wazua Sat, Nov 30, 2024
Welcome Guest Search | Active Topics | Log In | Register

2 Pages12>
Importing a used car from Japan
Toxicity
#1 Posted : Thursday, May 06, 2010 10:45:12 AM
Rank: Member


Joined: 1/15/2010
Posts: 458
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
ajhsumar
#2 Posted : Thursday, May 06, 2010 12:41:48 PM
Rank: Member


Joined: 9/27/2009
Posts: 32
Location: Mombasa
U need to know the CRSP value of the car. If you can tell me what car it is and I can advice you.
Toxicity
#3 Posted : Thursday, May 06, 2010 2:10:15 PM
Rank: Member


Joined: 1/15/2010
Posts: 458
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
eddyz
#4 Posted : Thursday, May 06, 2010 3:47:35 PM
Rank: New-farer


Joined: 3/25/2010
Posts: 62
Location: Nairobi
CRSP=Current Retail Selling Price.

This is used by KRA to calculate the duty
Toxicity
#5 Posted : Thursday, May 06, 2010 4:17:05 PM
Rank: Member


Joined: 1/15/2010
Posts: 458
@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
JkMwatha
#6 Posted : Thursday, May 06, 2010 10:42:34 PM
Rank: Veteran


Joined: 9/11/2007
Posts: 816
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.
Toxicity
#7 Posted : Friday, May 07, 2010 8:20:05 AM
Rank: Member


Joined: 1/15/2010
Posts: 458
@JkMwatha...thanks for your informative information, how is the figure 109,500 reached at?
update president set president = speaker where president is null
JkMwatha
#8 Posted : Friday, May 07, 2010 4:01:39 PM
Rank: Veteran


Joined: 9/11/2007
Posts: 816
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
Toxicity
#9 Posted : Friday, May 07, 2010 7:25:17 PM
Rank: Member


Joined: 1/15/2010
Posts: 458
@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
jamplu
#10 Posted : Thursday, May 20, 2010 7:18:32 AM
Rank: Veteran


Joined: 3/25/2010
Posts: 939
Location: Nai
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.
Tebes
#11 Posted : Thursday, May 20, 2010 1:15:50 PM
Rank: Elder


Joined: 11/26/2008
Posts: 2,097
@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."
JkMwatha
#12 Posted : Friday, May 21, 2010 12:13:49 PM
Rank: Veteran


Joined: 9/11/2007
Posts: 816
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.
bartum
#13 Posted : Sunday, May 29, 2011 1:08:01 PM
Rank: Veteran


Joined: 8/11/2010
Posts: 1,011
Location: nairobi
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?
mukiha
#14 Posted : Monday, May 30, 2011 9:32:40 AM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
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.
mukiha
#15 Posted : Monday, May 30, 2011 9:35:51 AM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
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.xls

TAX CALC: http://www.revenue.go.ke...1/Valuation-template.xls
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
alikujia
#16 Posted : Tuesday, May 31, 2011 12:32:57 AM
Rank: Member


Joined: 5/27/2010
Posts: 324
Location: nrb
@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.

alikujia
#17 Posted : Tuesday, May 31, 2011 10:49:28 PM
Rank: Member


Joined: 5/27/2010
Posts: 324
Location: nrb
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.


Tebes
#18 Posted : Thursday, June 02, 2011 12:41:24 PM
Rank: Elder


Joined: 11/26/2008
Posts: 2,097
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."
alikujia
#19 Posted : Thursday, June 02, 2011 2:26:13 PM
Rank: Member


Joined: 5/27/2010
Posts: 324
Location: nrb
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?
JkMwatha
#20 Posted : Wednesday, June 08, 2011 3:30:33 PM
Rank: Veteran


Joined: 9/11/2007
Posts: 816
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)
Users browsing this topic
Guest (5)
2 Pages12>
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Copyright © 2024 Wazua.co.ke. All Rights Reserved.