Overhaulin'

Need Help Re: Sale of Diplomatic/Tax-Exempt Vehicle?

Hey guys, I'm hoping you could help me with my problem. Here are the details. I am an employee of the Department of Foreign Affairs and I was assigned to work as a diplomat in a Philippine Embassy in the Middle East last 1999. Last year, I bought a car. I was recalled this year and had to return to the Philippines. I brought my car with me knowing the fact that Filipino diplomats have the privilege under the law of being exempt from tax payment for bringing in vehicles from outside the country. Now, I would like to sell my vehicle. However, I was informed that I cannot do so within three years from arrival of the vehicle in the Philippines. Moreover, I was also told that If I sell my car to a private citizen, such private citizen will have to pay the tax (which was exempt) in addition to our agreed price. Therefore, this means that I need to sell my car way lower than its actual price so that our agreed price + tax payment will be equal to its actual market value/price, otherwise no one will be interested in buying my car. SO... a) Can I sell my vehicle to private citizens? b) Do I have to pay the tax (which was exempt) if I sell my vehicle? If yes, how much? Additional significant info will be appreciated! Thanks and Merry Christmas!

Public Comments

1. Should have sold it when you were a diplomat. Now it will be taxed. Maybe sell it to another private citizen and hope its not reported.