The Ministry of Trade and Industry is today confirming that vehicles purchased and/or were en route to Trinidad and Tobago before Friday 15th January 2016, will not fall under the new policy governing the importation of foreign-used cars.
Last week the Government announced that it was changing its policy applicable to the age of vehicles being imported into this country. Vehicles must now be up to four years old and not six as previously applied.
Following concerns by the Foreign Used Car Industry, the Ministry issued the following statement today:
"On Friday 15th January 2016, the Honourable Minister of Trade and Industry announced specific policy decisions on the Foreign Used Car Industry in Trinidad and Tobago taken by the Cabinet of the Republic of Trinidad and Tobago at its weekly meeting on Thursday 14th January 2016.
One of the new policy measures is that the age limit of gasoline powered foreign used cars which are allowed for importation be revised to four (4) years from the existing six (6) years with immediate effect.
The Ministry of Trade and Industry has noted the query by Foreign Used Car Dealers on the impact of the new policy measures on vehicles which have already been bought. Cabinet in its deliberations did consider this matter and agreed that those vehicles which have already been purchased/en route to Trinidad and Tobago prior to Friday 15 January 2016 be exempt from the policy change.
In this regard, the Trade Licence Unit of the MTI has been directed to examine the relevant documentation to ensure compliance."
FOR MORE TOP STORIES: http://www.cnc3.co.tt/latest-news