Kaipara aggravated robbery: Police search for gold Toyota Land Cruiser sightings
Police said three men reportedly assaulted a man before stealing his gold Toyota Land Cruiser from a property on Pouto Rd in Kaipara on July 18 about 1.45am.
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Express Tribune
37 minutes ago
- Express Tribune
Tax scam in faceless Customs clearance system
The Directorate General of Customs Post Clearance Audit (PCA) has uncovered large-scale under-invoicing and money laundering in the clearance of luxury vehicles through the faceless system. A shocking 127-page audit report has revealed what is being described as the largest trade-based money laundering scandal in Pakistan's history involving the import of luxury vehicles. According to the report, importers systematically undervalued the vehicles to evade billions of rupees in taxes. One of the most startling cases in the report involved a 2023 model Toyota Land Cruiser, which had a market value of over Rs10 million, but was cleared through customs at an absurdly low declared value of only Rs17,635, allegedly with the collusion of customs officers. The audit covered the period from December 2024 to March 2025 and reviewed post-clearance data of 1,335 imported vehicles. It found significant discrepancies between the declared and assessed values of the vehicles, with differences exceeding Rs. 1 million per vehicle in many cases. Importers declared the total import value of these vehicles as Rs. 670 million, while the actual value was found to exceed Rs. 7.25 billion. Due to this manipulation, importers paid only Rs. 1.29 billion in duties and taxes, while evading an estimated Rs18.78 billion in customs duties and taxes. According to the PCA report, not a single importer was able to provide proof that the payments for these vehicles were made through legal channels from abroad. This raised strong suspicions that payments were made through illegal hawala and hundi networks. The report further revealed that 99.8 percent of all Land Cruiser vehicles imported during the audit period were cleared using under-invoicing to evade taxes and duties. It warned that such organised under-invoicing not only results in massive tax evasion but also poses serious threats to Pakistan's financial system. These revelations come at a critical time, as Pakistan continues efforts to meet the compliance standards of international financial institutions, particularly the Financial Action Task Force (FATF) and the International Monetary Fund (IMF). The audit report has been forwarded to the Federal Board of Revenue (FBR), State Bank of Pakistan, and the Financial Monitoring Unit (FMU) for joint investigation and legal action against the network involved in this financial fraud.
Express Tribune
5 hours ago
- Express Tribune
SUV imported for Rs17,635, evading billions in taxes
The Directorate General of Customs Post Clearance Audit (PCA) has uncovered large-scale under-invoicing and money laundering in the clearance of luxury vehicles through the faceless system. A shocking 127-page audit report has revealed what is being described as the largest trade-based money laundering scandal in Pakistan's history involving the import of luxury vehicles. According to the report, importers systematically undervalued the vehicles to evade billions of rupees in taxes. One of the most startling cases in the report involved a 2023 model Toyota Land Cruiser, which had a market value of over Rs10 million, but was cleared through customs at an absurdly low declared value of only Rs17,635, allegedly with the collusion of customs officers. The audit covered the period from December 2024 to March 2025 and reviewed post-clearance data of 1,335 imported vehicles. It found significant discrepancies between the declared and assessed values of the vehicles, with differences exceeding Rs1 million per vehicle in many cases. Importers declared the total import value of these vehicles as Rs670 million, while the actual value was found to exceed Rs7.25 billion. Due to this manipulation, importers paid only Rs1.29 billion in duties and taxes, while evading an estimated Rs18.78 billion in customs duties and taxes. According to the PCA report, not a single importer was able to provide proof that the payments for these vehicles were made through legal channels from abroad. This raised strong suspicions that payments were made through illegal hawala and hundi networks. The report further revealed that 99.8 percent of all Land Cruiser vehicles imported during the audit period were cleared using under-invoicing to evade taxes and duties. It warned that such organized under-invoicing not only results in massive tax evasion but also poses serious threats to Pakistan's financial system. These revelations come at a critical time, as Pakistan continues efforts to meet the compliance standards of international financial institutions, particularly the Financial Action Task Force (FATF) and the International Monetary Fund (IMF). The audit report has been forwarded to the Federal Board of Revenue (FBR), State Bank of Pakistan, and the Financial Monitoring Unit (FMU) for joint investigation and legal action against the network involved in this financial fraud.
7NEWS
17 hours ago
- 7NEWS
iCaur V27: Chery takes on Toyota LandCruiser with range-extender EV
Chery has taken the wraps off the 2026 iCaur V27 SUV, a flagship Toyota LandCruiser -sized SUV due on sale in China by the end of 2025 but not yet confirmed for Australia. The large SUV is more than five metres long and uses an extended-range electric vehicle (EREV) powertrain for a claimed 200km of electric range, with pricing expected to be the equivalent of $43,000 to $54,000 in China, according to Revealed in the United Arab Emirates, the V27 comes from Chery-owned brand iCar, renamed iCaur for countries outside China to avoid potential trademark issues. The iCaur brand was confirmed for Australia by Chery International president Zhang Guibling at the 2025 Shanghai motor show in April. CarExpert can save you thousands on a new car. Click here to get a great deal. While the iCaur brand's local launch timing hasn't been revealed, the Suzuki Jimny -sized V23 small SUV (pictured below) is expected to be the first model in local showrooms – and the V27 could be next. Chery Australia has been more circumspect about iCaur's future in Australia. A company spokesperson told CarExpert: 'We have no news to share on the iCaur brand in Australia, but we are constantly evaluating what is available from our extensive global model lineups that Australian buyers are looking for.' The brand exclusively offers electric vehicles (EVs) and EREVs, with the V27 launched with a 1.5-litre turbocharged four-cylinder petrol engine and single-electric motor rear-wheel drive and dual-motor all-wheel drive (AWD) configurations. Chery confirmed the dual-motor AWD V27 will offer as much as 335kW of power and an estimated 200km range (CLTC) under electric power. The V27's boxy styling apes the Land Rover Defender, with the squared-off body decorated with round LED headlights, wheel-arch flares and tailgate mounted 'squircle' spare wheel. iCar/iCaur also offers the electric 03 SUV (pictured below), sold in Thailand as the Jaecoo 6 EV. Omoda Jaecoo was introduced in Australia earlier this year as Chery's second brand here, but the Chinese automaker has a bevy of other ones overseas including not only iCar/iCaur but also Exeed, Jetour and Karry, among others. Chery reported its best monthly sales yet in Australia in July 2025 – its fourth consecutive month of record sales – for its namesake brand. It recorded 267.4 per cent year-on-year growth to be the 11th most-popular brand, behind Subaru.
