Valuation of Motor Vehicles By Zimbabwe Customs
The valuation of motor vehicle as with the other goods is in accordance to Part X of the Customs and Excise Act [Chapter 23.02]. ZIMRA reserves the right to accept declared values or in some cases, reject the declared values when the declared values do not reflect a bona-fide open market value. This is usually the case with used motor vehicles when ZIMRA will assess the values of the imported cars. The assessment of values is in accordance with Section 112 of the Customs and Excise Act.
(NB: The valuation of goods including motor vehicles is in accordance with the World Trade Organization (WTO) Valuation Agreement).
In valuing used motor vehicles, ZIMRA shall consider, but is not limited to the following;
• The open market value of similar or identical vehicles sold on the same market at the same commercial level to unrelated parties
• The values already accepted for similar/identical vehicles
• The current condition of the vehicle being imported.
In determining the value of the imported vehicles, ZIMRA will use any and all information at its disposal.
Vehicles that are acquired by other means other than purchase (such as gifts) are also subject to valuation in order to determine their values.
The valuation process undertaken by ZIMRA is intended to ensure that there is no under- or over-valuation of goods. If a client is not satisfied with the value established through this valuation process, he/she may appeal and seek for a value ruling through the office of the Station Manager or the respective Regional Manager.
Value for Duty Purposes
The value to be used as a basis for the calculation of duty and tax shall include all charges and expenses incurred and incidental to the purchase of the vehicle and its transportation up to the place of importation. The following are some of the charges and expenses that are included in the calculation of the value for duty purposes;