Tax authorities launch checks on luxury cars: Those who do not file declarations risk penalties

The Specialized Control Directorate at the Tax Administration has launched an audit of luxury cars purchased by individuals not registered with the tax authorities.

From the data made available by the General Directorate of Road Transport Services, it appears that vehicles were purchased during 2023-2024 by people who have no declared income!

The Tax Administration requires individuals to declare the income used to purchase these assets in order to avoid penalties.

All individuals who own luxury vehicles will be included in the verification process through the analysis of income declared to the Tax Authority, their compatibility with the value of the assets owned and the supporting documentation of the financial source/CNA.

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