Sri Lanka earns millions from Lamborghini cars imported without tax: Finance Minister
Jun 12, 2015 11:24 AM GMT+0530 | 2 Comment(s)
COLOMBO (EconomyNext) - Sri Lanka has earned hundreds of millions of rupees from Lamborghini sports cars which were brought into the country during the last regime without paying taxes, Finance Minister Ravi Karunanayake said.
Eurosports, a Colombo based firm, had brought three cars into the country without paying tax saying it was being brought for an exhibition for one month and had been kept for 16 months.
"You know who used the Lamborghini," Karunanayake told reporters in Colombo. "Who gave them permission to bring it in and hold it without paying taxes for such a long time?
"This is an absolute case of political patronage. Somebody thinks it is helpful to get one of the young puppies to drive a Lamborghini."
Karunanayake said authorities had discovered three cars when attempts were made to re-export them last week.
A bank guarantee had been invoked and the 279 million rupees was earned though the firm had tried to get a court order to stop it.
Though there was an option to confiscate the cars but it was not done, Karunanayake said.
Eurosports is part of Micro cars which is also engaged in local assembly of cars. Local assembly of cars is one reason for revenue leakage.