सिंहदरबार संवाददाता
Kathmandu. Electric vehicle seller Cymax Inc. Pvt. Ltd. has been making a profit of Rs. 1.5 million on the sale of a single vehicle. As the attraction towards electric vehicles has been increasing in Nepal in recent times, investors have become rich.
It has been found that sellers are making more profit on BYD’s Dolphin model. According to the data of the Ministry of Finance, Cymax Inc. has opened an LC (letter of credit) for BYD Dolphin model from a bank for 109,700 yuan. This vehicle was purchased from BYD Auto. Industry Co. Ltd. of China. The vehicle’s parts are brought from BYD Hong Kong Co. Ltd. (BYD.HK.co ltd). According to the exchange rate on Tuesday (Falgun 27), 1 Chinese yuan is equal to 19.29 rupees.
In this way, 1 lakh 9 thousand 700 yuan comes to 21 lakh 16 thousand 113 rupees. On this price, customs duty of 15 percent and excise duty of 20 percent, totaling 4 lakh 27 thousand 769 rupees, has been paid.
A customs duty of 23 hundred yuan (44 thousand 367 rupees) has been declared for the car charger. Similarly, a customs duty of 700 yuan (13 thousand 503 rupees) has been declared for the car chips. Thus, the total price paid by the importer in China and the price paid at customs is 26 lakh 1 thousand 752 rupees.
The car seller has set a price of 41 lakh 15 thousand rupees for this Dolphin model car. In this way, the importer has kept 15 lakh 13 thousand 248 rupees including road expenses, value added tax and profit, apart from customs. If VAT is added at 13 percent, it comes to 3 lakh 38 thousand 227 rupees. If it costs an estimated 1 lakh 50 thousand to bring a car from China to Nepal, the total cost of the car comes to 3 lakh 89 thousand 979. In this way, it is seen that the importer has kept a net profit of 1 lakh 25 thousand on a single car.
The government has amended the Black Market and Certain Other Social Crimes and Punishment Act 2032. This act had a provision that the total profit of the trader could not exceed 20 percent of the investment. But now, after this provision was amended, the way for traders to make any profit is open.
Young businessman Yamuna Shrestha holds 50.5 percent and Anil Shrestha holds 49.5 percent shares in Cymex Inc. The company had a business of 69 million in the current year 2021. Similarly, in 2022, it had a business of 441 million, and in 2023, it had a business of 1.913 billion. Similarly, in 2024, the company had a business of 9.935 billion in 11 months. Investors are investing the profits earned from vehicle sales in hotels and real estate.
There have been allegations of kilowatt fraud in BYD vehicles sold in Nepal. The Revenue Investigation Department is investigating the alleged revenue fraud of billions in BYD’s Auto-3 imports.
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