Algeria investigates private companies

Taxes general department of the Algerian finance ministry opened large-scale investigations on about 15,000 companies operating in exporting field as currency conversion transactions were conducted under exporting cover, Echorouk has learnt.

The preliminary investigation touched exporting main sectors: car dealers, construction materials, food, industrial oil, sugar, cereals and beans, according to sources.

Inspection operations were carried out in private companies in Algiers, Oran, Setif, Constantine and Blida to get exported products invoice. Tax department received official letters fiscal control department in France about properties of Algerian private companies.

According to the same sources, the Algerian finance ministry and security forces received from France, Spain and Switzerland a list of Algerian names involved in foreign trade-related operations.

Earlier, the finance ministry asked its counterparts in European countries including France, Italy and Spain to give it information about Algerian individuals and companies. Investigations showed that most of the money smuggled to European countries including France and Spain is invested in real-estates.

The Algiers Bank’s data base showed that businessmen and private companies chiefs operating in many sectors including food industries, public works, services, construction materials exporting, home appliance, oil and cereals. They gave non accurate declarations about the price of imported products. Because of that, the finance ministry asked its counterparts in European countries for more information.