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Full and dangerous details.. In this "easy" way, the $2.5 billion was stolen in Iraq - Urgent
1,006 Economie 10/21/2022 20:02
Baghdad today - Baghdad
Economist Mustafa Akram Hantoush revealed the full story of the theft of the $2.5 billion,
which turned out to be “supported” by law, due to the backwardness of laws,
especially that the law dealing with the issue of refunding tax deposits dates back 40 years and contains a large loophole that facilitated the theft process.
Hantoush said, in televised statements, which were followed by (Baghdad Today), that
"the parties that stole the amount of tax deposits reviewed Article 21 in Tax Law No. 113 in 1982, that is, the headquarters 40 years ago," noting that
"the nature of financial laws after 3 years, corruption can enable corruption." and become useless.” He added that
"this Article 21 is called rebate, and that the thieves reviewed this article before their operation, as the article states:
"The financial authority must return to the taxpayer what he had paid to it in tax more than the amount verified, provided that he submits an application for this within 5 years, starting from end of the fiscal year in which the increase was paid. He explained that
"those responsible for the robbery noted that the opportunity is favorable to take the accumulated amounts in the trust account, as after 5 years, these amounts will be withdrawn and go to the state treasury."
Regarding the origin of this money, Hantoush explains,
“The importer, for example, opens a documentary credit of 10 million dollars, and
when his goods are incomplete or the amount of tax is only 7 million dollars, 7 million dollars are taken from this documentary credit as a tax to the state treasury, and this remains The 3 million dollars are in the trust account until the importer completes bringing his goods, so
"When they noticed the accumulation of these sums and there is no clear law to deal with them and how to dispose of them, which are supposed to be state funds and were about to be transferred to the treasury,
they decided to withdraw them,
but with a small treatment and through the House of Representatives and the Council of Ministers, where they were convinced that "this money For traders and importers who want to
the request was that it be excluded from auditing by the Financial Supervision Bureau, because
the matter became in the hands of the Commission Taxes that were easily able to issue bonds of exchange for these companies."
Full and dangerous details.. In this "easy" way, the $2.5 billion was stolen in Iraq - Urgent
1,006 Economie 10/21/2022 20:02
Baghdad today - Baghdad
Economist Mustafa Akram Hantoush revealed the full story of the theft of the $2.5 billion,
which turned out to be “supported” by law, due to the backwardness of laws,
especially that the law dealing with the issue of refunding tax deposits dates back 40 years and contains a large loophole that facilitated the theft process.
Hantoush said, in televised statements, which were followed by (Baghdad Today), that
"the parties that stole the amount of tax deposits reviewed Article 21 in Tax Law No. 113 in 1982, that is, the headquarters 40 years ago," noting that
"the nature of financial laws after 3 years, corruption can enable corruption." and become useless.” He added that
"this Article 21 is called rebate, and that the thieves reviewed this article before their operation, as the article states:
"The financial authority must return to the taxpayer what he had paid to it in tax more than the amount verified, provided that he submits an application for this within 5 years, starting from end of the fiscal year in which the increase was paid. He explained that
"those responsible for the robbery noted that the opportunity is favorable to take the accumulated amounts in the trust account, as after 5 years, these amounts will be withdrawn and go to the state treasury."
Regarding the origin of this money, Hantoush explains,
“The importer, for example, opens a documentary credit of 10 million dollars, and
when his goods are incomplete or the amount of tax is only 7 million dollars, 7 million dollars are taken from this documentary credit as a tax to the state treasury, and this remains The 3 million dollars are in the trust account until the importer completes bringing his goods, so
- the state takes this remaining money, or
if the goods do not come, the importer is required to recover his remaining tax money from the trust account. He added,
"When they noticed the accumulation of these sums and there is no clear law to deal with them and how to dispose of them, which are supposed to be state funds and were about to be transferred to the treasury,
they decided to withdraw them,
but with a small treatment and through the House of Representatives and the Council of Ministers, where they were convinced that "this money For traders and importers who want to
- recover it without obstacles, and it was
long overdue for them, and to
facilitate the matter
the request was that it be excluded from auditing by the Financial Supervision Bureau, because
- it will delay the recovery of the money of the claimants, and
in the interest of “humanitarian” and facilitating the matter of investment companies,
the Financial Supervision Bureau was excluded, and
the matter became in the hands of the Commission Taxes that were easily able to issue bonds of exchange for these companies."
