Hyderabad: Many luxury cars in the city were reduced as used cars with the entire corrupt system to complete tax avoidance and other cost benefits, officials said.
Authorities say that more than 1,000 luxury cars, which cost more than Rs 4 Crore Plying in the city, even as an enforcement authority approaching the center to wear plans to capture more luxury cars in the state without paying taxes in the state without paying taxes.
Right from Ferraris to a super expensive roll of Royce Phantom, the city has a good number of vehicles on the road.
The first foreclosure of a luxury car in the city was carried out two days ago when 15 cars were arrested, where 11 was found plying without paying road tax.
Luxury cars imported costs anywhere between Rs 5 Crore and Rs 15 Crore.
However, all the cars captured by the wing of the authority of road transportation authorities are used cars at an average cost of Rs 4 Crore.
So how does the cost derived by the average Rs 2 Crore depending on the overall cost of the car? Non-payment of life tax or registering in countries where minimal tax is one way, which seems to have been used by almost 11 vehicles.
Another way is to buy a car as a used vehicle, shows the overall reduction in the invoice price.
“Luxury cars are a completely different segment.
Usually someone who is able to buy a luxury car does not go for used vehicles.
Although it is possible to get used cars for cheaper, buyers prefer to buy new ones from the right places that can be brought far away less than its original value.
This is done by underestimating the car and get permission through customs and avoid road taxes, “explained the inside of the luxury car industry.
West Asia, incidentally, is the biggest exporter of these cars – many times used almost for days before being included for sale.
Also, luxury car buyers like to rotate their cars often – almost every six months – which gives them other reasons to avoid taxes.
“This part of the buyer is usually prosperous and young.
For them to improve the car every few months almost given and therefore many try to avoid taxes because they do not intend to keep them long,” another source added.
HYD: Luxury cars often buy ‘2nd hand’ to avoid taxes
