The number of grey-market vehicles exported to China since 2013 has grown from less than 100 before 2013 to more than 4,400 in 2018: report
The B.C. government expects to take action quickly to fix a loophole that allows grey-market exporters of luxury cars in B.C. to claim provincial sales tax exemptions.
The provincial sales tax refund program is governed by regulations that don’t require a change of law through the legislature, so can be fixed relatively easily, says B.C. Attorney-General David Eby. The latest B.C. government-commissioned report on money laundering — German produced a report on casinos last summer — found that money laundering was taking place in the luxury car sector, sometimes with bags of cash.
The report found that provincial employees identified numerous red flags of money laundering related to the export of luxury cars in B.C. The report noted the types of cars being exported were Mercedes, Ferrari, Lamborghini, and other less exotic but still high-value cars.
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