Money Laundering Prevention Act 2064

Chapter-6 Provisions on Investigation and Inquiry

Section 28: Source of the Property to be Proved
1) On the basis of a complaint received pursuant to section 13 or information received by the Department by any other means, any person who, in the course of the investigation of an offence relating to the purification of property, has not been found to be guilty of an offence under sub-section (1) of section 14A, but whose property appears to be abnormal in relation to his source of income or economic condition or if he is found to be leading an abnormally high standard of living or has given or transacted charity, charity, gift, gift, donation or box to anyone in excess of his status, shall be required to claim the source of such property from himself.
2) Any person prosecuted under this Act for the offence of money laundering and terrorist financing after investigation shall be required to provide the source of his property if it is found that his property is unbelievable or he is living an incredible lifestyle, or he has unbelievably donated, gifted, granted or contributed or loaned to other more than his capacity in comparison to his income. The property that failed to provide a source shall be confiscated.
3) The Department shall require the person investigated pursuant to subsection (1) or (2) to disclose from what source such property was acquired.
4) If the person investigated in accordance with the law prevailing in the relevant offence is found to be in a position to be prosecuted for the relevant offence or the offence of purification of property according to this Act and the property of such person is found to be more than the property acquired from the offence. A case should be filed with the demand for punishment and confiscation along with the charge in the case of the property obtained from the offence and, in addition, the demand for confiscation in the case of the property that has not been disclosed in the case of the source found to be more than the property obtained from the offence.
5) According to subsection (4), property that is not disclosed to the source shall be forfeited.
6) In the case of a matter which has come in writing pursuant to sub-section (2) or has been investigated by the Department itself, the source of the property has not been disclosed pursuant to sub-section (3), and in the case of a case where the person being investigated is prosecuted for an offence under this Act or the prevailing law, the extent of the property to which the source has not been disclosed shall be sent in writing to the Inland Revenue Department for assessment and recovery.
7) In writing under sub-section (6), if the Inland Revenue Department commits a tax-related offence or does not commit such an offence, and if such person declares that he has not acquired the property by any fault, his property shall be assessed as income for the current income year by determining the maximum tax in accordance with the prevailing law.
8) According to subsection (7), the name, surname and address of the person who has been taxed should be kept on the website of the department and the details regarding his income and revenue should be sent to the department and Financial Information Unit.
9) Notwithstanding anything contained elsewhere in this section, the Department of Internal Revenue shall, in accordance with subsection (7), prepare and implement guidance on the conditions to be complied with in accordance with this Act with respect to the prevention of financial investment in the construction and expansion of weapons of mass destruction, terrorist acts or property during tax inspections.
10) The Department of Internal Revenue will prepare and implement guidance on the conditions to be followed in accordance with this Act regarding the prevention of financial investment in the construction and expansion of weapons of mass destruction, terrorist acts or property during the assessment and examination of taxes by the tax authorities.