MOTOR VEHICLE IMPORTS
- Import permit
- Owner’s log book
- Proof of payment
- Proof of ownership
- Proof of insurance
- Commercial invoice (new vehicles)
- Import license
- Specifications of the vehicle (taken care of by your shipping company)
- OBL (bill of lading)
- If the owner of the goods is a diplomat, no restrictions apply on the import of motor vehicles and import is free of all customary applicable import duties and taxes.
- For non-diplomats and foreigners, an imported vehicle must be less than 4 years old, with an odometer reading of 50,000 kilometers or less.
- Returning nationals are now allowed to purchase a vehicle duty-free from a local car dealer in Barbados.
- In such cases payment in full must be made via wire transfer from their overseas bank account directly to the local car dealer in question.
- The requirements for accessing this duty free benefit are:
- The applicant must be a Barbadian citizen
- Must have spent at least the last 10 years living abroad
- Must be returning home permanently
- Must be approved by the Ministry of Foreign Affairs as being eligible
- The vehicle must be paid for in full
- Payment must be by funds directly transmitted from an overseas account bearing the name of the networker or their legal spouse and sent directly to the car dealer
- Returning nationals are allowed 1 vehicle per household
- Barbadians returning home who however prefer to import their existing vehicle, or another vehicle of their choice, subject to certain regulations, will still continue to be accorded the duty-free status for the vehicle, also on the basis of one vehicle per household
- Boats must not be shipped until the import license has been approved.
- The owner of the goods should apply for an import license prior to vehicle import.
- Customs clearance generally takes a minimum of 4 days.
- The rates of duty on motor vehicles are outlined below:
- Import duty of approximately 45% on all cars
- Environmental levy:
- $ 4,000.00 per used vehicle
- $ 300.00 per new vehicle
- Value added tax 17.5%
- Port FAS charge
- Excise tax as follows:
- For motor vehicles falling under H.S. Heading 87.03 whose engine capacity is 1800 cc or more and have a chargeable value exceeding $45,000, the rate is approximately 120%.
- Motor vehicles for the transport of goods (H.S. No. 87.04) will be taxed as follows:
- Where the gross vehicle weight does not exceed 5 tons and the chargeable value does not exceed $45,000, the rate of excise tax is approximately 62.77%.
- Where the gross vehicle weight does not exceed 5 tons and the chargeable value exceeds $45,000, the rate of excise tax is approximately 80.16%.
- Where the gross vehicle weight exceeds 5 tons, the rate of excise tax is 10%.
- The base for the new tax measures would be on gross vehicle weight (gvw) which is in consonance with the Harmonized Commodity Description and Coding system (H.S.).
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