Punishment will be given to the importers who forged papers to import cars by overseas Vietnamese. Photo otofun.net

HA NOI (Biz Hub) – Phuong Nam Company in HCM City has denied being involved in the import of five luxury Lexus cars registered as assets of Overseas Vietnamese, according to Da Nang Customs Office.

The law allows overseas Vietnamese settling down here to import their used cars or motorbikes without paying import and value-added taxes.

The cars in question, including three Lexus LX 570, one Lexus GX 460F and one Lexus RX 350, were sent to Phuong Nam Company from Oakland in the United States and from Hongkong.

In letters sent to the Da Nang Customs Office, the company said that the cars were sent to the wrong address.

The case is being investigated by the General Department of Customs and Investigation Police Agency of the Ministry of Public Securities.

If the importers fail to prove the cars were the "used" assets of overseas Vietnamese settling down in Viet Nam, the cars will be declared illegal imports.

The office said that if the cars had been imported under normal rules, the State would have collected tens of billions of dong in taxes.

At present, 21 cars registered as assets of returning Vietnamese are being held at Da Nang Port. Insufficient proof has been provided to date on their tax-free status.

Customs statistics show that 178 used cars imported by overseas Vietnamese are being held at ports around the country.

Deputy Director of Vietnam Customs Nguyen Van Can said those found to have abused car import rules will be reported to Customs' Anti-smuggling Investigation Department.

Can said the Ministry of Finance importers who forged papers to import cars would be charged criminal liability. The imported cars may also be confiscated. — VNS