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Importing a used car from Japan
Rank: Member Joined: 1/15/2010 Posts: 458
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Hey great wazurians...i want to start the process of importing a car from Japan.. the total cost of the said vehicle is 5,400 USD i.e. C & F price. Those of you who understand the taxation, what will be the amount to pay once the car lands in Mombasa? update president set president = speaker where president is null
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Rank: Member Joined: 9/27/2009 Posts: 32 Location: Mombasa
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U need to know the CRSP value of the car. If you can tell me what car it is and I can advice you.
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Rank: Member Joined: 1/15/2010 Posts: 458
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sorry for my ignorance but what does CRSP mean? anyway the other information is as follows CIF Price: 5,400 USD FOB Price: 4,600 USD The car is a Toyota IST. update president set president = speaker where president is null
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Rank: New-farer Joined: 3/25/2010 Posts: 62 Location: Nairobi
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CRSP=Current Retail Selling Price.
This is used by KRA to calculate the duty
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Rank: Member Joined: 1/15/2010 Posts: 458
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@ajhsumar are you sure that KRA uses the CRSP price to calculate duty? As the Price of the vehicle as i have downloaded the CRSP form and for an IST is about kshs 1,035,000. @eddyz thanks for enlightening the ignorance out of I. update president set president = speaker where president is null
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Rank: Veteran Joined: 9/11/2007 Posts: 816
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Toxicity wrote:@ajhsumar are you sure that KRA uses the CRSP price to calculate duty? As the Price of the vehicle as i have downloaded the CRSP form and for an IST is about kshs 1,035,000. @eddyz thanks for enlightening the ignorance out of I. Yes CRSP is used to calculate... So if your car is ksh 1,035,000 then duty will be ksh109,500 assuming 1st registration date is Jan-May 2003.
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Rank: Member Joined: 1/15/2010 Posts: 458
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@JkMwatha...thanks for your informative information, how is the figure 109,500 reached at? update president set president = speaker where president is null
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Rank: Veteran Joined: 9/11/2007 Posts: 816
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Toxicity wrote:@JkMwatha...thanks for your informative information, how is the figure 109,500 reached at?
Its complex but it calculates something like this CRSP.................1,035,000.00 Depreciation..70%... (for 2003 model) Customs value............142,759 Import Duty 25%...........35,690 Excise Value.............178,448 Excise Duty 20%...........35,690 VAT Value................214,138 VAT 16%...................34,262 Total Taxes..............105,641 IDF Fees...................3,926 Total 109,567
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Rank: Member Joined: 1/15/2010 Posts: 458
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@jkmwatha, thank you very very much, now i have an idea of how much i need to have before the car arrives at mombasa.....any one there with someone who can assist in the clearing process? update president set president = speaker where president is null
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Rank: Veteran Joined: 3/25/2010 Posts: 939 Location: Nai
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Toxicity wrote:@jkmwatha, thank you very very much, now i have an idea of how much i need to have before the car arrives at mombasa.....any one there with someone who can assist in the clearing process? You can talk to Lule he's a good clearing agent. He did good job for me. His number is 0720 731582. Tell him you were reffered by Kim if you need more info let me know.
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Rank: Elder Joined: 11/26/2008 Posts: 2,097
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@JKmwatha, How do you get the customs value, do you depreciate CRSP before removing taxation and mark-up or after? "Never regret, if its good, its wonderful. If its bad, its experience."
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Rank: Veteran Joined: 9/11/2007 Posts: 816
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Tebes wrote:@JKmwatha, How do you get the customs value, do you depreciate CRSP before removing taxation and mark-up or after? @Tebes the custom value is the value after depreciation The total taxes are as follows Import duty : CIF price x 25% Excise duty : (CIF price + Import duty) x 20% VAT : (CIF price + Import duty + Excise duty) x 16%Thats how you get the final figure. Does it make sense? I get the feeling KRA try to make it as complicated as possible.
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Rank: Veteran Joined: 8/11/2010 Posts: 1,011 Location: nairobi
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Tebes wrote:@JKmwatha, How do you get the customs value, do you depreciate CRSP before removing taxation and mark-up or after? nissan ad van for fob $1100 in japan. How is it?
