Phoney car invoices costing dealers, Govt 'thousands'

Wed, Aug 25th 2010, 12:00 PM

By NEIL HARTNELL Tribune Business Editor ESTABLISHED Bahamian auto dealers yesterday said they and the Public Treasury were losing "thousands of dollars" a year due to individuals, including some foreigners, selling imported used cars below their prices through the submission of false invoice amounts that dramatically lowered Customs duty payments. Brent Fox, proprietor of Montague Motors, told Tribune Business that the problem was "pretty widespread and getting out of hand", with the Customs Department seemingly aware that invoices with false purchase prices were being submitted but unable to make much progress in their investigations. Taking the Toyota Harrier model as an ...

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