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**assohillA** · 11-26-2009, 04:22 AM

If you wondered how the Algerian v Egyptian football s**** couldnt transform into something else, the reality it was very likely something else all a long.

Reuters reported and the Cairo based OT Telecom confirmed that on November 17 2009, the Algerian tax authority issued to Egypt's Telecom company in Algeria, Djezzy, a reassessment of back taxes owed amounting to $USD 595 million dollars.

"Orascom Telecom Algeria received Last Night the
Official Tax Assessment for the years 2005, 2006 and
2007
Cairo, November 17th, 2009: Orascom Telecom Holding (“OTH”) announces
that its Algerian subsidiary Orascom Telecom Algeria (“OTA”) has received last
night the official tax notification from the Algerian Direction des Grandes
Enterprises (Tax Department for Large-Scale Companies) (the “DGE”) in respect
of the years 2005, 2006 and 2007, in which the DGE has assessed taxes and
penalties alleged to be owing by OTA in the amount of DZD 43.9 billion
(approximately USD596.6 million) (the “Reassessment”).
The Reassessment is based primarily on the unfounded and unacceptable
allegation that OTA did not keep proper accounts for the years 2005, 2006 and
2007 notwithstanding that OTA’s accounts were fully audited and approved by
both OTA’s international auditors, and its local statutory auditors. The DGE
rejected the methods applied by OTA’s in its accounts and took the following
position:
• The DGE reconstituted OTA’s Total Revenue for the 2005, 2006 and 2007
years to an amount of DZD387 billion (equivalent to USD5.25 billion)
versus reported audited figure of DZD325 billion (equivalent to USD4.42
billion) denoting an additional DZD62 billion (equivalent to USD840
million) compared to the actual revenue generated. It is worth noting
that for the year 2005 alone the variance between the OTA’s audited
figures and the DGE’s claim reached 36%. OTA invited the tax authority
to revisit its decision by performing a thorough audit on the company’s
switches and IT systems responsible for the recording and reporting of the
company’s revenues. The DGE did not consider OTA’s invitation."

http://www.otelecom.com/files/media_...and%202007.pdf

Its very likely that OTA expected this verdict and reported back to Cairo that Algeria was going to bury Egypt's telecom business interests with outstanding tax claims. Formal documents of this size rarely arrive unexpected.

Thus, the attack on the Algerian football team could have easily have been an indication to Bouteflika's regime that Egypt was not going down lightly.

This entire spat could easily be about money and Bouteflika's efforts to remove foreign businesses in Algeria's telecommunications market.

In the end, the Muslim people are being used as pawns by both regimes.

Subhanna Allah.

11-26-2009, 04:22 AM	#21
assohillA Join Date Oct 2005 Posts 447 Senior Member	If you wondered how the Algerian v Egyptian football s**** couldnt transform into something else, the reality it was very likely something else all a long. Reuters reported and the Cairo based OT Telecom confirmed that on November 17 2009, the Algerian tax authority issued to Egypt's Telecom company in Algeria, Djezzy, a reassessment of back taxes owed amounting to $USD 595 million dollars. "Orascom Telecom Algeria received Last Night the Official Tax Assessment for the years 2005, 2006 and 2007 Cairo, November 17th, 2009: Orascom Telecom Holding (“OTH”) announces that its Algerian subsidiary Orascom Telecom Algeria (“OTA”) has received last night the official tax notification from the Algerian Direction des Grandes Enterprises (Tax Department for Large-Scale Companies) (the “DGE”) in respect of the years 2005, 2006 and 2007, in which the DGE has assessed taxes and penalties alleged to be owing by OTA in the amount of DZD 43.9 billion (approximately USD596.6 million) (the “Reassessment”). The Reassessment is based primarily on the unfounded and unacceptable allegation that OTA did not keep proper accounts for the years 2005, 2006 and 2007 notwithstanding that OTA’s accounts were fully audited and approved by both OTA’s international auditors, and its local statutory auditors. The DGE rejected the methods applied by OTA’s in its accounts and took the following position: • The DGE reconstituted OTA’s Total Revenue for the 2005, 2006 and 2007 years to an amount of DZD387 billion (equivalent to USD5.25 billion) versus reported audited figure of DZD325 billion (equivalent to USD4.42 billion) denoting an additional DZD62 billion (equivalent to USD840 million) compared to the actual revenue generated. It is worth noting that for the year 2005 alone the variance between the OTA’s audited figures and the DGE’s claim reached 36%. OTA invited the tax authority to revisit its decision by performing a thorough audit on the company’s switches and IT systems responsible for the recording and reporting of the company’s revenues. The DGE did not consider OTA’s invitation." http://www.otelecom.com/files/media_...and%202007.pdf Its very likely that OTA expected this verdict and reported back to Cairo that Algeria was going to bury Egypt's telecom business interests with outstanding tax claims. Formal documents of this size rarely arrive unexpected. Thus, the attack on the Algerian football team could have easily have been an indication to Bouteflika's regime that Egypt was not going down lightly. This entire spat could easily be about money and Bouteflika's efforts to remove foreign businesses in Algeria's telecommunications market. In the end, the Muslim people are being used as pawns by both regimes. Subhanna Allah.
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