Hello there , how you doing. Am about to start importing car business in partnership with my family from abroad. We are new to importing car business . Could you pease tell me the amount of tax added for new and used cars? Including the transportation and insurance price too. Thank you so much for ur corporation .
Jan 16, 2021New cars(2021-2020) tax under 1300cc can have up to 85% tax between 1300cc and 1800cc can have upto 100%-105% tax and it will increase based on their cc Used cars that are more than 10 years old can have from 200%-500% tax it will increase based on the year it was made For example you buy vitz in dubai for 60,000br then when it reaches here it will be upto 500,000br then u will profit 50,000-100,000 br then you will sell the car for around 600,000br It has multiple taxes they are VAT Excise Tax Sure tax Witholding tax Insurance tax For more information it is better if you send me your username
Jan 17, 2021New cars are taxed high, if not more than, their actual price since they are considered luxurious goods. If it is tractors they are taxed relatively less. I am not sure the exact percentage of taxation tho
Jan 17, 2021