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BMW E39 530i M-Sport Individual Aegean Blue Edition 2003
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<blockquote data-quote="haywire" data-source="post: 465094" data-attributes="member: 16474"><p>No more appeals, the system has changed since 1 June 2010 to automatic discount system.</p><p></p><p>It is based on ownership in the UK, if you owned the car less than 1 year in the UK you'll get 20% discount automatically, between 1 to 2 years 25% discount automatically and over 2 years 35% discount automatically (maximum that could be given).</p><p></p><p>Also the docket price system has changed, now no more depreciation after 5 years. The CIF price is fixed to 5 years. This is the cause of the high tax. For example, in the old system docket price for my car at 5 years old is RM33,678. So a 6 years old car would be 10% less at RM30,310. My car, a 7 years old car would get a further 10% to be RM27,279 (coincidentally this is nearly the price I paid my car for, so this is a correct valuation i think)</p><p></p><p>BUT in the new system, the CIF price that would be used for the tax calculation must be the figures that is stated in the docket, and the docket only states the figure for a 5 years old car, and it is for "60 months a above" (5 years), meaning any car above 60 months will be valuated at that figure, dont care if its a 10 year old car will still use that RM33,678 figure. No more 10% less for each year passed.</p><p></p><p>Rough calculation for the tax for my car:</p><p></p><p>CIF (Cost Insurance Freight) price for my car in the Customs docket: RM33,678</p><p></p><p>Import tax bracket for my car 193% roughly</p><p></p><p>RM33,678 x 1.93 = RM64,998</p><p></p><p>Backdated the documents for my car to be owned in the UK over 2 years = Automatic 35% discount</p><p></p><p>RM64,998 x 0.65 = RM42,248</p></blockquote><p></p>
[QUOTE="haywire, post: 465094, member: 16474"] No more appeals, the system has changed since 1 June 2010 to automatic discount system. It is based on ownership in the UK, if you owned the car less than 1 year in the UK you'll get 20% discount automatically, between 1 to 2 years 25% discount automatically and over 2 years 35% discount automatically (maximum that could be given). Also the docket price system has changed, now no more depreciation after 5 years. The CIF price is fixed to 5 years. This is the cause of the high tax. For example, in the old system docket price for my car at 5 years old is RM33,678. So a 6 years old car would be 10% less at RM30,310. My car, a 7 years old car would get a further 10% to be RM27,279 (coincidentally this is nearly the price I paid my car for, so this is a correct valuation i think) BUT in the new system, the CIF price that would be used for the tax calculation must be the figures that is stated in the docket, and the docket only states the figure for a 5 years old car, and it is for "60 months a above" (5 years), meaning any car above 60 months will be valuated at that figure, dont care if its a 10 year old car will still use that RM33,678 figure. No more 10% less for each year passed. Rough calculation for the tax for my car: CIF (Cost Insurance Freight) price for my car in the Customs docket: RM33,678 Import tax bracket for my car 193% roughly RM33,678 x 1.93 = RM64,998 Backdated the documents for my car to be owned in the UK over 2 years = Automatic 35% discount RM64,998 x 0.65 = RM42,248 [/QUOTE]
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