Business News

Government cracks down on used vehicle imports

By Scott Waide

Used car importers will be hit hard when the government raises taxes aimed at reducing traffic congestion in towns and cities.

Currently, imported vehicles with engines sizes of 2700cc and above attract a tax rate of 110 percent.

The tax increase means that those importing used vehicles like four wheel drives will have to pay 130 percent on top of the cost, insurance and freight.

“I think it’s a bit unfair for working class families who have transport difficulties. 

If the government wants to raise taxes, they should improve the public transport system,” says George Gware, a Lae resident and businessman.

The crackdown on used vehicle imports comes at a time when vehicle imports   have hit an all-time high. Last month, a record 700 vehicles arrived in Lae port alone. Two hundred of them were used vehicles.

The used car business in Papua New Guinea has boomed in the last decade, with Japanese dealers specifically targeting Papua New Guinean buyers.

The tax increase means imports will drop and car yards will raise their prices.

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