Volkswagen India accused of evading $1.4 billion in vehicle taxes
Unassembled vehicles imported into India are subject to tariffs of 30-35%, while individual components only pay tariffs of 5-15% go through Brad Anderson December 2, 2024 07:47 The automaker apparently declared imports of only individual car parts, not complete, unassembled cars. Volkswagen could be subject to fines and penalties of up to 100%. Tax authorities are not happy with Volkswagen's operations in India, accusing the company of evading $1.4 billion in taxes by improperly declaring auto parts for the Audi, Volkswagen and Skoda brands. In India, unassembled cars imported into the country are subject to 30-35% customs duties, and Volkswagen allegedly imports unassembled cars, but it only declares these imports as "single components," meaning it only pays 5-15% tariff. The major vehicles imported by the car manufacturing giant into India include Skoda Superb, Skoda Kodiaq, Volkswagen Tiguan, Audi A4 and Audi Q5. MORE: Volkswagen German workers continue 'warning' strike after pay cut talks fail Investigators raided three Volkswagen plants in…
Dutch businessman jailed for evading Russian sanctions
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EU: Evading anti-dumping duties – EPPO seeks jail time
On September 17, 2024, the European Prosecutor's Office (EPPO), the EU agency responsible for prosecuting financial crimes affecting the EU budget, announced that it was seeking criminal penalties of more than 8 years in prison and more than 8 years of imprisonment for two companies and their five directors. Fine of €25 million. More than 30 properties related to the defendants were seized to ensure that the defendants could meet their financial obligations. EPPO alleged that the defendants falsely declared steel plates imported from China that were subject to anti-dumping duties as imported slabs, while the slabs were semi-finished products that were not subject to anti-dumping duties. Although details of the case remain scarce, the EPPO has been stepping up enforcement activities, often working closely with the European Anti-Fraud Office (OLAF) and EU member state customs authorities. One in ten EPPO cases (ie approximately 100 cases per year) involves customs and anti-dumping fraud. In previous articles we warned of the…
Stellantis sues North Carolina dealer for evading mandatory buybacks
A Wilkesboro dealership pulled out of its contract with Stellantis and wants the automaker to buy back its stock, but the company says the dealership's "deceptive" behavior means it shouldn't comply go through Chris Chilton August 6, 2024 16:45 Stellantis has taken legal action against a North Carolina dealer to buy back $180 million worth of unsold fleet vehicles. Randy Marion Chrysler-Dodge-Jeep-Ram of Wilkesboro pulled out of its Stellantis sales and service contract in June and wants the automaker to buy back 3,841 vehicles. The automaker said dealers falsely stated the vehicles had been sold when they were ordered and wanted a legal ruling to relieve them of their buyback obligations. Stellantis is sitting on a mountain of inventory and recently disclosed a 48% drop in profits in the first six months of the year. So the last thing it wants to do is buy back nearly 4,000 unsold cars from a North Carolina dealer for $180 million. Stellantis is…
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