Duty and tax avoidance device and system
First Claim
Patent Images
1. A machine consisting of:
- a) a computer comprising sufficient hardware, software, peripherals, necessities and/or accessories for transformation of data, programmed to perform the following process, the process consisting of;
b) receiving or causing to be received by processor of the computer an inquiry from a Tax Exempt Entity, identified as acronym TEE;
c) verifying, receiving verification or causing to be verified by the processor of the computer, that the inquiry is a TEE;
d) allowing or causing to allow the TEE to select the vehicle/product/good to be used and duration of use desired from the operator of the computer;
e) receiving or causing to be received by the processor of the computer a provisional offer from the TEE to enter into a Duty Free Synthetic Lease, identified as acronym DFSL, with the processor of the computer for the vehicle/good/product selected in step (e) above;
f) accepting or causing to be accepted the provisional offer from the TEE by the processor of the computer;
g) calculating or receiving a calculation of the actual use fee or fees to be paid by the TEE to the processor of the computer over the period of use;
h) communicating or causing to be communicated to the TEE by the processor of the computer the actual use fee or fees determined in step (g) above;
i) receiving or causing to be received by the processor of the computer a firm offer from the TEE based on the actual use fee determined in step (h) above;
j) accepting or causing to be accepted by the processor of the computer the firm offer from the TEE;
k) generating by the processor of the computer the DSFL document package including a Duty/Tax Free Certificate, a Master Use and Service Agreement for Motor Vehicles, a Vehicle Return Condition Agreement, a Maintenance Service Agreement, an Overseas Loss/Damage Motor Insurance Certificate, a Registration Book for Private Vehicle, a Transfer of Ownership of Motor Vehicle or Trailer, a New/Used Unit Delivery Note, and a Comprehensive Cover;
l) generating and displaying by the processor of the computer the DSFL document package and Duty/Tax Free Certificate to the TEE for at least one signature indicating legally enforceable acceptance of the DFSL;
m) receiving or causing to be received by the processor of the computer the executed document package with payment from the TEE;
n) transferring or causing to transfer the title by the processor of the computer of the vehicle/product/good to the TEE;
o) delivering or causing to be delivered by the processor of the computer to the TEE the Tax/Duty Free Certificate and executed copies of the DSFL document package;
p) generating by the processor of the computer the vehicle/product/good to the TEE for use in compliance with the DFSL;
q) receiving or causing to be received by the processor of the computer periodic payments from the TEE for using the vehicle/product/good for the duration of use;
r) receiving or causing to be received by the processor of the computer the vehicle/product/good from the TEE at the end of the use period.
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Abstract
A device, system and method for duty and tax avoidance is disclosed for a computer-implemented process for converting import tax and duty cost on at least one vehicle/product/good from a taxable entity to a no-cost import tax and duty cost for a Tax Exempt Entity, identified as acronym TEE.
