Amendment ordinance issued to comply with FATF recommendations
Amendment ordinance issued to comply with FATF recommendations! Details of the penal laws have been issued under the Amendment Ordinance to punish the elements involved in smuggling money and financing terrorism.
According to Express-News, the details of penalties have been released under the Tax Laws Amendment Ordinance for the elements involved in currency smuggling and tire racket financing.
The currency caught under the ordinance will be confiscated, the smuggler will also be detained and fined the same as the value of the seized.
The ordinance states that the currency details will carry heavy fines and penalties for carrying more than $ 10,000 abroad, the currency will be forfeited on the withdrawal of the currency from $ 10,000 to $ 20,000, Carrying a currency from $ 20,000 to $ 50,000 for two years imprisonment and a fine, a fine of 7 years for carrying a currency abroad from $ 50,000 to one hundred thousand dollars, four times the fine, up to one hundred thousand dollars to 2 million dollars, Carrying currency forfeiture, 5 times the penalty and imprisonment for 3 to 10 years while taking money in excess of $ 2 million a dollar, currency confiscation, 10 times fine and 5 counts. Will be imprisoned for up to 14 years.
In the ordinance, smuggling of precious metals like gold, silver, precious stones and other prices will be punished.
15 Tola of gold or its worth of silver, platinum will be punishable by confiscation and the same shall be fine, and for carrying over 16 tolas to 30 tolas, forfeited and double fine, for carrying 31 to 50 tola for gold, 3 times. Fines and one-year imprisonment, 51 to 100 tola for carrying gold, 3 times fine and 3 years imprisonment, 101 to 200 tola for carrying gold, 4 fines and 5 years imprisonment, 201 to 500 tola for gold. Seizure on leave, punishable by 5 years, imprisonment for a minimum of 3 years and a maximum of 10 years, and confiscation for carrying more than 500 gold shall be punishable by 10 and at least 5 years and up to a maximum of 14 years.
Fines will not be applied to imports and gifts through couriers, air cargo, diplomatic cargo, federal and provincial and local governments, without individual NTN numbers and sales tax registration numbers.