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Exporter claimed millions as tax deductions
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Newspaper Article
Exporter claimed millions as tax deductions
2006
Overview
DISGRACED wheat exporter AWB bypassed UN sanctions to funnel millions from Iraq to a BHP-related company -- and then claimed tax deductions on the deal, the Cole inquiry heard yesterday. In the latest evidence to emerge from the Cole commission, AWB was found to have claimed $US7.5million as an \"expense\", though it had only acted as a conduit to get the money out of Iraq. The money was passed on in mid-December 2004 to Tigris Petroleum, which had inherited a debt from BHP for a 1996 shipment of wheat. Inquiry head Terence Cole has previously described BHP's \"gift\" of wheat as a \"soft bribe\". BHP is refusing to comment on matters arising from the Cole inquiry.
Publisher
News Limited
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