Quick SME Services

18/11/2024

New Vehicles out for hire K250/day
More than 3 days K200/day
Present Drivers License
Vehicles Tracked
Pom based

Call or inbox us
71238558/82903159

03/02/2023

A successful SME mother in PNG

12/12/2022

HOW TO IMPORT A VEHICLE FROM JAPAN (PART 2)
-End of the Article is an example of a present-day cost estimate

In Part 1 of this article, we outlined steps to import vehicles from Japan to PNG. This includes all processes involved from searching online to payments and having the vehicle shipped to the ports in PNG. In Part 2 we will detail steps to clear the vehicle from a designated port where the shipping agency will ship the vehicle. If you haven’t read part 1 please follow the link below before continuing.

STEP 10 – CONSIGNEE AND NOTIFY PARTY

In simple internet definition, a Consignee – is a key entity in the shipping chain and is the person or company that is legally allowed to receive the cargo covered in the bill of lading. Notify – this is the name and address details of the person who should be notified of the arrival of the cargo. https://www.shippingandfreightresource.com/relationship-between-consignee-and-notify-party/
The consignee and notify party can be the same address and person who can be yourself. You will send this information to the car dealer agent whom you’ve been in contact with. Information will be given to the logistics team for confirmation of shipment.

STEP 11 – SHIPMENT FROM JAPAN TO PNG

When details of the consignee and notifying party details are sent over the logistics team will proceed to make arrangements with the shipping agency for the shipment. Depending on which car dealer you deal with this process can take a week or two depending on the schedules of the ship. Larger companies may take a bit of time since they have a lot of shipments to arrange. Always be patient and do constant follow-ups with the sales agent.

STEP 12 – CUSTOMS DOCUMENTS FOR ARRIVAL OF SHIPMENT IN PNG

As the shipment is progressing from the car dealer’s end you will be required to prepare documents to submit to the customs through your customs broker (Business/Company operating on your behalf and PNG Customs). When you reach this stage you should already choose a Customs broker to work with. Visit the PNG Customs Page on Facebook for the list of registered Customs brokers.

Documents required by your Customs Broker
1. IRC TIN Certificate
2. PNG Customs G26a Form (Your broker will provide to fill)
3. Identification Card
4. Bank Statement showing Payments to Car dealer Account (Not TT, actual Bank Statement)
STEP 13 – DIAL-UP BY CUSTOMS BROKER

When you reach this stage your broker will do what is called a dial-up. From the dial, you will know the total tax fee that you will be imposed. For SUVs, it may cost up to K5,500 - K6000 depending on the engine size and weight of the vehicle.

STEP 14 – PNG CUSTOMS ASSESSMENT NOTICE

The PNG Customs will issue an assessment notice once the dial-up is lodged by the Customs Broker and the imported goods will be declared. Your broker will ensure all this process is followed through thoroughly to the end.

STEP 15 – PAYMENT FOR THE CUSTOMS FEES

The fees mentioned in step 5 will be paid by you as the importer through online banking or an Eftpos machine at the PNG Customs Office at Gordons Industrial Centre Opposite Steel Industries. The Payment will be done to the Bank of Papua New Guinea (BPNG). When doing online banking take note the BPNG BSB number is 121001

STEP 16 – WHARFAGE AND HANDLING CHARGES BY THE SHIPPING AGENCY

There’ll be another Payment to the shipping agency for the wharfage and handling which will roughly cost around and slightly more than K1000. This is not part of any customs fees. This is for the shipping agency. You will have to go do payment at the Shipping Agency’s office. They will be in touch with you and keep you updated as well along the way via email.

STEP 17 – ADDITIONAL MANDATORY WHARFAGE CHARGES EXPECTED

1. NAQIA (Permit to Land)
2. Shipping Lines Delivery Order (Master DO)
3. Release Order (RO)
4. Exit Note (EN)
5. Packing List – for Break Bulk Cargoes (PL)

All of the above should be around K100
Your broker can do this payment on your behalf and you settle it with the broker fees.

STEP 18 – ROAD TRAFFIC AUTHORITY (RTA) EXEMPTION FEES

While your broker is sorting the above. You may have to proceed and purchase a fee of K115.00 to RTA to drive an unregistered vehicle on the road. You will apply for the permit a day or two before the vehicle is released from the wharf.