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Rank: Elder Joined: 6/27/2008 Posts: 4,114
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JkMwatha wrote:Tebes wrote:@JKmwatha, How do you get the customs value, do you depreciate CRSP before removing taxation and mark-up or after? @Tebes the custom value is the value after depreciation The total taxes are as follows Import duty : CIF price x 25% Excise duty : (CIF price + Import duty) x 20% VAT : (CIF price + Import duty + Excise duty) x 16%Thats how you get the final figure. Does it make sense? I get the feeling KRA try to make it as complicated as possible. Actually, they try to make it as FAIR as possible... then the calculation becomes complicated. Fair because, the depreciation is done after the taxes in the CRSP are removed - that avoids double taxation. Thus the procedure is: 1] Determine CRSP 2] Remove import duty and tax component from CRSP to get the Current C&F value 3] Depreciate the current C&F value by 10% per year to get the taxable C&F value 4] Use the taxable C&F value to calculate the taxes - the taxes are compounded on each other as required by the law [not a KRA rule] Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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Rank: Elder Joined: 6/27/2008 Posts: 4,114
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bartum wrote:Tebes wrote:@JKmwatha, How do you get the customs value, do you depreciate CRSP before removing taxation and mark-up or after? nissan ad van for fob $1100 in japan. How is it? @bartum; the price you pay for the car does NOT come into the equation! Down load this Excel calculator and work it out for yourself: CRPS: www.revenue.go.ke/notice...df2011/CRSP-JAN-2011.xlsTAX CALC: http://www.revenue.go.ke...1/Valuation-template.xlsNothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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Rank: Member Joined: 5/27/2010 Posts: 324 Location: nrb
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@mukiha, jkmwatha, Need some help:
There doesnt seem to be CRSP for older car models. Is it really correct that, for instance a Rav4 1999 which has different engine and chasis details is charged current Rav4 model CRSP?
Not an expert in these matters but I would think those two details would be what distinguishes two models from same manufacturer?
this is for payment of previously exempted vehicle.
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Rank: Member Joined: 5/27/2010 Posts: 324 Location: nrb
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alikujia wrote:@mukiha, jkmwatha, Need some help:
There doesnt seem to be CRSP for older car models. Is it really correct that, for instance a Rav4 1999 which has different engine and chasis details is charged current Rav4 model CRSP?
Not an expert in these matters but I would think those two details would be what distinguishes two models from same manufacturer?
this is for payment of previously exempted vehicle.
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Rank: Elder Joined: 11/26/2008 Posts: 2,097
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alikujia wrote:@mukiha, jkmwatha, Need some help:
There doesnt seem to be CRSP for older car models. Is it really correct that, for instance a Rav4 1999 which has different engine and chasis details is charged current Rav4 model CRSP?
Not an expert in these matters but I would think those two details would be what distinguishes two models from same manufacturer?
this is for payment of previously exempted vehicle.
1999 models will not be accepted(8year age rule). Neither will those of 2000-2003. Choose from 2004. "Never regret, if its good, its wonderful. If its bad, its experience."
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Rank: Member Joined: 5/27/2010 Posts: 324 Location: nrb
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Tebes wrote:alikujia wrote:@mukiha, jkmwatha, Need some help:
There doesnt seem to be CRSP for older car models. Is it really correct that, for instance a Rav4 1999 which has different engine and chasis details is charged current Rav4 model CRSP?
Not an expert in these matters but I would think those two details would be what distinguishes two models from same manufacturer?
this is for payment of previously exempted vehicle.
1999 models will not be accepted(8year age rule). Neither will those of 2000-2003. Choose from 2004. Thanks@Tebes, But as per my last paragraph, needed info is for duty pay for a vehicle already registered locally duty had been officially exempted. The duty is being paid now because of change of ownership. Question is: which crsp to use? current rav4? which i believe has much higher figure compared to the old type?
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Rank: Veteran Joined: 9/11/2007 Posts: 816
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alikujia wrote:.......
being paid now because of change of ownership. Question is: which crsp to use? current rav4? which i believe has much higher figure compared to the old type? In essence CRSP indicates Current Retail... If you import a 2004 Rav4, the CRSP used is for the newer shape (2006 onwards).... As for your previously imported Rav4, I believe the same will apply but just further devalued... according to number years... Does that make sense? (My opinion... not authoritative)
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