Duty Concession on Replacement Vehicles
Published 3rd November 2004, 11:40am
Businesses and individuals that are planning to import a vehicle to replace one that was destroyed by Hurricane Ivan are now eligible for a 10% import duty reduction rate, effective from 12 October 2004 - 30 June 2005.
Approval for eligibility must be sought from the Portfolio of Finance and Economics and applications must be submitted with a copy of your Driverís Licence and a copy of a Certificate of Termination from the Vehicle Licensing Department. Once approval has been given you can proceed to Customs and clear the vehicle at the discounted rate of duty.
It is intended that if individuals purchase vehicles locally, then these savings should be passed on to them from the car dealer in the form of a rebate.
To terminate a vehicle, the registered owner or a responsible person must surrender to the Vehicle Licensing Department (VLD), the logbook, licence coupon, licence plates and the certificate of insurance. Once the VLD clerk is satisfied with the documentation produced, the vehicle will be terminated. The registered owner will receive an official stamped receipt.
This official receipt will be proof that the vehicle has been terminated and should be presented to Customs in order to access the duty reduction rate on importation of replacement vehicles.
Individuals wishing to export or dispose of a car that has been terminated should complete an "Application to Export or Dispose of a Vehicle" form. Relevant parts of the form must be completed by Customs or Public Health. That health agency will certify that the vehicle has been disposed of satisfactorily.
Application forms for the import duty concession are available at the Glass House, Customís Department and major car dealerships.