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Valuation Vehicles

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Valuation Of Vehicles.

For the purposes of levying taxes, the value of a vehicle shall be deemed to be the HOME DELIVERY VALUE. DEPRECIATED as shown below, with freight and insurance as stipulated under section 90 of PNDC Law 330, 1993

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Where the age of a used motor vehicle does not exceed six months

The price shall be deemed to be the First Purchase Price

Where the age exceeds six month but does not exceed one and a half years

The price shall be deemed to be eighty-five percent of the first purchase price (This means, the car will be depreciated by25%)

Where the age exceeds one and a half years but does not exceed two and a half years

The price shall be deemed to be seventy percent of the first purchase price (This means, the car will be depreciated by30%)

Where the age exceeds two and a half years but does not exceed five years

The price shall be deemed to be sixty percent of the first purchase price (This means, the car will be depreciated by40%)

Where the age exceeds five years

The price shall be deemed to be fifty percent of the first purchase price. (This means the car will be depreciated by50%)

Importers Vehicles - Tax Rate.
These percentages are calculated directly on the CIF value except the GCNET fee, which is calculated on the FOB

TYPE OF VEHICLE IMPORT DUTY IMPORT VAT NHIL EXM.FEE ECOWAS LEVY EDIF GCNET FEE CAPACITY
Ambulance Free Exempt Exempt 1% 0.5% 0.5% 0.4% N/A
Motor car 5% 12.5% 2.5% 1% 0.5% 0.5% 0.4% From 1200 - 1900 cc
Motor car 10% 12.5% 2.5% 1% 0.5% 0.5% 0.4% Above 1900 - 3000 cc
Vehicles designed to carry ten (10) persons 5% 12.5% 2.5% 1% 0.5% 0.5% 0.4% N/A
Cargo trucks 5% 12.5% 2.5% 1% 0.5% 0.5% 0.4% N/A
Agricultural tractors & equipment Free Exempt Exempt 1% 0.5% 0.5% 0.4% N/A
Industrial Generator 8501640000 0% 0% 0% 0.5% 0.5% 1% 0.4%