A tax avoidance scheme involving UK-based ‘supercars’ being stolen and transported to Thailand has been shut down by Thai investigators
The scheme was set up to circumvent Thailand’s high levies on supercar imports, which can hit 328%.
A number of tactics were involved in avoiding tax: the supercars were often dismantled and shipped across as parts; customs officials were lied to about the car being imported; and the value of the car was often understated.
A Thai official said that more than 1,000 cars were involved in the tax scam, and had been a long-running practice. An estimated 38 vehicles were stolen from the UK, with a value of £2.3m. The cars stolen included Lamborghinis, Porsches and BMWs.
One dealership owner in Bangkok has sued Thai investigators after cars were seized and their showroom shut down.