Import Taxes Rates
Import duty is 65% of FOB price.
Environmental levy is USD 200.
Procedure fee is 1% of FOB price.
VAT is 7.5% of total price (including FOB price, freight, Import duty, Environmental levy, and procedure fee.)
Custom duty rates are determined by the value of the vehicle. For instance, if a vehicle costs $10,000 or less you will be charged a duty rate of 65% while a vehicle that is valued at $10,001 to $40,000 will stand at a rate of 75%. Vehicles priced over $40,000 have a duty rate of 85%. Hybrids and other electric vehicles are much less, charged with only 25% duty. Other charges may include: 1% processing fee, environmental levy fee for vehicles, storage fees, freight and insurance and landed charges. Bear in mind that the 7.5% VAT is not included with such fees and must be paid separately. For vehicle importers that reside in Freeport, Grand Bahamas please be advised to read the "VAT and the Hawksbill Creek Agreement".
Documents Required
- Copy of Certificate of Title and Registration
- Original Commercial/ Purchase Invoice
- Import permit
- Bill of Lading
