Cyprus-Forum.com

[stuballstu]

Can someone clarify for me. If i import a car from the UK to Cyprus what taxes do I have to pay. For example to I have to pay registration tax and VAT or is it just registration tax?

[Svetlana]

My understanding is that you will have to pay both tax and Registration fees. Only, if you had owned and used the vehicle for a minimum period of 6 months in an EU country and were moving to Cyprus would it be regarded as a personal possession and therefore free of tax - but not registration.

Lana

[Marinos]

Lana, your calculations are much appreciated.

Thanks Marinos.

[GG]

GG, why did u do that? new CRV model is coming to cyprus in January...

Well because the CRV I bought as new would be £26,000 GBP and I managed to get it for £8500 GBP.

In an ideal world I wanted to take an X5 or Range Rover but the tax is just plain silly.

[pantheman]

Hi Marinos

My guestimeate of what it will cost, assuming 4,400 cc:

4400 x £4.5 per cc = £19,800 less age related reduction of (7/9 x 85%) = £6710.

£6710 + VAT a 15% = £7716.

Plus Registration Fee: 4400 x £.6 = £2640

So, in total £10,356.

I could be a couple of hundred pounds out either way.

Lana

Lana,

good info ,but still a bit confused. (and i thought i understood this stuff) You calculated 4400x £4.5 per cc. I thought that tha calculation was staggered, ie £0.30 for the first 1650cc, then £1.xx between 1650 and 2250 and then £x.xx for 2250 cc - xxxx cc or am i misynderstand this ?

Seems trange to pay the the £4.5 on the full 4400 cc ???

Hope you can understnd what i mean.

Also, is my understanding cortrect that you still have to pay excise duty even if you have the car 6 months or more ? (excise duty as opposed to tax free) ?

Just to summaries :

1. get car own for less than 6 months bring over pay excise duty, vat and reg fees ?

2. get car own for more than 6 months bring over do not pay excise duty, vat only reg fees ?

are both these statements correct ?

Many thanks

Pantheman

[Svetlana]

Hi Pantherman

No, the Duty is not stepped; if the vehicle falls within a certain band a single rate applies per cc.

Regarding the 6 month rule, my understanding is that it applies only to EU Nationals where VAT has been paid in an EU country -which does not apply to Marinos.

So your statements 1 and 2 are correct, if we are talking about vehicles from the EU.

Lana

[pantheman]

Hi Pantherman

No, the Duty is not stepped; if the vehicle falls within a certain band a single rate applies per cc.

Regarding the 6 month rule, my understanding is that it applies only to EU Nationals where VAT has been paid in an EU country -which does not apply to Marinos.

So your statements 1 and 2 are correct, if we are talking about vehicles from the EU.

Lana

Lana,

thanks, i know you are an expert in many areas on cyprus and i do trust what you say, but on this occasion, may i just clarify one point.

I always though that excise duty was paid whatever the case, ie own it for 6 months or not? I am not talking about a duty free car, but a car that pays its tax so it can be sold on at a later date if required with no tax burden.

From what you have said, it means if i bring my car that i have owned for more than 6 months i will only have to pay reg fees?

Otherwise i pay excise duty according to the tables ?

Sorry to be a pain, but you previous reply blew out of the water anything i understood about this situation.

Thanks for taking the time

Pantheman

[G.Man]

Pantheman

If you have owned it and can prove t for 6 months or longer in an EU state, and it has done over 6000km then it is classed as an EU portable possession and you dont pay excise duty on it IF you are moving your residence to Cyprus.

[pantheman]

Pantheman

If you have owned it and can prove t for 6 months or longer in an EU state, and it has done over 6000km then it is classed as an EU portable possession and you dont pay excise duty on it IF you are moving your residence to Cyprus.

Thanks G.Man

[GG]

Yes but there is a lot of discussion on exactly what proves you are moving to Cyprus. Its at the discretion of the individual you deal with.

Some agents are happy with a bank statement and tenancy agreement but some want to actually see documentation from your accountant to show you are a CY taxpayer. There are some individuals that for a small fee said they could get my car in tax free but I chose not to risk it.