Importing Car

Watchman · September 22, 2010

Hey guys,

Since we're on a new forum, thought of starting one of the FAQ threads we decided on last time around

So anyone up for importing a car from japan?

NFS · December 7, 2010

Is it possible to sell a car unregistered after bringing it down under personal name or company name? What would be the complications? Any Experience?

shanaka77 · January 20, 2011

On 9/22/2010 at 3:11 AM, Watchman said:

Hey guys,

Since we're on a new forum, thought of starting one of the FAQ threads we decided on last time around

So anyone up for importing a car from japan?

I have already opened an LC and the Japanese exporter said that he will be sending me the B/L soon. Please help me out with tht e next procedure? I still have not received the documents from the bank yet. Please kindly help me witht the custom clearance?

nissan_fan · January 20, 2011

On 12/7/2010 at 1:10 PM, NFS said:

Is it possible to sell a car unregistered after bringing it down under personal name or company name? What would be the complications? Any Experience?

Someone I know did the same. AFAIK, he has not faced any sort of trouble yet. Heard that person who bought the vehicle got registered w/o any trouble.

actyon23 · February 9, 2011

On 12/4/2010 at 3:09 PM, rangerover said:

Unless u have a blue permit or a gift permit, there is no way u can import a car older than 3.5 yrs old and vans older than 5 years.

please advice me can i bring Van manufactured in 01st month of 2006 thatmeans 5 years and one month old is it willbe a problem if I proceed with importing

waiting for advice

dinran · February 9, 2011

Acutually clearing part is very hard .

It is not that hard. Probably this the rumors coming from the car sale owners. I personally imported a car with the help of inter-mediator and charged Rs 150k (which is fair enough for the service given on bidding the vehicle I selected, getting "fairly priced" invoice, custom and harbor documentation and clearing process and finally a free clean-up and registration etc)

Came to Colombo only twice on this matter, first for taking VAT & TIN and then to hand over the docs to custom (just spent half a day) and second to drive the car from harbor gate to home.

thats it!

BLu3HaZe · February 9, 2011

On 2/9/2011 at 6:13 AM, actyon23 said:

please advice me can i bring Van manufactured in 01st month of 2006 thatmeans 5 years and one month old is it willbe a problem if I proceed with importing

waiting for advice

Depends on when it was first registered, if at the time of leaving the country it's not more than 5 years used, yes you can import it. If not, even a few weeks more wouldn't work afaik. So make sure it was registered atleast at the end of Feb 2006 to be on the safe side, and giving you time to get it exported from there.

dinran · February 9, 2011

On 1/20/2011 at 1:53 AM, shanaka77 said:

I have already opened an LC and the Japanese exporter said that he will be sending me the B/L soon. Please help me out with tht e next procedure? I still have not received the documents from the bank yet. Please kindly help me witht the custom clearance?

1. you should not open the LC for the exporters CIF value. If so, the custom duty will rip you off. Get the invoice nearly equal to the the "depreciated agent value"

2. need to remit the rest on b_a_k market, here worth the premium pay on the exchange rate than the extra amount of custom on the actual CIF value

3. the original docs will be received to the Bank, normally few days before the vessel comes, go to Inland Revenue with these documents and duly filled forms. (make sure the address and the name you given on both the invoice, BL and these forms are exactly the same, do not miss a single letter)

4. Handover the duly filled custom documents with VAT and TIN

5. I'd suggest you to get hold of a clearing agent to get the custom formalities done, it worth paying some thing than the hassle. this is the point where you need to pay the duty.

6. go to the harbor gate on the agreed date with your clearing agent and drive your dream car home!

actyon23 · February 9, 2011

On 2/9/2011 at 6:56 AM, BLu3HaZe said:

Depends on when it was first registered, if at the time of leaving the country it's not more than 5 years used, yes you can import it. If not, even a few weeks more wouldn't work afaik. So make sure it was registered atleast at the end of Feb 2006 to be on the safe side, and giving you time to get it exported from there.

the said vehicle is first registered in 2006 jan but my offer is a bargian price so even ata somecost can i import it isnt there any solution for this YOM and Registration both are 2006 JAN

Cheers

BLu3HaZe · February 9, 2011

On 2/9/2011 at 2:02 PM, actyon23 said:

the said vehicle is first registered in 2006 jan but my offer is a bargian price so even ata somecost can i import it isnt there any solution for this YOM and Registration both are 2006 JAN

AFAIK, now that it's more than 5 years old, you won't be able to import it here in any legit way. You could have one month ago, so think you'd have to give it up now.. Unless there are shady ways to show it's just less than 5 years

malinda02678 · March 5, 2011

i'm a newbie to the forum and it would be great if someone can answer my question.

-Say i'm going to import vehicle "X" which is 1st registered in NOV-2007 and is shipped from the exporting country on MAR-2011.

-Say that the agents valuation for a brand new "X" is CIF 200 ( C = 100 | I = 70 | F = 30 ).

-Say the tax for "X" in SL is 50% for the total CIF.

-Say that the my invoice value is below the agents value.

