Taxman swoops on R13.8 million Ferrari


Taxman swoops on R13.8 million Ferrari

Graeme Hosken | 2017-03-30 11:22:06.0

The Ferrari LaFerrari

Image by: ©Ferrari

A man never parts with his wheels‚ no matter what. Unless‚ of course‚ the taxman comes knocking.

Last month eagle-eyed South African tax officials swooped on the owner of a supercar at Beit Bridge border post‚ as he tried to smuggle his R13.8 million Ferrari LaFerrari back into the country.

The owner‚ who the SA Revenue Service declined to name‚ had in February told SARS that he was taking his vehicle‚ which had been stored in a bonded warehouse for the past three years‚ to the Democratic Republic of Congo.

The Ferrari was seized three years ago when he first brought it into South Africa‚ said SARS spokesman Sandile Memela.

He said the car was seized because the owner had failed to follow correct import procedures‚ including paying the necessary customs duties and VAT.

“As a result‚ the vehicle stayed in a bonded warehouse for three years because the owner could not finalise the required customs processes.”

Memela said in February the owner submitted an export declaration to take the car to the DRC through Beit Bridge border post.

“A day later‚ there was an attempt to have the vehicle returned to South Africa through the same border post. The car was intercepted as it was being smuggled back into the country. It has been detained.”

He said that the owner had been contacted and ordered to make representations about what his intentions were in terms of paying the customs and excise duties.

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