Strong Eagle wrote:SaadCE wrote:Well, i guess i won't be importing if i'm going to end up paying something like £50000 when my car costs £12000.
Psssh!...
So i can't impot into Malaysia and drive over lol?
What do i do eh?
It's Singapore's answer, right or wrong, to controlling the traffic as found in KL, Bangkok, and so many other Asian cities.
You pay GST, registration tax, and additional registration tax no matter whether you import or buy. If you import, it's based upon the total costs... insurance, shipping, and OMV of the vehicle.
Then, you buy a COE, certificate of entitlement to drive it. It's an auction process. Last month a 10 year COE cost $34,000, payable up front.
The Honda Civic, that costs US$20,000 to buy in the US, will cost you S$70,000 to put on the road in Singapore when it's all said and done.
For an imported vehicle worth S$30,000 OMV, with insurance and shipping (and assuming engine larger than 1600 cc's):
a) Pay S$10,000 surcharge
b) GST @ 7% for S$2,100
c) Customs duty @ 20% for S$6,000
d) Pay additional registration fee of 110% for S$33,000
e) Pay COE which is S$43,000 for August (> 1600 cc).
f) Road tax (yearly) S$1,600 or more depending upon engine size
This adds up to about S$105,700 if you are importing a Merc worth S$30K and a 3 liter engine. This doesn't mention the inspection and documentation hassles you must overcome.
Do you get the feeling they don't want you to import?