Foreign exchange travel tax penalties: greater liability for travellers and dealers for unpaid or unremitted tax, with possible waiver.

Traveller liability: a person intending foreign travel who holds taxable foreign exchange and has not paid the travel tax is liable, in addition to the tax, to a penalty up to twice the tax. Dealer liability: authorised dealers and money changers who fail to collect or who collect but fail to remit the tax are likewise liable to a penalty up to twice the tax involved. The specified authority may waive such penalties in writing, and otherwise penalties are adjudged, collected and paid to the Central Government as provided by Chapter rules.

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