12 Citations
4 Claims
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1. A machine consisting of:
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a) a computer comprising sufficient hardware, software, peripherals, necessities and/or accessories for transformation of data, programmed to perform the following process, the process consisting of; b) receiving or causing to be received by processor of the computer an inquiry from a Tax Exempt Entity, identified as acronym TEE; c) verifying, receiving verification or causing to be verified by the processor of the computer, that the inquiry is a TEE; d) allowing or causing to allow the TEE to select the vehicle/product/good to be used and duration of use desired from the operator of the computer; e) receiving or causing to be received by the processor of the computer a provisional offer from the TEE to enter into a Duty Free Synthetic Lease, identified as acronym DFSL, with the processor of the computer for the vehicle/good/product selected in step (e) above; f) accepting or causing to be accepted the provisional offer from the TEE by the processor of the computer; g) calculating or receiving a calculation of the actual use fee or fees to be paid by the TEE to the processor of the computer over the period of use; h) communicating or causing to be communicated to the TEE by the processor of the computer the actual use fee or fees determined in step (g) above; i) receiving or causing to be received by the processor of the computer a firm offer from the TEE based on the actual use fee determined in step (h) above; j) accepting or causing to be accepted by the processor of the computer the firm offer from the TEE; k) generating by the processor of the computer the DSFL document package including a Duty/Tax Free Certificate, a Master Use and Service Agreement for Motor Vehicles, a Vehicle Return Condition Agreement, a Maintenance Service Agreement, an Overseas Loss/Damage Motor Insurance Certificate, a Registration Book for Private Vehicle, a Transfer of Ownership of Motor Vehicle or Trailer, a New/Used Unit Delivery Note, and a Comprehensive Cover; l) generating and displaying by the processor of the computer the DSFL document package and Duty/Tax Free Certificate to the TEE for at least one signature indicating legally enforceable acceptance of the DFSL; m) receiving or causing to be received by the processor of the computer the executed document package with payment from the TEE; n) transferring or causing to transfer the title by the processor of the computer of the vehicle/product/good to the TEE; o) delivering or causing to be delivered by the processor of the computer to the TEE the Tax/Duty Free Certificate and executed copies of the DSFL document package; p) generating by the processor of the computer the vehicle/product/good to the TEE for use in compliance with the DFSL; q) receiving or causing to be received by the processor of the computer periodic payments from the TEE for using the vehicle/product/good for the duration of use; r) receiving or causing to be received by the processor of the computer the vehicle/product/good from the TEE at the end of the use period.
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2. A computer-implemented process for converting import tax and duty cost on at least one vehicle/product/good to a no-cost import tax and duty cost, the steps consisting of:
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a) providing a computer comprising sufficient hardware, software, peripherals, necessities and/or accessories for transformation of data; b) receiving or causing to be received by processor of the computer an inquiry from a Tax Exempt Entity, identified as acronym TEE; c) verifying, receiving verification or causing to be verified by the processor of the computer, that the inquiry is a TEE; d) allowing or causing to allow the TEE to select the vehicle/product/good to be used and duration of use desired from the processor of the computer; e) receiving or causing to be received a provisional offer from the TEE to enter into a Duty Free Synthetic Lease, identified as acronym DFSL, with the processor of the computer for the vehicle/good/product selected in step (d) above; f) accepting or causing to be accepted by the processor of the computer the provisional offer from the TEE; g) calculating or receiving a calculation of the actual use fee or fees to be paid by the TEE to the processor of the computer over the period of use; h) communicating or causing to be communicated by the processor of the computer to the TEE the actual use fee or fees determined in step (g) above; i) receiving or causing to be received by the processor of the computer a firm offer from the TEE based on the actual use fee determined in step (f) above; j) accepting or causing to be accepted by the processor of the computer the firm offer from the TEE; k) generating by the processor of the computer the DSFL document package including a Duty/Tax Free Certificate, a Master Use and Service Agreement for Motor Vehicles, a Vehicle Return Condition Agreement, a Maintenance Service Agreement, an Overseas Loss/Damage Motor Insurance Certificate, a Registration Book for Private Vehicle, a Transfer of Ownership of Motor Vehicle or Trailer, a New/Used Unit Delivery Note, and a Comprehensive Cover; l) transmitting or causing to be transmitted by the processor of the computer the DSFL document package and Duty/Tax Free Certificate to the TEE for at least one signature indicating legally enforceable acceptance of the DFSL; m) receiving or causing to be received by the processor of the computer the executed document package with payment from the TEE; n) transferring or causing to transfer of title of the vehicle/product/good by the processor of the computer to the TEE; o) delivering or causing to be delivered by the processor of the computer to the TEE the Tax/Duty Free Certificate and executed copies of the DSFL document package; p) processing the vehicle/product/good by the processor of the computer to the TEE for use in compliance with the DFSL; q) receiving or causing to be received by the processor of the computer periodic payments from the TEE for using the vehicle/product/good for the duration of use; r) receiving or causing to be received by the processor of the computer the vehicle/product/good from the TEE at the end of the use period.
