Are there any Licensed Custom Brokers here with experience importing used motorcycles from the US ?
I will be basing my imports on:
A returning Filipino or who has stayed abroad for more than a year;
First I would like to get an idea on the 40% Customs duty, 10% VAT and Ad Valorem Tax from 15% to 100% depending on its piston displacement. Its book value serves as the tax base and not the purchase price nor the acquisition cost.
So let's use a 1997 FLSTS Harley Davidson as an example.
How much would it cost ?
40% Customs duty
10% VAT
Ad Valorem Tax ( Piston displacement is 1340 cc )
Kelly's Blue Book values the book value at $11,375
Since it is 1997, if the imported motor vehicle is an older model or an earlier than the current year model. The depreciation schedule is 10% per year counted downwards from current year which has a depreciation rate of zero percent (0%). Motor vehicles below 2000 cc, up to the maximum of 70%. Does that mean it would then be valued at $7962 ?
What would the non-customs charges cost approximately: storage and arrastre fees which may be collected by the privately-owned arrastre operator; the shipping line and wharfage dues by the Philippine Ports Authority (PPA).