7th July 2019
PAKISTAN: SMUGGLING AND UNDER-INVOICING BIGGEST THREATS TO INDUSTRIES
On 7th July, the Express Tribune reported that Federal Board of Revenue (FBR) Chairman Shabbar Zaidi had described smuggling, under-invoicing and Afghan Transit Trade the biggest threats to domestic industries. He also lamented the tax evading culture in Pakistan, claiming that out of 341,000 industrial connections, only 43,000 users are paying income tax and less than 19,000 are registered for sales tax.
INDIA: KINGPIN BEHIND TRADE-BASED MONEY LAUNDERING ARRESTED
The New Indian Express on 7th July reported that the Enforcement Directorate (ED) has arrested Muhammed Riyaz, proprietor of Astral Exim and Co, and the alleged mastermind behind trade-based money laundering case involving shell entities, using 57 shell entities current account opened at the Syndicate Bank.
MARITIME ANTI-CORRUPTION NETWORK LAUNCHES CAMPAIGN IN INDIAN PORTS
The Maritime Executive on 7th July reported that, with the support of the Government, the Maritime Anti-Corruption Network (MACN), a global business network of over 110 companies working together to tackle corruption in the maritime industry, announces the launch of a groundbreaking Port Integrity Campaign in India. It aims to reduce and (in the long term) eliminate integrity issues and bottlenecks to trade during operations in Indian ports. The pilot will take place in Mumbai ports until October – with integrity training for port officials and the establishment of clear escalation and reporting processes.
CRIME AND CORRUPTION STIFLING BUSINESS ECOSYSTEM IN JAMAICA
An article in the Jamaica Observer on 7th July reports comments of the President of the Private Sector Organisation of Jamaica (PSOJ). He said that that many SME are not officially registered with identification to pay taxes or gain access to the formal banking system.
GUATEMALA LEGISLATORS SUSPECT PRESIDENT OF FRAUD
Telesur on 7th July reported that legislators and the national auditor have raised doubts over the acquisition of 2 aircraft from Argentina, with a possible bypassing of a Contracting Law.
SOUTH AFRICA: MAJOR COUNTERFEIT GOODS BUST AT PORT
On 5th July, Defence Web reported that Eastern Cape police received information on a container possibly containing fake goods. The container, according to police, was destined for East London via the port of Ngqura. When opened it was found to contain more than 7,000 pairs of sunglasses, 960 Tommy Hilfiger belts, 360 Swiss Gear backpacks, 400 Gucci sling bags, 1,400 plus branded watches and 52,000 branded “Smooth pens”. The haul was worth $3.2 million and everything is thought to be counterfeit and was handed to SARS Customs and Excise for safekeeping and further examination.
EX-PARTY CHIEF DETAINED IN ALGERIA CORRUPTION PROBE
Al-Arabiya on 7th July reported a further detention in the ongoing corruption probe in Algeria. The former head of ousted Algerian president Abdelaziz Bouteflika’s party, Djamel Ould Abbes, was placed in provisional detention on allegations including “squandering public money”, state TV said.
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