Complete Bike import, do I have the right duty/vat formula ?

[Elvin]

So this has been discussed OVER and OVER again, but everyone seems to have their own idea on what the duty and vat will amount to, leaving me....clueless

 

I came across this formula:17.5%VAT X  [ (price + 10%) X 14% ]

 

So on a road bike from CRC costing 13988.05 ZAR, total cost will amount to:

 

13988.05 ZAR + 10% = 15 386.85

 

then, R15 386.85 X 14% = R17 541

 

So, 17.5% X ( R17 541) = TOTAL PRICE R 20 610.67

 

Is this correct? are there any other costs? except for shipping?

 

 

[Guest Big H]

So this has been discussed OVER and OVER again, but everyone seems to have their own idea on what the duty and vat will amount to, leaving me....clueless

 

I came across this formula:17.5%VAT X  [ (price + 10%) X 14% ]

 

So on a road bike from CRC costing 13988.05 ZAR, total cost will amount to:

 

13988.05 ZAR + 10% = 15 386.85

 

then, R15 386.85 X 14% = R17 541

 

So, 17.5% X ( R17 541) = TOTAL PRICE R 20 610.67

 

Is this correct? are there any other costs? except for shipping?

 

Not sure about your formula but the following rules apply

 

On bicycle spares as long as it cannot be construed as the spares needed to build a bike - O% import tax. You pay CRC for the spares and the shipping on arrival you pay SAPO or the Shipping Agent 14% VAT + 10% of the VAT.

 

On complete bicyle imports you pay a import Tax and most likely the same as for the VAT above. I do not know what the import tax is.

 

On Helmets, clothing, gloves, shoes and other apparel you also pay a import tax.

 

Sure other Hubber will help.

[covie]

you dont pay import duties on parts if I remember correctly so see if you can have the distrobuter break it down into two sections parts and frame, should be able to get away with not paying import duties only vat.

[Guest Big H]

you dont pay import duties on parts if I remember correctly so see if you can have the distrobuter break it down into two sections parts and frame, should be able to get away with not paying import duties only vat.

 

I doubt if they will do it and if customs see that the spares you import can make up a whole bike, you will pay tax for a whole bike

 

Edit..... and they will have to sate the value of avery single item..... they cannot just allocate one valu for a bunch of new spares. ..... and CRC will not lie or later on any import documentation...... there are heavy fines fgor that.

[gummibear]

I doubt if they will do it and if customs see that the spares you import can make up a whole bike, you will pay tax for a whole bike

 

I put in 2 orders with CRC one for frame,fork,seat post and bar.Then another for the rest.

[Guest Big H]

I put in 2 orders with CRC one for frame,fork,seat post and bar.Then another for the rest.

 

Buying all the spares to maker a bicyle seperately will cost you more than an assembled bicycle.

[gummibear]

Buying all the spares to maker a bicyle seperately will cost you more than an assembled bicycle.

 

 

Not when they have really good specials on,worked me out much cheaper than a complete bike and i got what i wanted.

[FC&P2C]

Things to remember:

Complete bikes doesn,t qualify for the free shipping.

15% duty on complete bikes.

Calculate like this:

 

(Bike price + Shipping) x 1.15 (duty) x 1.154 (Vat on final total)

 

Also remember that crc quoted price can differ dramatically from amount charged on card due to currency fluctuations.

 

The saving from buying a complete bike is often much greater than the 15% duty.

[Koningkv]

I just received my 2009 Kona One20 Primo from wiggle.co.uk. Paid GBP909 for it, including shipping, plus VAT and duties of R1850. I guess I was lucky not having to pay more, but at that price you cannot even nearly compare it to what you would pay for it here. Was a real lucky break.