Honda Stream

[D-Devil]

I saw a Honda Stream 2007 1.8l engine for 10,000USD FOB in Japan on an online site.

Please advice me if the duty calculation below is wrong

FOB value = 10,000 USD

Shipping and Handling = 1,160 USD

CIF = 11,160 USD

Depreciated FOB value at (60%) = 10,000*60% = 6,000 USD

(Dep.Value is taken at 60% as it is 3 years old and as it is a commercial vehicle)

Custom's taxable value = Dep.FOB value+ S&H = 6,000+1,160 = 7,160 USD

Customs tax @ 156% (as it has a 1799cc engine = 7,170*156% = 11,185.2 USD

Total Value = 18,345.2 USD

Total Value in LKR = 18,345.2*114 = 2,091,352.80

If the price is around 2.1 mil, it seems to be the best deal in the market. what are your thoughts guys?

[harshansenadhir]

I saw a Honda Stream 2007 1.8l engine for 10,000USD FOB in Japan on an online site.

Please advice me if the duty calculation below is wrong

FOB value = 10,000 USD

Shipping and Handling = 1,160 USD

CIF = 11,160 USD

Depreciated FOB value at (60%) = 10,000*60% = 6,000 USD

(Dep.Value is taken at 60% as it is 3 years old and as it is a commercial vehicle)

Custom's taxable value = Dep.FOB value+ S&H = 6,000+1,160 = 7,160 USD

Customs tax @ 156% (as it has a 1799cc engine = 7,170*156% = 11,185.2 USD

Total Value = 18,345.2 USD

Total Value in LKR = 18,345.2*114 = 2,091,352.80

If the price is around 2.1 mil, it seems to be the best deal in the market. what are your thoughts guys?

are you sure on the term commercial vehicle? it's a MPV and hence a passenger vehicle.

[rayaz]

are you sure on the term commercial vehicle? it's a MPV and hence a passenger vehicle.

Working on getting the same, and yes the calculations are wrong

1. Its not a commercial vehicle as it gets classified as a WAGON, so a 2007 model will have 70% tax

2. The tax is not based on the purchase price, but on the agent market value which is over 1.8Mil YEN for the car (i checked with stafford)

3. Base versions 1.8X is nothing great, the RSZ is the spec to get, but prices are over 14-15,000$ for that

Total values are closer to 4.5mil if you import directly, through a vendor don't bother!!

E.g.

FOB price - 1.3-1.5 mill YEN

CIF price - 1.5-1.8Mil YEN

TAX - 1.7Mil YEN @ 70-75% aging * 155 for 1.8L capacity - 1.9-2Mil YEN

TOTAL before clearance is around 3.8-4mil YEN

Local cost around 4.4-4.6 depending on custom clearance..

Still a very darn good vehicle, shame that the local market is all TOYOTA TOYOTA TOYOTA... and that too allion and axio.... people are just now looking at far more cooler and great models.

[isurujosh]

Working on getting the same, and yes the calculations are wrong

1. Its not a commercial vehicle as it gets classified as a WAGON, so a 2007 model will have 70% tax

2. The tax is not based on the purchase price, but on the agent market value which is over 1.8Mil YEN for the car (i checked with stafford)

3. Base versions 1.8X is nothing great, the RSZ is the spec to get, but prices are over 14-15,000$ for that

Total values are closer to 4.5mil if you import directly, through a vendor don't bother!!

E.g.

FOB price - 1.3-1.5 mill YEN

CIF price - 1.5-1.8Mil YEN

TAX - 1.7Mil YEN @ 70-75% aging * 155 for 1.8L capacity - 1.9-2Mil YEN

TOTAL before clearance is around 3.8-4mil YEN

Local cost around 4.4-4.6 depending on custom clearance..

Still a very darn good vehicle, shame that the local market is all TOYOTA TOYOTA TOYOTA... and that too allion and axio.... people are just now looking at far more cooler and great models.

imagine dude if this model were in great demand what the price would have been.