Image used for illustrative purpose. Photo: File
Dr. Hamad Saif Al Shamsi, the Attorney-General of the UAE, has directed the referral of 15 individuals of diverse Arab nationalities to the criminal court, encompassing both those currently in custody and others who are fugitives with active arrest warrants. The indictment also includes 12 companies accused of forgery, money laundering, and tax evasion.
Investigations conducted by the Federal Prosecution for Tax Evasion Crimes, under the direct oversight of the Attorney-General, uncovered that the defendants formed a criminal syndicate to perpetrate fraud. They fabricated official documents purportedly issued by the Ministry of Economy, chambers of commerce, customs authorities, and other entities. These falsified documents allowed them to illegitimately claim refunds for value-added tax (VAT) on non-existent goods, falsely asserting they had purchased, paid VAT for, and exported these goods abroad using companies they set up for their illicit scheme.
The defendants also misused VAT amounts on imports that were intended to be remitted to the Federal Tax Authority. The total sum misappropriated by the defendants exceeded Dh107 million. Additionally, the defendants concealed and disguised the origin of the illicit proceeds through money laundering activities.
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