$2.5bn Tax Fraud Uncovered in Iraq

By John Lee.

Iraq's Federal Commission of Integrity (FCOI) has said it is investigating the theft of 3.7 trillion Iraqi dinars ($2.5 billion) from the General Tax Authority.

The funds were allegedly stolen from the Tax Authority's account at the state-run Rafidain Bank.

According to The National, the money was paid to five recently-created companies via 247 cheques between 9th September last year and 11th August this year.

The Commission said the case has been referred to the judiciary.

More here, here and here.

(Sources: Commission of Integrity, The National, @SajadJiyad)

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