Landing value of cars manipulated


  • Nation
  • Thursday, 21 Jul 2005

CERTAIN cars were being declared with a landing value that was 10 times lower than their price tag, Kosmo! reported. 

The report said the landing value for a Subaru Impreza had been declared as RM20,000 when the car was being sold for RM201,000. 

This was revealed by a copy of an approved permit to import the car, obtained by the newspaper. 

Another AP showed that a used Mini Cooper, sold for between RM140,000 and RM190,000, was declared a landing value of RM16,000. 

Quoting sources, the report said an importer would order a certain number of cars from a foreign manufacturer and pay half the amount for the order. 

He would then order a second batch of cars while paying the remainder for the first batch. The exporter would then send an invoice to the importer for the second batch of cars. 

“This means that the so-called value that is declared to the Royal Customs Department is only half the actual value of the car,” the source added. 

“The amount of tax imposed is based on the discounted value and not the actual value of the car, resulting in the Government earning less than what it should be getting,” he added. 

Berita Harian reported that International Trade and Industry Ministry secretary-general Datuk Sidek Hassan, who is also chairman of the ministry's AP Issuing Committee, said he signed all APs, not the minister because she was not a member of the committee.  

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