Collectable motor vehicles Rebate

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pietpetoors
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Collectable motor vehicles Rebate

Post by pietpetoors » Thu 04 Jan 2018, 16:35

http://www.ftwonline.co.za/customs/arti ... r-vehicles
Posted on: 13 Dec 2017

The Department of Trade and Industry (the dti) on 08 December published its eight-page “Guidelines, rules and conditions pertaining to permits issued under rebate item 460.17/87.03/04.04 for vintage and/or internationally collectable motor vehicles not imported for conventional/domestic daily transportation use or purposes classifiable under tariff heading 87.03”.

Rebate item 460.17/87.03/04.04 of Schedule No 4, Part 2 of the 1964 Act makes provision for a rebate of the full duty on the: “Importation of motor cars and other motor vehicles principally designed for the transport of persons (excluding commercial vehicles or buses) including station wagons and racing cars classifiable under tariff subheading 87.03, which were manufactured 40 years or more prior to the date of importation or such motor cars of any age which is determined to be an international collector’s vehicle and subject to the issuing of the an Itac import permit (and subject to import control conditions) authorising the importation of the particular vehicle under such conditions as Itac may allow by specific rebate permit.”
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pietpetoors
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Re: Collectable motor vehicles Rebate

Post by pietpetoors » Thu 04 Jan 2018, 16:37

Only Dead Fish Go With The Flow!

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ZA Perana
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Re: Collectable motor vehicles Rebate

Post by ZA Perana » Thu 04 Jan 2018, 19:01

Very important good new this. I believe this changes the collector car market in SA quite substantially.
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IndianaJones
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Re: Collectable motor vehicles Rebate

Post by IndianaJones » Thu 04 Jan 2018, 19:30

That seems to be good news.

LHD vehicles would still be a different matter, unless you convert to RHD.

Vehicle 40 years and older, would then now mean vehicle models up to 1978.

But could someone more savvy with duties and taxes please explain, which “full duty” qualify for this rebate?

My understanding was that you would have payed a 25% import duty; 14% VAT calculated on the Value of the car, plus 10%, plus a non-rebated duty percentage; and an environmental levy. Not sure where Ad Valorem fitted in? Did I leave anything out?
Would you still pay Ad Valorem tax, as classic cars are luxury items?

What taxes and duties would still apply?

johan wepener
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Re: Collectable motor vehicles Rebate

Post by johan wepener » Sun 07 Jan 2018, 12:56


Irrespective of the regulations promulgated by SARS,will ITAC issue a certificate for importation of an 50 old year Left Hand

Drive?

johan
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jlebenon
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Re: Collectable motor vehicles Rebate

Post by jlebenon » Sun 07 Jan 2018, 16:27

I've seen about 30 cars come in this last year and a half so there's some loophole somewhere ....
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