I own a Toyota Landcruiser GXR V8 of 2016 model in Dubai and am interested in importing it into pakistan through the "Transfer of Residence" scheme. I read on the official FBR website that per month of age of vehicle there is a 1% deduction in duties/taxes up til maximum 60% deduction in duties and taxes, is this true? What sort of price range do you guys think this will fall in for total taxes that will be applied.
I do not think importing a vehicle over three years old is currently allowed under any scheme.
why would you want a LHD land cruiser in Pakistan?
SUV have limit of 5 years
he probably wants to do the math, a 2016 cruiser costs around 4 crore here, so if he can bring one in for around 2 or 2.5, still a bargain
2016 model Ax variant should cost around 1.75 to 2 crore max and zx variant cost arround 2.5 crore if you import now from japan. Due to covid prices in japan has dropped alot recently. I self imported mine 2013 model ax variant 4.5 grade in 2017 for 1 crore when dollar was 105. Rest you can do the calculations according to current rate of dollar.
Check the prices of the vehicles currently available.In 2017, a grande was for 26 lacs, today the same car is for 41 lacs.A lot has changed, devaluation, import rules, taxes, one too many factors
For cars (hatchbacks, Sedans, etc.), its 36 months from the year of manufacture.
For Jeeps, SUVs, etc. its 60 months from the year of manufacture.
but in the end its still a used LHD land cruiser. If I have that kind of dough, I would spend some more to get a proper newish RHD - export spec model which is also called GEM (General Export Model) - and live happily ever after,
Import duties or taxes havent changed much since 2017 just add 10% fed on locally manufactured cars. Prices have increase according to dollar. I.e In 2017 grande costed arround 25 lacs when dollar was 105RS and you calculate its price according to current rate of dollar that is 165 its price should be 40 lacs. Same is the way you can calculate the cost of other. + - 10%Importing cars have become a lot difficult due to paying custom duties through remittance certificate which have a added cost of arround 5% and a lot of hassle.
Importing a Landcruiser from dubai would not be a great idea as more or less it would cost you same if you import it from japan. Custom duties would be same if you import it from japan or UAE. LHD vehicle would be very hard to resell in pak market and will get a much lower price then a japanese landcruiser. Even though if you still want to import it from dubai then dont expect paying anything less then 1 crore in custom duties and you will also need to remit the duties payment amount to your account in pakistan from dubai otherwise your vehicle will not get cleared from customs in pakistan.
He is taking about the transfer of residence scheme, there is quite a bit of difference in that and direct import
But I think in case of Japan, price of vehicle + duties, taxes, etc. will be there, however, in this case, if he brings his SUV, then he will only have to pay duties and taxes only. He will not have to pay for the price of vehicle.
in both cases owner has paid for the car, in TR the car is already owned by person
He will obviously sale his car in dubai. And can then buy it from japan. Small Selling and buying differenece will always be there.
It dosent matter whichever scheme one choses to bring the car here. One needs to pay the same custom duties. All the cars which import in pak come under this scheme , direct import of cars is not allowed here. Only brandnew cars can be imported here legally by a authorised dealer.
I dont think TR is possible if you decide to buy a random car at the last minute, I beleive it was worded that you have to prove that you owned that specific car for at least 6 months prior to shipment, unless they changed it no.
I think it was a year or maybe two, and that is why their duty is much less than importing a random car.
Nope. The tr and gift scheme are different than the jap import, look into it
You're right, i just wanna know any number estimates. The FBR website states a rule about depreciation of duties per month of age of vehicle, this vehicle is 48 months old, and they stated per month 1% is deducted from duty price, so in theory that should mean i only have to pay half the amount of duty that will be put on the car. Lets say (for example) the duty put would initially be 75000 usd, with the deduction it would then be 39000 usd, that sounds like a bargain to me so i want verification if im doing my numbers right or if im missing some hidden fees that will shoot the extra charges up.