Regulatory Alerts2016-05-20
Addition of Predicate Offences-Income Tax Ordinance, 2001
The Federal Government has issued a notification under the Anti-Money Laundering Act, 2010, to amend the Schedule by incorporating specific offences under the Income Tax Ordinance, 2001. New additions include provisions for the prosecution of false statements in verification, concealment of income, improper use of National Tax Number certificates, and abetment. These additions apply specifically to cases where the tax sought to be evaded is ten million rupees or more.
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