British authorities accuse Sonatrach of tax evasion

The British taxes police ordered a heavy tax readjustment to the British Virgin Islands based company Sonatrach Petroleum Corporation through its affiliate located in London. The company deals with the international business operations of the Algerian hydrocarbons company, Sonatarch .

The British financial authorities have estimated the first tax readjustment for the 2008 business year at nearly $ 45 million before extending the procedure to the years 2009, 2010, 2011 and 20012 following doubts over shady practices from the managers of London based Sonatrach Petroleum.

According to the British financial law, Sonatrach British Petroleum tax domicile is located in the Virgin Islands, while its London based affiliate is only concerned with simple transactions like the payment of the personnel’s salaries including the manager, considering that the bulk of the transactions takes place in the virgin Islands.

The British authorities have accused the London based office manager Ali Benbouzid, appointed by the former energy minister Chakib Khellil of shady practices.

The inquiries will e expanded to the period of Omar Mealiou who was appointed in the same post by the former CEO Noureddine Cherouati who was dismissed in the wake of the cleansing campaign he conducted in Algeria and abroad against the legacy of Chakib khellil.