Please let me know if my calculations are wrong...much appreciated.

Cheers

Since your vehicle is a 2006 one you are entitled for a full depriciation which is 50%. So your value will be around 1 million yen. You will have to add around 60000 yen for freight and another 15000 yen for the insurance. I dont know about your options. If auto you will have to add around 50000 yen. So you will arrive at the total CIF value of 1.25million yen. Multiply this by the exchange rate which changes. let us say it is 1.2363. Then you can arrive at the CIF in sri lankan currencies which is 1545375 rupees. Duties will be imposed on this. If the value is around 1,200,000 rupees the CID at 30% 380000, PAL at 5% 65000, XID at 32% 770000, VAT at 20% 530000, NBT at 3% 78000, RDL at 5% 150000, SRL at 1.5% 17000. Add these and you will arrive at the total duties (approx). Hope this is helpful. The HS code should be 87042191 (pl chk).

Hope this is helpful.

Fire Dragon

[wrav003]

Since your vehicle is a 2006 one you are entitled for a full depriciation which is 50%. So your value will be around 1 million yen. You will have to add around 60000 yen for freight and another 15000 yen for the insurance. I dont know about your options. If auto you will have to add around 50000 yen. So you will arrive at the total CIF value of 1.25million yen. Multiply this by the exchange rate which changes. let us say it is 1.2363. Then you can arrive at the CIF in sri lankan currencies which is 1545375 rupees. Duties will be imposed on this. If the value is around 1,200,000 rupees the CID at 30% 380000, PAL at 5% 65000, XID at 32% 770000, VAT at 20% 530000, NBT at 3% 78000, RDL at 5% 150000, SRL at 1.5% 17000. Add these and you will arrive at the total duties (approx). Hope this is helpful. The HS code should be 87042191 (pl chk).

Hope this is helpful.

Fire Dragon

Thanks Fire Dragon, BUT

The issue is 2,000,000yen was the depreciated valve. (50%)off. The toyota valuation is 4,000,000yen for a basic Hiace which make sense as a brand new in Hiace in Japan is around US$35,000.

I paid yen1,850,000 (23laks Rs) as the CIF value (Cost of car,shipping and insuarance and JAAI).

I will let you know my total cost early next month with a breakdown .. asked my clearing agent Hez confussed too, yet to clear any cars under new system.

I asked T** l**a last year how much a hiace cost and the answer was 11+million