Sri Lanka Customs have raided 13 prominent jewellery-making institutions, seizing a substantial stock of gold smuggled into the country. A fine of Rs. 4.5 billion is set to be imposed in connection with this seizure, the Daily Mirror reports.
Information indicates that several major jewellery business operators are involved in this illicit activity. These operators have reportedly been smuggling gold from India for an extended period, thereby evading tax payments to the government.
The Daily Mirror also reveals a concerning development involving some customs officials who are allegedly attempting to undervalue the seized gold stock for questionable transactions. Customs authorities suspect that the gold items were smuggled by boat from India and that payments were made through unlawful channels.
Source – Daily Mirror
