How does Toyota auto advance maintain its leadership in the automobile industry? The secret is simple, it is the years of experience, vast knowledge, sound business insight and reliable quality- products. The Next Drive is one of the most reputed automobile entities in Bangladesh. It has a very successful history in the field of automobile import and sales business.
Our company is one of the leading companies involved in import and local distribution business of automobiles. We import all kind of Toyota, Honda, Nissan, Mitsubishi, BMW, Mercedes-Benz etc. Today we will discuss Toyota car import from Japan in this content.
Pros of Toyota Car
Thinking about buying a Toyota? You’re in good company. According to Consumer Reports, Toyota is the most popular auto brand in the U.S. Here’s why:
Toyota vehicles are awful for how long they last, you can say forever. The resale value of Toyota brand is highest according to Kelley Blue Book ranks. Toyota has a 5 year maintenance plan including oil changes. There are many hybrid models available.
They are now recognized worldwide for their durability and safety by the best automotive brands in the industry. They also have a good reputation for their resale value, so you can be sure that those who decide to purchase them will be happy with the decision they made. We invite you to buy a Toyota car; it will give you many years of great driving.
Top selling Toyota cars imported in Bangladesh are:
- Toyota Vitz
- Toyota Corolla Axio
- Toyota Corolla Fielder
- Toyota Allion
- Toyota Premio
- Toyota Harrier
Toyota Car Import from BD Regulations
A foreigner or Bangladesh National at the time of import needs to apply to the Ministry of Commerce and submit a letter of application with all necessary documents. There are some specifications to be met in order to get these permits.
1.Shipping Ports:
Import vehicle to BD through our company If you have already decided to purchase a new Toyota car then we can do the honor of importing it for you. The most common method used for shipping is the RORO (roll-on, roll-off) method. However, you can also arrange more expensive methods of shipment. Ports of Chittagong and Dhaka are used for the import of vehicles.
2.Documents Required:
- Copy of work permit
- Copy of original passport
- Certification of Title and Registration
- Registration and the invoice to determine the age
- Country of origin certificate
- Bill of Lading-BoL (original)
- Condition report of the vehicle
- Authorization Letter
Also, the import permit is required from the Chief Controller for foreigners imports and export permission.
3.Payment Method
Bills should be paid only through Letter of Credit (LC).
4.Inspection Required
Vehicles imported or transshipped from Japan to Bangladesh must be inspected at the cost of the importer, and the inspection will be conducted by JAAI (Japan Auto Appraisal Institute) to certify that they meet current vehicle standards.
Vehicle Age Restrictions in BD
The Bangladesh Government currently has no restrictions on importing a used car. The country does not have any taxation for importing vehicles, such as when entering the UAE, India or China where it can be quite expensive.
Also, there is no restriction on the age of vehicles being imported. All you need is to have a certificate of origin of the vehicle to ensure that all vehicles being imported are from the country or origin and that they are a maximum of four years old.
Excise Duty
Duties and VAT is calculated based on the value of the vehicle plus freight and insurance. You can choose to go through the process yourself or can use the services of a clearing agent. We always recommend contacting the embassy which is a clearing agent in BD or the authorities in BD to ensure having the up to date information.
The information here is just a general guideline, please do not take it as hard and fast rules for car importation.
Please note: If you are a non-government employee and you plan on utilizing your 30 days of car shipment, you must pay the import duty. We recommend that, if possible, the driver of the vehicle should be present at Customs in order to avoid an excessive amount of paperwork or complications. You must be registered as a resident in order to apply for an import license.
Taxation Toyota Car Import in BD
Owning a car in Bangladesh is not an easy task because of the expensive prices of cars. All cars imported into Bangladesh have to pay an import tax. The rate of taxes will depend on the size and power of the engine, as well as the approved passenger capacity of each car.
The annual budget of 2017-18 fiscal year is published. Consequently, it has brought some changes for many sectors including automobile industry. The new import duty for cars in Bangladesh is somewhat same as the previous one. But actually, the government has made some changes to the tax structure and it will affect on the import duty of cars in Bangladesh.
Import tax, in most of the cases, is calculated on the retail price of cars plus VAT (Value Added Tax) and other extra charges. As every automobile has its own retail cost, so does its import tax. The calculation of import tax becomes complicated when cars with different specs have to be compared.
There are two main factors that affect the price of a car. One is the Customs Duty and another is the Tax imposed by the government. There are taxes imposed on importing a car in Bangladesh, which make up to 112% customs or import duty, inclusive of 15% VAT and other taxes. This tax depends on several factors like size and power of the engine.
Import Tax Rate:
- Import tax: 0-40%
- Value-added tax: 15%
- infrastructure development surcharge: 2.5% (imposed on imports)
Conclusion
Toyota car import and sales business have been flourishing for years in Bangladesh. The Next Drive is actively involved in the business of Toyota car import from Japan in Bangladesh. We are importing brand new, reconditioned and used cars from Japan every day. We have well versed staff who can serve you in many ways and we also have the best price for all your desired Toyota car model.
To choose a car model, you have to find out online which car model you want. Then check out the nearest Toyota showroom and their stock. Finally, take a look at the available cars in Japan. If you get any car which fulfills your desire and budget then select that one.
