60 thousand shell companies under penalty of law

60 thousand shell companies under penalty of law

12/26/2020 10:20

60 thousand shell companies under penalty of law[Baghdad-Where]
For about a month, the competent authorities have been pursuing the legal and technical prosecution of nearly 60,000 officially registered companies that do not possess a real “fake” commercial activity. Those authorities confirmed that these companies have one more month to correct their situation and pay the fines and taxes they owe to the state.
The official newspaper stated that it quoted the former Director General of the Registration Department at the Ministry of Commerce, Rashad Khalaf Hashem, in a report published last November, that there are 80 thousand registered companies, including companies that have not existed for 15 years, and Hashem also confirmed that companies that have activity Private commercial companies are 20 thousand companies, and thus we are in front of 60 thousand shell companies, indicating that the ministry has initiated unprecedented measures to liquidate these companies by forming a committee of intelligence, national security and the Ministry of Trade, and giving 60 days to liquidate these companies through procedures carried out by the ministry.
She added, “Through our follow-up to the procedures taken by the Companies Registration Directorate, and by communicating with the current director of company registration, Mujahid Al-Aifan, it became clear that the procedures are still continuing, and only one month has passed since the warning, and the Companies Registration Directorate will take other measures at the beginning of the year. 2021; it will lead to read and televised advertisements to be more widespread, so that companies can pay their fines and pay taxes, as well as update information related to them. ”
Al-Aifan noted that “the cancellation and removal of the violating companies result in legal matters, because they own in-kind property and bank accounts, and thus their movable and immovable money will be seized until the taxes, social security and fines are paid off”, affirming that the procedures are continued by the Companies Registration Directorate, to determine The number of actual companies that actually operate their business

alliraqnews.com