DRI seeks central bank help
KATHMANDU:
The Department of Revenue Investigation (DRI) has asked the central bank for its help in investigation against account holders of suspected fake customs declaration forms.
According to department’s director general Shanta Bahadur Shrestha, the department will collect all the details of bank transaction of customs declaration from the bordering districts,” he said, adding that the department will take the help of central bank to investigate whether there are additional fraud cases through fake customs declaration forms or not. The department is thoroughly inspecting the bank statement, customs declaration forms and demand drafts submitted by the firms to identify the intensity of fake customs declaration form that has been, according to the department, fuelling capital flight.
Meanwhile, alarmed by misappropriation of foreign currency through fake customs declaration forms and demand drafts without importing goods through Customs Office, the department has initiated further investigation process of transaction through customs offices located in the bordering districts including Biratnagar, Bhairahawa, Sunsari, Nepalgunj and others, Shrestha said, adding that the department has suspected that there are similar kinds of fraud through other customs offices too.
“The nexus of illicit fake customs declaration forms might have spread throughout the country,” Shrestha added.
The fraud of at least Rs 1 billion through fake customs declaration form from Birgunj office alone has raised the alarm so far, he said, adding that the department is investigating more than 150 customs declaration forms.
There are two clear motives behind producing fake customs declaration form— for capital flight and for black market of Indian Currency.
The production of fake customs declaration form might have a connection with black-marketing of Indian Currency notes since Nepali market is witnessing shortage of Indian Currency notes, suspected the department that has expedited the investigation into the illicit customs declaration forms after police on August 29 nabbed five with fake customs declaration forms. They were trying to get more than Rs 7.52 million transferred to India with the help of fake documents.
The ministry since last fiscal year had introduced abbreviated customs declaration forms mandatory to check the uncontrolled imports and expedite the government’s revenue collection.
Source: THT
The Department of Revenue Investigation (DRI) has asked the central bank for its help in investigation against account holders of suspected fake customs declaration forms.
According to department’s director general Shanta Bahadur Shrestha, the department will collect all the details of bank transaction of customs declaration from the bordering districts,” he said, adding that the department will take the help of central bank to investigate whether there are additional fraud cases through fake customs declaration forms or not. The department is thoroughly inspecting the bank statement, customs declaration forms and demand drafts submitted by the firms to identify the intensity of fake customs declaration form that has been, according to the department, fuelling capital flight.
Meanwhile, alarmed by misappropriation of foreign currency through fake customs declaration forms and demand drafts without importing goods through Customs Office, the department has initiated further investigation process of transaction through customs offices located in the bordering districts including Biratnagar, Bhairahawa, Sunsari, Nepalgunj and others, Shrestha said, adding that the department has suspected that there are similar kinds of fraud through other customs offices too.
“The nexus of illicit fake customs declaration forms might have spread throughout the country,” Shrestha added.
The fraud of at least Rs 1 billion through fake customs declaration form from Birgunj office alone has raised the alarm so far, he said, adding that the department is investigating more than 150 customs declaration forms.
There are two clear motives behind producing fake customs declaration form— for capital flight and for black market of Indian Currency.
The production of fake customs declaration form might have a connection with black-marketing of Indian Currency notes since Nepali market is witnessing shortage of Indian Currency notes, suspected the department that has expedited the investigation into the illicit customs declaration forms after police on August 29 nabbed five with fake customs declaration forms. They were trying to get more than Rs 7.52 million transferred to India with the help of fake documents.
The ministry since last fiscal year had introduced abbreviated customs declaration forms mandatory to check the uncontrolled imports and expedite the government’s revenue collection.
Source: THT
