Abbreviations used
- CIF – Cost Insurance Freight (Taxable Value)
- I/D – Import Duty
- EXA – Excise duty for vehicles aged more than 10 years
- EX – Excise Duty
- VAT – Value Added Tax
- CV – Cost of Vehicle
- CRP- Current Retail Price
- PM- Profit Margin
- P – Profit
- VBD – Value Before Depreciation
TAX RATES
NON - UTILITY VEHICLES C.C I/DUTY E/DUTY VAT 0-1000 25% - 18% 1001-2000 25% 5% 18% 2001 and above 25% 10% 18%
UTILITY VEHICLES ITEM I/DUTY E/DUTY VAT Pick ups 25% 18% Trucks ( 5tons-18.5tons) 10% 18% Trucks ( above 18.5tons) 0% 18% Tractors(trucks for pulling semi trailers) 0% 18% Buses (carrying from 10 passengers ) 25% 18% Land cruiser Hard tops carrying from 10 passengers 25% 18%
STEP. 1
CALCULATION OF THE COST OF MOTOR VEHICLE WITHOUT PROFIT
- P = CV*25%=CV*0.25=0.25CV
- CRP=CV+P
- CRP=CV+0.25CV
- CRP=1.25CV
- CRP/1.25=CV
STEP.2
CALCULATION TO OF PROFIT MARGIN
PM=CRP – CV
STEP.3
CALCULATION OF CIF VALUE BEFORE DEPRECIATION
We remove the tax element from Cost Value
- VBD = CV/1.25/1.18 for vehicles with less than 1000cc
- VBD = CV/1.25/1.05/1.18 for vehicles with more than 1000cc but not exceeding 2000cc
- VBD = CV/1.25/1.05/1.18 for vehicles exceeding 2000cc
STEP.4
CALCULATION OF DEPRECIATION
DEPRECIATION FOR DIRECT IMPORTS 0to <1 year 10% 1 to < 2 years 15% 2 to < 3 years 20% 3 to < 4 years 25% 4 to < 5 years 30% 5 to < 6 years 35% 6 to < 7 years 40% 7 to < 8 years 50% 8 to < 9 years 60% 9 to ≤ 10 years 70% above 10 years 75%
Depending age of the motorvehicle and basing on the given depreciation rates in the table above the depreciated value will be calculated as follows
DEPRECIATION VALUE = VBD * RATE
CALCULATION OF TAXES
a) Motovehicles with Import duty and VAT only
- I/D = CIF * 25%
- VAT = (CIF+I/D) * 18%
b) Motovehicles with Import duty and VAT but aged more than 10 years
- I/D = CIF * 25%
- EXA = (CIF+I/D) * 20%
- VAT = (CIF+I/D+EXA) * 18%
c) Motovehicles with Import duty ,Excise Duty and VAT
Vehicles with more than 1000cc but not exceeding 2000cc rate is 5% Excise duty, and those with more than 2000cc rate is 10%
- I/D = CIF * 25%
- EX = (CIF+I/D) * 5%
- VAT = (CIF+I/D+EX) * 18%
d) Motovehicles with Import duty ,Excise Duty and VAT but aged more than 10 years
Vehicles with more than 1000cc but not exceeding 2000cc rate is 5% Excise duty, and those with more than 2000cc rate is 10%
- I/D = CIF * 25%
- EXA = (CIF+I/D) * 20%
- EX = (CIF+I/D) * 5%
- VAT = (CIF+I/D+EXA+EX) * 18%
UKITAKA KUJUA ZAIDI KU-CALCULATE ILI KIJUA KODI YA GARI ULILOAGIZA/UNALOTAKA KUAGIZA, WASILIANA KWA:-
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TANZANIA NI ZAIDI YA UIJUAVYO...........!!!!!
Thursday, June 16, 2011
Valuation of Used Motorvehicles
Tuesday, April 5, 2011
Monday, April 4, 2011
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Saturday, April 2, 2011
TANZANIA TARIFF
kwa msaada wa kujua TARIFF na RATE zake waweza gonga hapa http://196.43.84.189/trapad/TariffBook/HSCodesBook.aspx ingiza H.S CODE yako hapo na waweza kujua VAT & IMPORT DUTY................
ALERT.............ASYCUDA++, ASY-SCAN, TRA-PAD, CULAS AND ALL CUSTOMS SOFTWARE INSTALLATION
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or visit us to our office samora/uhuru street- 1st floor Dodoma house opp clock tower shopping center
note: clearing and forwarding agents who are not yet installing these system you can Oslo come to our office to process your documents
Friday, July 16, 2010
KAKOBE MATATANI TENA........!!!!!!!!!!!!!!!!!!!!!!!!
Mama Monica Mutasingwa wa (kulia) ambaye alikuwa muumini wa zamani wa kanisa la Kakobe (Full Gospel Bible Felloship) na kufukuzwa katika kanisa hilo akizungumza na waandishi wa habari leo katika ukumbi wa Habari Maelezo juu ya kile alichokiita kuwa ni Unyanyasaji, Uonevu na uvunjwaji wa Haki za binadamu unaofanywa na Askofu Zakaria Kakobe zidi ya waumini wake akiwa kama kiongozi wa Dhehebu hilo kinyume na maandiko matakatifu na mahubiri yake kanisani hapo.Kushoto ni baba yake mzazi mzee Tara Sariyael.
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