Buyer's Guide for Transactions
Automark Select ensures transparency and ease in the transaction process for vehicles, catering to individual and corporate buyers. Below is a detailed guide for the documentation and financial implications across various purchase scenarios:
1. An individual purchasing a vehicle registered to a company
- Tax Invoice:The seller issues a tax invoice to the buyer, which includes VAT, relevant to company transactions.
- Sales Agreement:A sales agreement is provided, outlining the sale terms and vehicle details, ensuring both parties are clear on the transaction's specifics.
- Transfer:A 1% stamp duty fee on the sale price is applicable for the registration transfer, payable to TRA.
2. A company purchasing a vehicle registered to a company
- Tax Invoice:The selling company issues a tax invoice to the buying company, facilitating tax documentation and reporting.
- Sales Agreement:A sales agreement complements the tax invoice, outlining the sale terms and vehicle details, ensuring both parties are clear on the transaction's specifics.
- Transfer:A 1% stamp duty fee on the sale price is applicable for the registration transfer, payable to TRA.
3. A company purchasing a vehicle registered to an individual
- Tax Invoice:No Tax invoice is provided by the seller in this scenario.
- Sales Agreement:This transaction is facilitated by a sales agreement since VAT invoices are not issued by individual sellers. The agreement outlines the sale terms and vehicle details, ensuring both parties are clear on the transaction's specifics.
- Transfer:A 1% stamp duty fee on the sale price is applicable for the registration transfer, payable to TRA.
4. An individual purchasing a vehicle registered to an Individual
- Tax Invoice:No Tax invoice is provided by the seller in this scenario.
- Sales Agreement:The primary document for individual-to-individual transactions is the sales agreement, detailing sale terms and vehicle information, with no VAT invoice involved.
- Transfer:A 1% stamp duty fee on the sale price is applicable for the registration transfer, payable to TRA.