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3. A computer-implemented process for converting import tax and duty cost on at least one vehicle/product/good from a taxable entity to a no-cost import tax and duty cost for a Tax Exempt Entity, identified as acronym TEE, the steps consisting of:
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providing a computer comprising sufficient hardware, software, peripherals, necessities and/or accessories for transformation of data; processing unique information concerning import tariff, duty and/or tax information on at least one vehicle/product/good for a desired country in the world and extracting import tariff, duty and/or tax information on at least one vehicle/product/good for a desired country in the world for a taxable entity from a database; processing unique information about a Tax Exempt Entity, identified as acronym TEE; processing the information for the financial consequences of converting the given import tariff, duty and/or tax information on at least one vehicle/product/good for a desired country by a taxable entity and, for comparison, generating and displaying by the computer (a) the import taxes avoided by using the TEE to hold title of the vehicle/product/good prior to importation of the vehicle/product/good into the desired country, and generating and displaying by the computer (b) the lease taxes avoided by using the TEE to hold title of the vehicle/product/good prior to importation of the vehicle/product/good into the desired country subject to a vehicle/product/good use agreement, and generating and displaying by the computer (c) the income taxes avoided by the taxable entity by using the TEE to hold title of the vehicle/product/good after importation of the vehicle/product/good into the desired country subject to a vehicle/product/good use agreement, and for comparison, generating and displaying by the computer (d) the total taxes avoided by the taxable entity by using the TEE to hold title of the vehicle/product/good after importation of the vehicle/product/good into the desired country subject to a proposed vehicle/product/good use agreement, and, if accepted by the TEE, generating by the computer via an output means a document package including at least one vehicle/product/good use agreement, at least one NOTICE OF ASSIGNEMENT ASSIGNING THE LEGAL RIGHTS OF THE VEHICLE/PRODUCT/GOOD TO A BANK AND/OR A VEHICLE/PRODUCT/GOOD PROVIDER, at least one vehicle/product/good return conditions form, at least one Fleet Service Contract, at least one Insurance Policy for the vehicle/good/product, at least one Original Log book of the vehicle/good/product, at least one Signed Transfer Form for the vehicle/product/good log book, at least one Signed Delivery Note, and, at least one Duty/Tax Free Certificate and generating by the computer optional additional documentation to cover service and maintenance extra charges and procedures in remote areas of use of the vehicle/good/product.
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4. A computer program product, consisting of a non-transitory computer usable medium having a computer readable program code embedded therein, said computer readable program code adapted to implement a method for generating a document package for avoiding import duty and/or taxes of a vehicle/good/product provider for the transfer of title into a Tax Exempt Entity, identified as acronym TEE, prior to importation to a desired country in the world, the title transfer also comprising a document package resulting in a Duty/Tax Free Certificate identifying the tax-free legal status of the importation, use and income of the vehicle/good/product, the method performed at least in part within a signal processing device and consisting of:
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providing a non-transitory computer usable medium consisting of sufficient hardware, software, peripherals, necessities and/or accessories for transformation of data; transferring title from a taxable vehicle/good/product provider entity in a Free Trade Zone to a Tax Exempt Entity, identified as acronym TEE; generating via a document package including at least one vehicle/product/good use agreement, at least one NOTICE OF ASSIGNEMENT ASSIGNING THE LEGAL RIGHTS OF THE VEHICLE/PRODUCT/GOOD TO A BANK AND/OR A VEHICLE/PRODUCT/GOOD PROVIDER, at least one vehicle/product/good return conditions form, at least one Fleet Service Contract, at least one Insurance Policy for the vehicle/good/product, at least one Original Log book of the vehicle/good/product, at least one Signed Transfer Form for the vehicle/product/good log book, at least one Signed Delivery Note, and, at least one Duty/Tax Free Certificate; importing the vehicle/product/good with the TEE in title of the vehicle/product/good; using the vehicle/product/good by the TEE; paying the vehicle/product/good provider a fee for using the vehicle/product/good free of taxes, and; depositing the extra profit generated by the title transfer from the vehicle/product/good provider to the TEE prior to importation into a desired country in cash into a bank account for the benefit of the vehicle/product/good provider.
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Specification