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importing a car fro the UK

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akeelm
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importing a car fro the UK

Postby akeelm » Fri, 17 May 2013 11:52 pm

Hi all,

Apologies if a similar topic has already been posted. However, i was unable to find anything suitable that matches.
I am moving to Singapore in September and wanted to know if it's worth me freighting my car? It's only 1 year and hence fits the criteria.
The cost of the car in UK is £15000.
According to the customs web site it states the following:
"The importation of motor vehicles for local use has to be declared to Customs through a Customs In-Payment (Duty and GST) permit. [b]A duty rate of 20% of the Customs value will be levied on a motor car[/b] while a duty rate of 12% of the Customs value will be levied on a motorcycle or scooter. A 7% GST will also be levied on the CIF value (cost, insurance and freight) plus the duty payable. "


Furtherdown the page it states the following :"The Customs value of the motor vehicle is derived from the transaction value, i.e. the price paid or payable for the imported vehicle. Overseas freight and insurance charges are included to establish the Customs value in CIF. The transaction value needs to be adjusted to reflect other charges including commissions, assists (materials supplied by the importer), packing costs, proceeds of resale accruing to the seller, royalties and licence fees, and etc."

So they would include the cost of the freight plus the car costs and charge 20%?
If that is the case i still believe that's a good deal as the same car in Singapore costs 8 times the value!
Last question is what if my freight is included as my transfer package i.e. there is no cost to me how would they work that out?

Any suggestions or assistance gratefully accepted.

Thanks in advance.

Akeel
[quote][/quote]

katbh
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Postby katbh » Sat, 18 May 2013 8:45 am

Sorry but not really worth it. If it was a classic car that you really could not live without it would be different. For a 15,000 car it is really not feasible financially.
When you get here you need to purchase a COE (certificate of entitlement) which basically is a certificate that says you can have a car. This will become attached to your car and when you sell your car, you sell your car for the value of the car + the pro rata value of the COE.
Heres the rub.....COEs cost at the moment approx SGD$60,000. So you have cost of freighting your car, costs of import duty + COE at $60,000.
This COE lasts the car for 10 years. At the end of this time, the Car is either scrapped or sold to exporters - or you can extend for either another 5 or 10 years at the prevailing COE price.
So financially I think it would be better to buy a car here. And less hassle.
But most people use taxis or buses. Taxis are relatively cheap (check out websites for comfort taxis) but more expensive than they used to be. Buses and MRT (Trains) are fast and reliable.
If you need a car check out websites like http://www.singaporecarsonline.com
katbh

akeelm
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Postby akeelm » Sat, 18 May 2013 5:30 pm

thanks for the response. You have now helped me with local schooling and cars ! Great job thanks !

Even with the COE being expensive i am still compelled with bringing a car in. Reasons are:
Car costs: £15k - SGD 30k
freight : free (due to company paying out)
duty : 20% + other charges. so lets say 50%(worst case) - SGD 15k
COE : SDG60k
Total costs: 30+15+60 = SGD 105k. I saw my car advertised on the same link you send going at SGD $195k

I am still seeing a profit if i brought my own car in?

Regards,

Akeel

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sundaymorningstaple
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Postby sundaymorningstaple » Sat, 18 May 2013 7:17 pm

Katbh forgot to list the other import killer tax......

ARF.

http://www.lta.gov.sg/content/ltaweb/en ... -cars.html

Sorry to bust your bubble. Between the ARF and the COE it's absolutely ridiculous. If it was that beneficial, don't you think every tom dick & harry would be doing it?

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Postby Strong Eagle » Sat, 18 May 2013 11:39 pm

Have you read this document?

http://www.onemotoring.com.sg/publish/o ... mp/Car.pdf

You left out one "minor" tax... ARF... 140 percent of open market value of your vehicle.

Your numbers actually look like this:

a) Automatic S$10,000 "surcharge" for vehicle importation.

b) All taxes and fees are based upon your "open market value" and OMV is the total of original car cost, freight, insurance, registration, inspections... in short, every last penny that it costs to get the car over here.

c) Additional Registration Fee (ARF) - somewhere around S$48,000 for your vehicle.

d) Customs at 20 percent of OMV plus GST of 7 percent.

e) Potentially as much as S$20,000 for a car that does not meet emissions requirements.

As you read the above document, you really get the idea that Singapore is doing everything they can to dissuade you from importing. It will not be cheaper than buying here.

akeelm
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Postby akeelm » Sun, 19 May 2013 5:32 am

thanks to all.

Yes the ARF and other surcharges can certainly bust my bank. I was wondering why everyone is not already doing this and hence my post. Hopefully it will be helpful to all other in similar dilemma.

Enjoy what's left of the weekend.

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Postby PrimroseHill » Wed, 05 Jun 2013 11:57 am

There are tons more procedural and bureaucratic paperwork nightmare.
I did import my car over from the UK into SG. The paperwork on the DVLA side from giving them notice to completing export forms are incredible time consuming and labourious. There's also the VAT of HMRC that you have to inform, there's a slim chance that VAT can be reclaim.

You will need a COC (Certificate of Conformity) from the manufacturer. That alone cost GBP180.00. That took a month. I then had to get the authorised car service centre to drain all the oil from the car, everything. Then pay for the authorise service centre to load it up and deliver it to the shipping agent. All the paperwork has to be done and in order before it is loaded into the container in UK.

We had quotes - to sell the car in London, secondhand value about GBP40,000. To buy the same car here in SG anything up to SGD500.000. So we shipped.


P/S- we have a 911

crishcolon
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New

Postby crishcolon » Tue, 16 Jul 2013 3:42 pm

Hi friends,

I am crish and I ma new to this forum.

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Mi Amigo
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Re: New

Postby Mi Amigo » Tue, 16 Jul 2013 4:19 pm

crishcolon wrote:Hi friends,

I am crish and I ma new to this forum.

hi crish, how's yer colon dude?
Be careful what you wish for

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sundaymorningstaple
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Postby sundaymorningstaple » Tue, 16 Jul 2013 4:40 pm

I think his colon is stuffed. So badly that he's delusional......

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Mi Amigo
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Postby Mi Amigo » Tue, 16 Jul 2013 7:48 pm

Maybe Shimla is twinned with Arlington. :cool:
Be careful what you wish for

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sundaymorningstaple
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Postby sundaymorningstaple » Tue, 16 Jul 2013 8:15 pm

:lol:

I reckon there isn't too much difference between them and wetbacks! That ought to be good for a couple of raised eyebrows! :cool:


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