Customs Dept puts 315 luxury vehicles up for auction, reviews import regs
The Customs Department will put more than 300 impounded luxury vehicles through an auction tomorrow, and is reviewing regulations related to the import of such high-end autos, Kreecha Kirdsriphan, deputy spokesman of the agency, said on Tuesday.
The move to change import regulations is aimed at collecting more taxes from the importers of luxury vehicles, as the existing regulations may have a loophole that importers exploit in order to pay less than the correct amount of duty, he said.
The department will hold a public hearing on the new regulations next month.
Meanwhile, it will auction 315 luxury cars, motorcycles and big bikes tomorrow – all of them vehicles that have been seized by Customs officials because importers did not pay the correct import duty on them.
The most expensive car up for auction is a Ferrari, for which the department has set an initial price of Bt20 million, Kreecha said.
It expects to generate Bt550 million in total from the auction, he said, adding that the agency will also return 95 stolen cars to their owners.
