7 firms fingered in supercar tax evasion
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The Anti-Money Laundering Office (AMLO) has found seven major vehicle importers fudging their financial figures to evade taxes, including one suspected of involvement in the recent accidental burning of exotic cars being trucked in Nakhon Ratchasima.
The seven firms actually had sales worth over Bt11 billion in 2011 but stated only Bt4 billion, denying the country tax income from these imports, AMLO chief Sihanart Prayoonrat said yesterday in reporting on his agency’s progress in checking the transactions of 222 luxury auto importers.
AMLO would proceed with probing 200 other companies and submit the results to the Revenue Department to audit them and collect back-taxes from them.
If the Customs Department confirms that these companies also falsely declared items or their values they would be also guilty of violating the anti-money laundering law and their assets could be seized. The case of the burned cars is being handled separately by the Department of Special Investigation.
