Jun 3 2012, 12:27 PM
QUOTE(DarkForXe @ May 7 2010, 08:23 PM)
just buy your car at your current country. You can even apply to buy from other country in case you are in a LHD country. You are qualified for the program? don't waste it. Get 2 big cars back. But remember you cant sell it within 2 years (even you sell it, buyer need to PAY back the tax) so dont think about profit in this program.
QUOTE(rcracer @ Feb 12 2012, 02:15 AM)
how does this work? do they give the tax back in cash or the dealer just discounts it or how?
i'm also planning to use this in a few years time if it still exists
hi guys. Have you found out how it is possible to resell the car after 2 years? The info that I got is not very clear.i'm also planning to use this in a few years time if it still exists
Quote from TalentCorp:
If I were to purchase my CKD vehicles tax-free, how long must I hold them before I am allowed to sell them off? Will I be paying any taxes when I sell them off?
Once you have purchased your two (2) CKD vehicles tax-free, you must have them in possession for a minimum period of two (2) years before you are allowed to sell them off to a third party. The third party will be responsible to pay to the Government any taxes payable incurred on the CKD vehicles depending on the make and model. Both cars must be registered under the recipient's name.
From the above, it seems that:
1. You CANNOT sell the cars off within first 2 years, AND
2. When you do sell if off after 2 years, the buyer has to pay the same amount of tax exempted in the beginning. No matter how old the car is during the sale.
Er, so there's no loop hole. Correct?
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