Euro Auto faces trade fraud fines

Friday, Aug 24, 2018 07:56

Hundreds of BMWs were exported from the country using false invoices and packing lists given to customs by Euro Auto JSC. — VNA/VNS Photo Kieu Oanh

The Ministry of Finance plans to fine Euro Auto JSC, the former official BMW importer in Viet Nam, for trade fraud and issuing false invoices to the customs department.

The ministry has asked Prime Minister Nguyen Xuan Phuc to fine the firm from VND40 million to VND80 million (US$1,760-3,500) and allow it to confiscate all fake documents and invoices used for customs clearance for the vehicles.

According to regulations, the 133 cars were ineligible for import into Viet Nam. The company could re-export the vehicles out of Vietnamese territory and receive all the tax paid on the shipment.

The ministry said neither it nor the General Department of Customs could reauthorise the firm to start importing BMWs again, and such a move would need the PM’s approval.

Last year, Euro Auto JSC was found to have sold cars without customs clearance and failed to provide certificates of origin (C/O) and import documents. After that all 571 cars were re-exported from the country.

Relevant to this case, the Ministry of Public Security prosecuted three defendants for smuggling, namely CEO Nguyen Dang Thao, Euro Auto official Nguyen Thi Minh Yen, and Tran Hai Dang, deputy director of Viet A Company, which performed customs procedures for Euro Auto.

On June 4, the Supreme People’s Procuracy decided to bring the three defendants to trial.

Truong Hai Auto Corporation (THACO) is the new official importer of BMW and MINI vehicles in Viet Nam. — VNS

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