OTHER THINGS YOU MAY HAVE MISSED – JULY 7

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.

https://tribune.com.pk/story/2007873/2-smuggling-invoicing-biggest-threats-industries/

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.

http://www.newindianexpress.com/states/tamil-nadu/2019/jul/07/kingpin-behind-trade-based-money-laundering-arrested-2000483.html

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.

https://maritime-executive.com/corporate/maritime-anti-corruption-network-launches-campaign-in-indian-ports

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.

http://www.jamaicaobserver.com/sunday-finance/crime-and-corruption-stifling-business-ecosystem-in-jamaica-psoj-president-difficulty-in-accessing-capital-hindering-smes_169162

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.

https://www.telesurenglish.net/news/Guatemalan-Legislators-Suspects-Guatemalan-President-of-Fraud–20190707-0001.html

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.

https://www.defenceweb.co.za/featured/major-counterfeit-goods-bust-at-ngqura-port/

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.

http://english.alarabiya.net/en/News/north-africa/2019/07/07/Bouteflika-s-ex-party-chief-detained-in-Algeria-corruption-probe-.html

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https://www.rferl.org/a/30035193.html

 

This blog is primarily for my own use, to keep informed and up to date.  However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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