The Australian wheat exporter, AWB, is alleged to have claimed up to $90M in tax deductions for its kickbacks to Saddam Hussein's regime.
AWB also allegedly wrote off against tax a $US7M debt it retrieved from the Iraqi Government for a BHP-related company.
AWB is undergoing an investigation by the Cole commission.
Labor's revenue spokesman, Joel Fitzgibbon, said that tax commissioner Michael D'Ascenzo must immediately audit AWB's books to ensure they had not broken any laws.
Australian Federal Police (AFP) Commissioner, Mick Keelty, said that his officers were ready to investigate whether AWB had broken any domestic laws.
Quote:
"We have been liaising with the Cole inquiry and we are awaiting any referral from the Cole inquiry. In order to maintain the integrity of investigation that may have to take place, it's probably appropriate that we say little more than that."
What goes around, comes around!
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