Pretoria, Wednesday 29 March 2017 – SARS Customs officials intercepted a Ferrari F1, worth an estimated R13.8 million, which was being smuggled back into the country after it had been stored at a bonded warehouse in South Africa since 2014.
When it was first brought into the country, the owner failed to follow correct import procedures including paying the necessary customs duties and VAT. As a result, the vehicle stayed in a bonded warehouse for three years because the owner could not finalise the required customs processes.
Then in February 2017, the vehicle owner submitted an export declaration to take the car to the Democratic Republic of Congo through Beitbridge border post. A day later, there was an attempt to have the vehicle return to South Africa through the same border post.
The vehicle has been detained and a letter of intent was issued to the owner as part of the Promotion of Administrative Justice Act No 3 of 2000 to enable them to make representation to SARS