Kathmandu. Electric vehicle sellers in Nepal have been selling vehicles at high profits. The tax exemption given by the government has not been transferred to the consumer, but only the sellers have benefited.
BYD vehicle seller Sykes Inc. Pvt. Ltd. has been found to make a profit of 15 to 27.5 lakhs on the sale of a single vehicle. It has been found that the company makes a profit of 27.64 lakhs on the sale of a single vehicle on the BYD Atto-3, which is the company’s best-selling model.
According to the details of the Ministry of Finance, the company has paid 147 thousand yuan to China’s BYD Auto Industry Co. Ltd. to purchase a BYD Atto-3 vehicle from China. According to the Nepalese exchange rate (Baishakh 8), 1 Chinese yuan is equal to 18.70 rupees. Thus, the company has spent Rs 2,748,333 in the Chinese market to purchase a BYD Auto-3.
Similarly, it has spent 2,300 yuan or 43,000 rupees for chips (SIM cards). It has paid 7,000 yuan or 13,087 rupees for the charger. According to the details of the letter of credit (LC) opened by Prabhu Bank Limited, the company has spent a total of 150,000 yuan or 2,84,523 rupees to purchase a BYD Auto-3.
Although the company initially announced that this vehicle had a capacity of 150 kilowatts, it later brought it as 99 kilowatts to evade taxes. If this vehicle were to be cleared at the actual 150 kW, then this vehicle would have had to pay a total of 50 percent of the revenue, including 30 percent of the customs duty and 20 percent of the excise duty. However, the Revenue Investigation Department under the Prime Minister’s Office claims that the company has now cheated by submitting documents that have reduced the kW by 15 percent per vehicle, that is, Rs 412,299 per vehicle.
According to 9900 kW, the company has to pay 20 percent of the customs duty and 15 percent of the excise duty per vehicle. Accordingly, the company has paid 20 percent of the customs duty, or Rs 549,666, per vehicle.
Similarly, it has paid a total of Rs 961,965, including 412,299 of the 15 percent excise duty. Thus, the total cost of this vehicle, including Chinese market and taxes, is Rs 3,766,488. If we assume that it costs Rs 250,000 to bring a vehicle from China to Kathmandu (estimated cost), then the cost of this vehicle does not exceed Rs 4,16,000. However, the company has priced this vehicle at the face value of the top variant at Rs 6,780,000. In this way, it has been found that a profit of up to Rs 2,764,000 has been made on a single vehicle. Similarly, in BYD’s Dolphin model, the company has been making a profit of Rs 1.5 million per vehicle.
The government has amended the Black Market and Certain Other Social Offenses and Punishment Act, 2032. In this act, there was a provision that the total profit of the trader could not exceed 20 percent of the investment. But now, after this system was revised, the way for traders to make any profit is open.
Young businessman Yamuna Shrestha owns 50.5 percent and Anil Shrestha owns 49.5 percent of the shares in the car sales company Cymax Inc. The company had a turnover of 69 million in 2021. Similarly, in 2022, it had a turnover of 441 million and 1.913 billion in 2023. Similarly, in 2024, the company had a turnover of 993 million in 11 months. Investors are expanding their investments in hotels and real estate with the profits earned from car sales. .
Profit of Rs 1.5 million on sale of BYD’s Dolphin vehicle, investor becomes rich
https://singhadarbar.com/%e0%a4%95%e0%a4%be%e0%a4%b2%e0%a5%8b%e0%a4%ac%e0%a4%9c%e0%a 4%be%e0%a4%b0-%e0%a4%90%e0%a4%a8-%e0%a5%a8%e0%a5%a6%e0%a5%a9%e0%a5%a8-%e0%a4%86%e0%a 4%95%e0%a4%b0%e0%a5%8d%e0%a4%b7%e0%a4%bf%e0%a4%a4/
https://singhadarbar.com/%e0%a4%ac%e0%a5%80%e0%a4%b5%e0%a4%be%e0%a4%88%e0%a4%a1%e0%a5%8 0%e0%a4%95%e0%a5%8b-%e0%a5%a7%e0%a5%a6%e0%a5%a6%e0%a5%a6-%e0%a4%97%e0%a4%be%e0%a 4%a1%e0%a5%80%e0%a4%ae%e0%a4%be-%e0%a5%ab%e0%a5%aa/
प्रतिक्रिया दिनुहोस्