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Trinidad Custom / Import Duties & Taxes

Custom / Import Duties & Taxes

Do you feel the amount you are made to pay on by Trinidad & Tobago Customs Import Duties & Taxes is fair?

Taxes and Duties Import Custom Trinidad

It's absolutely RIDICULOUS. I don't even know how people get barrels of items shipped here, it makes no sense since with the same money you spent in tax plus shipping you can buy the items here at the same price.

Trinidad Custom / Import Duties & Taxes Caribbean / Tobago & Trinidad

Everyday I interface with the business community. I was somewhat appalled to learn of the duties they pay on items that they import to make an honest living. While speaking to a car dealer some time ago he informed me of the various motor vehicle taxes and excise duties he pays on EACH vehicle that is brought into the country. Firstly, he pays Cost, Insurance and Freight charges for his shipment to be transported here from Singapore or Japan. When the his container arrives, Customs Officers inspect the vehicles and determine the worth of the vehicle according to the information detailed on the Cancellation Certificate Based on their judgement he pays the initial 15% value added tax on the value that is placed on EACH car, whether USD$5,000.00 or USD$6,000.00. Then according the size of the engine, he would pay TT$65.00 per C.C, so the larger the size of the engine, the higher the tax. After these charges are applied, another 15% tax is added to this overall price, so he pays this 15% tax twice. This charges do not include those that are incurred if the container arrives on a Friday evening. Port officials do not clear containers on weekends, so a daily rate of USD$62.50 is incurred for each additional day or part thereof that the container is not removed from the port. Not to mention the 'fees' that are paid to 'bring up' containers faster, and to ensure that goods are not 'delayed' intentionally or otherwise.

I would eventually like to own a sports vehicle like a Nissan Skyline( which costs approximately TT$500,000.00 foreign used or TT$1,000,000.00 Brand new to bring to the country. I have calculated that to bring in a Ferrari, it would cost approximately TT$1.5 Million (or the cost of a house).

Even when we export items, manufacturers have to pay fees to do so, in the sum of TT$75.00, (this was the fee a couple of years ago, it has probably increased since then).

Therefore, I do think that the duties and taxes that the business community has to pay to the Comptroller of Customs and Excise is a bit exorbitant in order to carry on with their daily transactions

Taxes and Duties Import Custom Trinidad

Why should gifts even be taxed at all. Someone takes THEIR money, pays for an item, pays to ship it to you and then you have to pay for receiving it? That's theft, it's like blackmail!

Taxes and Duties Import Custom Trinidad

Name: Scricketball

Comments: The importation of goods is taxed too highly. How is commerce supposed to thrive if the business owner is forced to pass on these costs to the consumer? People just don't have the money. It's encouraging higher than necessary inflation. And you wonder why there is a brain drain? Crime and high prices (the second a crime in itself)

Trinidad Custom / Import Duties & Taxes

General information about Taxation in Trinidad & Tobago can be Discussed here: Source 1

Trinidad Custom / Import Duties & Taxes

Name: Blessed
Country:

Comments: In most countr[ies] if you buy an item as a gift to send to a person not crossing 1000 dollars in your local currency the item is tax free. Tax is also based on the amount and purpose of the item. Thing is you import for your own personal use you tend to pay less taxes than the man who is importing for his business as he or she tends to make a profit on [his] goods. Trinidad adapt so much negative things from other countries and they won't try to adapt positive thing to try and help there country men. I suppose that is why crime is so high you can't import an item or receive them at a price you can afford. [..]

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Trinidad Custom / Import Duties & Taxes Trinidad & Tobago / Caribbean

Customs charges can be ridiculous. Imagine an item that is worth only US$5 they want to charge you taxes on it and many cases the charges are higher than the value of the item! They claim VAT and Import Duty tax. For instance if an item in their mind is worth TT$100 then they charge you 25% of it which in this case is TT$25.