Oh no, is this another one of those, what do I have to do in order to import a car under the residency exemption ?
Kind of, sort of, but not really …
So it's pretty much common knowledge the following under the residency exemption …
1) Car must not be older than 5 years old.
2) Car must be free of any loans, or liens on the car.
3) You must have owned the car for a minimum of one year prior to bringing it into the DR.
So here's where it gets cloudy for me.
I have read where a couple purchased a vehicle in the USA for $40k US Dollars. The Dominican authorities determined a value as $52k.
So are there two charges awaiting that car under their residency upon arriving in the DR, one being an import duty, and the other being the 18% tax sales tax ?
So my question is, are you spared the import duty under your residency exemption, but still have to pay the 18% sales tax on the government's determined value, or do you get a reduction on the import duty and still have to pay the 18% sales tax ? What exactly are all the additional costs under your residency exemption ?
So say you bring in a car into the DR under your residency and the DR government has declared a value of $60k, at the end of the day, after any and all duties and sales taxes are owing, what is the total cost to have pay for your car to get plated, registered, and all ready to drive in the DR ?
Thanks for all who share your knowledge with this
Ian