DAR ES SALAAM (Xinhua) --
The Zanzibar Archipelago, situated off the coast
of East Africa in the Indian Ocean, on Monday began to apply the
anti-money laundering law, said the Tanzania Revenue Authority (TRA).
TRA said in a
statement that people intending to move 10,000 U.S. dollars or
its equivalent in cash out of Zanzibar without declaring the
same to the revenue authority may find themselves in trouble.
The introduction of
the anti-money laundering legislation came on the back of the
government of Tanzania’s decision to extend anti-money
laundering measures to Zanzibar.
Zanzibar merged in 1964 to form the United Republic of Tanzania.
implementing the Anti-Money Laundering and Proceeds of Crime Act
(No. 10 of 2009), and the Anti-Money Laundering (Cross-Border
Declaration of Currency and Bearer Negotiable Instruments)
Regulations, 2015,” TRA said in the statement.
Richard Kayombo, TRA
Director for Taxpayer Education and Services, said the new law
was aimed at sensitizing the public on the importance of
declaring their financial status in line with the law.
“This law is
practiced across the world,” said Kayombo, adding that the
legislation started to be applied in Tanzania mainland last
“The law forbids one
from moving 10,000 U.S. dollars or more, or its equivalent in
Tanzanian shillings or any foreign currency, across Tanzania’s
borders without declaring the same to TRA’s Customs Department,”