These cars were imported to the country for demonstration purpose in the company show room in early 2013.
Sri Lanka customs department has recovered a sum of Rs. 278 million as duties and fines from the company which was allegedly have been exploited loop holes to evade customs duties, Finance Minister Ravi Karunanayake allege.
The Sri Lanka Customs action to prevent the re-exporting of three Lamborghinis brought down for demonstration purposes by Euro Sports Auto Lanka has been thwarted by an interim order issued by the Appeal Court last month.
The department has already en-cashed the bank guarantee of the company after issuing pay orders to Sampath Bank, NDB Bank and Seylan Bank.
That a court case is pending at the Appeal Court and the department is waiting for its determination to take appropriate action against the company.
They have recovered necessary duties and fines from the company by en-cashing the bank guarantee before the filing of the court case by Euro Sports Auto Lanka.
The Customs Department has turned down the request to re-export made by the company in a letter dated May 26 directing to pay all applicable taxes for the vehicles within ten days.
The company in its petition filed at the Appeal Court stated that it came to know the banks have issued pay orders favouring the Director General Customs to present the same for payment on June 3.
If the pay orders are presented for payment and the accounts of the company are debited by banks, heavy damage would be caused to the company, the petition pointed out.
Considering the contents of the petition, the Appeal Court has issued an interim order staying the operation of the Customs DG letter dated 26 May 2015 and restraining the department from claiming any sum of money on the bank guarantees.
Finance Minister Ravi Karunanayake told that these vehicles were imported in 2013 for display at the company show room for three months and thereafter re-export it with the permission of the Customs DG without paying custom duties and they have made request recently to re-export it.
When contacted Chairman of MicroCars and Euro Sports Auto Lanka (Private) Ltd, Dr. Lawrence Perera noted that he cannot make any comments as the court case is pending.
He added that the company took measures to import these vehicles to boost the image of the country and open avenues for youths to learn mechanics of sophisticated cars.
He has not received any un due benefits by importing and displaying theses vehicles from the previous regime and the country has gained investor and tourist confidence as a result of his efforts.
He said that he is ready to pay any taxes due to the customs but it should be reasonable.
However he pointed out that the demands of the customs were malice and vehicles were imported under temporary basis. Necessary approvals were given to extend the period of re-exportation he added.
Euro Sports has displayed three Lamborghinis for sale in Sri Lanka, he said adding that the manufacturing company gets around Rs. 25 million per vehicle and that the Sri Lankan government stands to gain around Rs. 65 million as tax revenue.
A Lamborghini could be sold in Sri Lanka for around Rs. 91 million. The brand name Lamborghini has become highly popular worldwide due to its high technology.
