Nguyen Dang Thao, CEO of Euro Auto, the BMW distributor in Vietnam, and other colleagues have been arrested, by the police in order to investigate the use of fake papers in importing BMW car units. In November 2016, the Ministry of Finance (MoF) accused Euro Auto of submitting counterfeit documents when importing BMW cars into Vietnam. The ministry asked the General Department of Vietnam Customs to stop the custom clearance of BMW units imported by Euro Auto starting from the end of 2016, and proposed the Supreme People’s Court to start proceedings against the company for using fake papers and illegally importing cars. Afterwards, a representative of BMW AG from Germany arrived to Vietnam to join in the investigation and then confirmed with MoF that some of the papers that Euro Auto used for the customs procedure had not been provided by BMW AG. In 2013 Euro Auto was charged VND80 billion ($3.51 million) in tax arrears by the Department of Customs of Ho Chi Minh City because of discrepancies between the contract it submitted for use in customs procedures and the contract it actually used in its actual transactions through HSBC. However, Euro Auto appealed to the Ho Chi… Read full this story
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