IF the Bureau of Internal Revenue (BIR) had its way, tax evasion would be among the “predicate crimes” punishable under the Anti-Money Laundering Act (Amla), alongside kidnapping for ransom, plunder and drug trafficking and others.
In a position paper submitted to the Senate Sub-committee on Anti-Money Laundering, the BIR said the inclusion of tax evasion as one of the crimes in money laundering is “proper and timely.”
Senators are currently discussing amendments to the Amla.
Predicate crimes are unlawful activities under the Amla for which the government can seek the freezing of funds or assets of individuals.
“It is in line with the present trend among national governments and international organizations that are dedicated to curtailing illicit capital flight as a means of supporting and sustaining economic development in low-income countries,” the agency said.
The BIR said the Task Force on Financial Integrity and Economic Development (Fied) recommended on January 17, 2011, to the Financial Action Task Force (FATF) that tax crimes be included as predicate offenses to money laundering.
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