Currency and futures transactions are smuggled outside the authorized network of exchange offices and banks

According to the Iran Economist, according to the regulations issued by the Central Bank, which is binding, the entry of foreign currency up to 10 thousand Euros and its currency equivalent does not require a declaration and it is allowed to enter the country and more than 10 thousand Euros with declaration at customs and without any A restriction is allowed.

Currency outflow ceiling

According to the Central Bank’s public relations, Morteza Stack, Director General of Foreign Exchange Policies and Regulations of the Central Bank, said on Thursday in the program of the economic desk of Khabar 14 Sima about the new instructions for combating smuggling of goods and currency, regarding the permitted amount of foreign currency. Up to 5,000 Euros by air and up to 2,000 Euros by land, and the equivalent can be withdrawn without notice when entering the country. The euro can take the same amount out of the country.

Tomorrow’s currency trading is smuggling

In response to the question that one of the issues we have in the foreign exchange market is the discussion of future transactions, is there any legitimacy in the reform of the law against smuggling of goods and foreign exchange? He explained: In paragraph T of Article 2, the examples of smuggling of goods and currency in the new law are explained in detail, and in eight paragraphs and 9 notes, the previous paragraph C is replaced.

He continued: “In this paragraph, tomorrow’s transactions, in which no currency is exchanged and only the difference is calculated on paper, are explicitly considered smuggling.”

Currency storage condition

Regarding the rules for carrying and keeping foreign currency in the new law on combating smuggling of goods and currency, Stack also reminded: up to 10 thousand Euros is unrestricted, but more than this amount, provided you have purchase accounts from exchange offices, banks, credit institutions or declarations The customs is not prohibited from submitting the customs declaration for a period of six months, and before this deadline, the person is obliged to sell this currency to the banking units and exchange offices in order to keep it in their account in their name.

The Director General of Foreign Exchange Policies and Regulations of the Central Bank, regarding the assignment of a person who buys foreign currency in Rials in the country and receives dollars or other currency from his account across the borders, said: In paragraphs A and B of the new anti-trafficking instructions Commodities and foreign exchange It is mentioned that the entry of foreign currency into the country and its departure outside the rules of the Monetary and Credit Council is considered as an example of currency smuggling.

Stack continued: In connection with the foreign exchange transaction, paragraph P also mentions that as soon as one of the parties to the foreign exchange transaction, whether it is a bank, credit institution or exchange office, any purchase, sale, remittance, exchange or peace is considered an example of currency smuggling. However, it should be noted that according to this law, importers and exporters who trade in the Senate or Nima systems according to the framework set by the Central Bank, and even stock exchange traders are not subject to this clause.

He stated: In paragraph 2 of Article 2 of the new law, in relation to domestic and foreign remittance services, it is also stated that it must be done by foreign exchange services, brokers and money changers with licenses, and people who act outside these rules are examples of currency smuggling. Deemed to be.

According to him, the new law on combating smuggling of goods and currency provides for various criteria for goods and services, remittances for the import of goods, manufacturing or commercial companies.

The Director General of Foreign Exchange Policies and Regulations of the Central Bank pointed out: The Central Bank is obliged to publish the list of authorized exchange offices in the official newspapers of the country and the Central Bank’s website and to inform the public of any changes under Note 4 of Article 2.

Export currency return regulations

Stack added: In the case of Note 6, the return of export currency, if individuals do not fulfill their obligations, in addition to being obliged to fulfill their obligations, they should be fined one-fifth of the violation and are subject to Article 69 of the Anti-Trafficking in Goods and Currency Suspension. They will become merchants and sailors, and 3 months after the issuance of the ruling, the obligations equal to the rial value of the obligations must be paid at the highest rate at the time of the issuance of the fine.

The director general of the Organization for the Collection and Sale of Proprietary Property also said in the program: The case of smuggling was known at the points of entry, and therefore some goods were removed from the case of smuggling during transportation and storage. Is subject to the provisions of smuggling goods.

Abdul Hamid Ejtehadi stated: The cases of smuggling in the previous law are examined in the criminal court and in the new law in the revolutionary court. The administrative justice that it issued in 1995 was within the jurisdiction of the criminal court, which created problems in the dispersal of votes.

He also explained about the goods that entered the country through smuggling and are now sold in shops and are subject to smuggled goods: “Before, there was ambiguity whether keeping and selling is an economic crime that is covered by the new law.” It becomes a crime, and in addition to that, the smuggled goods for which the government has set the rules, any violation is a crime.

The director of the Organization for the Collection and Sale of Proprietary Property stated: “Before the new law, any violation in the discussion of the declaration after leaving customs was considered smuggling, but the problem was under-declaration at customs, which was a legal form of smuggling.” And if the customs officers found out, they would pay the difference, but now the legislator has increased the risk, and if the discrepancy of the goods is more than 15%, the problem will not be solved by just a fine.

The gap of ambiguity and identification of the criminal title in the new law against smuggling of goods and currency has been removed.

The director general of the Office of Laws and Regulations of the Anti-Money Laundering and Anti-Trafficking Headquarters also said in the program: It is clear.

Seyyed Ali Masoumi added: “In the new law, an attempt has been made to remove the previous ambiguities in recognizing and applying the sentence and the subject, and only the criminal law has not been trafficked, and cases such as transportation and storage have become transparent and the effects of subordinate sentences have been assigned.”

He continued: “One of the challenges was the ambiguity in the implementation of the law against combating smuggling of goods and currency and in the customs law, and the decree of 1992 could not solve this problem that the new law has eliminated these gaps. It was a tax evasion and a customs violation, and the person was eventually fined and the goods entered the market.

The director general of the Office of Laws and Regulations of the Anti-Money Laundering and Anti-Trafficking Headquarters reminded: The new law defines a clear and quantifiable criterion and that difference is 15%, ie if there is a difference of up to 15% in volume, number and weight of goods of the same name. It is subject to a fine under the customs law, but if it exceeds this percentage, the smuggling rules will govern it and the individual will be dealt with.

Masoumi added: “In the past, because there was no quantification, due to the large volume of goods, the customs had to separate the goods in the form of different directives, and now there is a 15% difference in volume and number, but do not worry about any smuggling It is considered that a person can import his goods if he submits documents.

According to him, one of the concerns was that the supply chain is the last link in the fight against smuggling. If it can be managed, many problems will be solved when a person is sure that the goods have after-sales service or insurance. It is considered that the goods are not smuggled. With the new system, the legislator has tried to make any guarantee and insurance services conditional on the control of information related to goods imported into the country through the system subject to paragraph A of Article 6 of the law.

He reminded: the legislator has also considered a legal provision in such a way that the exporter who exports the currency must assign the currency in four cases, either sell it directly to the central bank and receive Rials, or to the authorized persons introduced from Sell ​​to the central bank, including exchange offices and institutions or traders, or allocate a license to import their goods or another person, and finally settle the foreign exchange facilities that he had previously received, if one of these conditions does not occur, the person subject to punishment up to one The fifth becomes the value of the currency, and if action is not taken within 3 months, the penalty is increased.

The amendment to the Anti-Trafficking in Goods and Foreign Exchange Law was notified to the executive branch for implementation on 22 April. Note to Article 6 of this law criminalizes any services such as guarantees and insurance for goods that have been illegally produced or imported into the country.

One of the illegal examples is goods without identification and tracking codes, and it has been started in the spare parts sector for some time.