Fed: AWB escapes wrath of tax office over Iraq bribes scandal

AAP General News (Australia)
12-20-2006
Fed: AWB escapes wrath of tax office over Iraq bribes scandal

A tax office investigation has cleared Australia's wheat marketer of wrongly claiming
tax deductions .. for the 390 million dollars in bribes it paid to the regime of SADDAM
HUSSEIN.

The Australian Taxation Office launched its inquiry in August .. after claims emerged
at the inquiry into the Iraqi kickbacks scandal about how AWB treated the payments in
its accounts.

Commissioner TERENCE COLE QC heard suggestions the payments AWB made in breach of the
United Nations' oil-for-food program .. were claimed as a tax deduction.

AWB's now issued a statement .. saying the Tax Office accepts that for the reasons
set out in the Cole inquiry report .. the payments don't constitute bribes to foreign
public officials for the purposes of the Income Tax Assessment Act 1997.

AAP RTV bt/was/tm/rt

KEYWORD: AWB TAX (SYDNEY)

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