The Ministry of Finance warned that taxpayers who exploit administrative appeals to conceal or transfer assets will encounter immediate asset seizure actions. Effective 5 August 2026, the tax authority may issue provisional confiscation orders without prior notice when credible evidence of asset manipulation exists. Such orders can freeze bank accounts, suspend property transactions, and seize movable property to satisfy tax liabilities. The policy applies to all tax types, including income, corporate, and value‑added taxes. Affected taxpayers may contest the order within seven days and request review by an independent tribunal, with non‑compliance leading to additional penalties and possible criminal prosecution.
Key Takeaways
- Seizure Power: Immediate confiscation of assets for suspected concealment
- Contest Window: Seven days to appeal the order
- Penalties: Additional fines, interest, and possible criminal charges
Source: Read Original Announcement