Since the car is 3-3.5years old and as per the depreciation table published on 22.11.2010 the total depreciation is 55%

Then my tax calculation would be:-

A = ( ( C * 55% ) + I + F ) * 50% Tax

A = ((100 * 55%) + 70 + 30) * 50% Tax

Total Tax amount = 77.5

Depreciation Table

Calculation of value of used motor vehicles

Tax Calculation

Is my calculation correct. I'm asking this just make sure of the calculation process in the customs website. Also I need to know what are the other charges other than the tax for the vehicle when clearing a vehicle, are there any container handling charges and all. Please enlighten me on this. hope this information helped anyone else too.

Thanks.

Watchman · March 5, 2011

Nov 2007 means its more than 3 years old. So you might have issues there to begin with since the limit is 3 years since first registration.

BLu3HaZe · March 5, 2011

Limit is 3.5 years afaik

makom · June 28, 2011

This is very informative thread. Thank all, I learn lots.

defendertdi · July 1, 2011

I heard that govt permitted to assemble JP used Vehicles here....

is that true.(we have to pay 15khs for Registration )

defendertdi · July 1, 2011

http://epaper.lankadeepa.lk/index.php?option=com_blog_calendar&&year=2011&month=06&day=29&modid=86

makom · July 22, 2011

On 2/9/2011 at 7:19 AM, dinran said:

1. you should not open the LC for the exporters CIF value. If so, the custom duty will rip you off. Get the invoice nearly equal to the the "depreciated agent value"

2. need to remit the rest on b_a_k market, here worth the premium pay on the exchange rate than the extra amount of custom on the actual CIF value

3. the original docs will be received to the Bank, normally few days before the vessel comes, go to Inland Revenue with these documents and duly filled forms. (make sure the address and the name you given on both the invoice, BL and these forms are exactly the same, do not miss a single letter)

4. Handover the duly filled custom documents with VAT and TIN

5. I'd suggest you to get hold of a clearing agent to get the custom formalities done, it worth paying some thing than the hassle. this is the point where you need to pay the duty.

6. go to the harbor gate on the agreed date with your clearing agent and drive your dream car home!

I heard that at least for permit holders, now need not to go to Inland Revenue, custom will do all.

monty · July 22, 2011

On 2/9/2011 at 7:19 AM, dinran said:

1. you should not open the LC for the exporters CIF value. If so, the custom duty will rip you off. Get the invoice nearly equal to the the "depreciated agent value"

2. need to remit the rest on b_a_k market, here worth the premium pay on the exchange rate than the extra amount of custom on the actual CIF value

3. the original docs will be received to the Bank, normally few days before the vessel comes, go to Inland Revenue with these documents and duly filled forms. (make sure the address and the name you given on both the invoice, BL and these forms are exactly the same, do not miss a single letter)

4. Handover the duly filled custom documents with VAT and TIN

5. I'd suggest you to get hold of a clearing agent to get the custom formalities done, it worth paying some thing than the hassle. this is the point where you need to pay the duty.

6. go to the harbor gate on the agreed date with your clearing agent and drive your dream car home!

How can we get to know the "depreciated agent value" for a vehicle we are going to import? Usually the agents do not let out the CIF price, do they? Recently I called up an agent and they refused to tell me the CIF Price of a vehicle. Also, I think the depreciation is calculated on the FOB price isn't it?. Need your advice guys.

cheers

monty

pug306xsi · July 28, 2011

Would be great if Someone who got a vehicle through a gift permit scheme let us know how to get the CIF value for the car to be imported ? Not from Japan though.

Thanks in advance.

Edited July 28, 2011 by pug306xsi

Kuhan James Thurairarasa · April 20, 2012

On 9/22/2010 at 3:11 AM, Watchman said:

Hey guys,

Since we're on a new forum, thought of starting one of the FAQ threads we decided on last time around

So anyone up for importing a car from japan?

I would love to but I really don't know how to so yea?

ShanTheBest · April 20, 2012

HI,

When get the bank certificate, is it required to get it from the bank which I opened the LC?

Damith87 · January 22, 2013

Hi all see this is valuable tread. I have a question, does anyone know how much is the custom calculation & how does it depend on the vehicle type ?

I mean tax amount differce on Prius / Allion. Does anyone know how much is it for SUVs & Cars etc

Bracket · May 5, 2014

On 9/29/2010 at 5:48 AM, jaga said:
If you are working in the private sector and pay income tax monthly from your salary, You may ask your employer to issue T 10 certificate.
If you have the T10 certificate, It is a real advantage in Inland Revenue dept and they will never question you. It was only 15 mints job for me to obtain TIN and VAT numbers since I had T10 document with me.

rgds

Guys is there any particular format to ths T-10 certificate? Or is this a letter issued by my employer certifying that I'm a PAYE taxpayer? If there is any particular format is it possible to find it here? http://www.ird.gov.lk/ I searched for the format, found PAYE T9 but there's no T10. Will I be able to find a sample somewhere? Should I fill any form or something?

Bracket · May 6, 2014

On 5/5/2014 at 4:14 PM, Bracket said:
Guys is there any particular format to ths T-10 certificate? Or is this a letter issued by my employer certifying that I'm a PAYE taxpayer? If there is any particular format is it possible to find it here? http://www.ird.gov.lk/ I searched for the format, found PAYE T9 but there's no T10. Will I be able to find a sample somewhere? Should I fill any form or something?

Nevermind guys found the form..