STEP 19 – DRIVE AWAY

When all payments and release order is given plus the RTA permit and exemptions, your broker will advise you to pick up the vehicle at the wharf

STEP 20 – CUSTOMS BROKER FEE

Finally, don’t forget to settle your Customs Broker Fee. Develop a good relationship with them as it is their business and they will do whatever it takes to get the imported vehicle out as soon as possible to avoid storage fees. All custom brokers might have different fees depending on the type of goods imported but if you importing a vehicle, expect to settle your customs broker with an estimate of K1000.00 or slightly less.

SUMMARY OF COSTS FOR A VEHICLE COSTING US$4.800 (All figures estimated)

1. Purchase and Shipment Japan – PNG Purchase of Vehicle by TT based on Current Exchange Rate K17,000
2. Import Duty Tax – K5,600.00
3. Wharfing and Handling – K1000.00
4. Additional Wharfage and Naqia charges – K100
5. Customs Broker Fees K1000
6. RTA Permit – K115.00
7. Safety Sticker – K50.00
8. Registration by MVIL – K1000

The total drive-away cost for the example given above for US$4,800 would be an estimated K26, 000.00 which is a much more realistic cost with very low mileage and a car in a great drive-away condition worth value for money.

Hope this would help much for those who might want to import a vehicle. We have shared the above information freely so do support our page by liking and sharing and be ready to hire out some of our vehicles in the near future.

*Note: We are not a Customs Broker but we offer Financial Literacy Courses and other training as such for processes of registrations. If you need a broker, our Customs Broker that we deal with Anuena Customs and Logistics Limited which operates both in Port Moresby and Lae. Contact through email; [email protected] or [email protected]

Quick SME Services Provides a Reliable Business Pathway Service For Papua New Guineans

09/12/2022

Always keep an eye on new fast service centres. MVIL renewal of Registration and Drivers license can be done at Vision City Mall. There's a new Air Niugini Customer Service at Rangeview mall, or choose online payment options to save time, energy and resources.

14/11/2022

For those interested to buy imported goods on Tender do check out PNG Customs Lae Branch.

03/11/2022

Wishing Mr Flemming the best. He was one of the best in the business and brought BSP to where it is now.

28/10/2022

20/10/2022

You can always make an order of this book on Amazon

10 LESSONS FROM RICH DAD, POOR DAD

1. Manage your money:

Many people are able to make money, but not everyone learns how to manage it properly.

Financial intelligence starts with learning the difference between assets and liabilities.
ensure that you have more money coming in than going out, which is what will make you richer.

2. Pay Yourself First:

Most people earn and spend their salary paying bills.

A rich person always pays himself.

Invest in
- Courses
- Books
- Experiences

3. Saving and investing are different:

Saving is considered a must and a good habit.

You need to invest your money instead where it grows at a higher rate than inflation.

Saving weaken the purchasing power while investment will increase the value of your money.

4. Learn taxes:

If you are rich and lack financial literacy, you will end up paying a lot of taxes.

The rich have their investments often in learning, so they have to pay fewer taxes.

You need to have financial IQ in different areas like accounting, investing, market forces, and the law.

5. Do not rely on a single source of income:

Most people rely on a single source of income.

You can never become rich and financially secure if you are one of those.

You should have 2 to 3 streams from where you earn money.

You will be in better position even if you face some financial crisis if you multiple income streams.

6. you become smarter by taking risk:

Unless you take a risk, you cannot grow, grow as in grow really big.

You should take a risk because some opportunities in life have the potential to change the course of your life.

7. Everyone needs to be a financially literate:

Intelligence solves problems and produces money.

Money without financial intelligence is money soon gone.

The sad part about the education system around the world is that it teaches to work for money.

The system never teaches how to make, manage, and keep the money.

You should learn how to create wealth and make a plan to achieve financial freedom.

8. Mindset is everything:

Poor dad always used to say” we can’t afford this “whereas rich dad teaches him to replace it with “how you can afford it?”.

In This way, replace your negative attitude into positive and you will definitely find ways to do achieve that target.

Your attitude and mindset matters the most.

The first and foremost thing to do anything is that you must believe in yourself.

9. Surround yourself with people smarter than you:

There is a very popular saying ‘If you are the smartest person in the room, then you are in the wrong room.’

If you want to be smart, surround yourself with people smarter than you.

10. Control emotions:

The situation only gets worse for you when you are not able to control your emotions.

The statement holds good for both personal and professional life situations.

You should learn to control your emotional balance and be focused on accomplishing your financial goals.