Our Ref.
: TC/WK/BYG/2673P79-2025
Date: 24-04-2025
Attention: Wilkinson, Wilkinson & Wilkinson.
Beton Yatirim Group
TAX EVASION NOTIFICATION
It has come to the notice of the Authority of T. C. Istanbul Tax Department (T.C. İSTANBUL
VERGİ DAİRESİ BAŞKANLIĞI) responsible for the collection of taxes in Turkey through our
Financial Intelligence Monitoring Network that Garanti Bankasi A.S Istanbul, Turkey transferred
the sum of Fifty Million United States Dollars Only ($50,000,000.00 USD) to the below account
details:
Bank Name Republic Bank Barbados.
Broad Street, 00002 Bridgetown, St.
Bank Address Michael, Barbado
Account Name Caribbean Tourism Investment
Management Inc.
Account Number 028010942003
Swift Code BNBABBBB
We were notified of this transfer by the The Central Bank of the Republic of Turkey, CBRT
(Türkiye Cumhuriyet Merkez Bankasi, TCMB) when they presented this transfer to us for our
final approval for international transfer. We found out on our database that there was no record
of any paid tax on these huge funds. The transfer was done without proper adherance to the
Banking Regulation Policy hence denying the Turkish Government of all relevant and mandatory
fees of Banking and Transaction Tax (BTT) due to her.
This is a huge offence punishable under section 10 subsection 25 of Revenue Acts. This singular
act after due investigation was carried out according to a provision in subparagraph (a) of
paragraph (III) of Article 4 of the CBRT Law No 4389 enacted in 1999 Bank and other financial
institution Decree (CBRT) guiding against international transfer of huge fund without Tax
clearance from the Origin of the Fund, which is Turkey and also without complying with our
directive through the Banking Regulation and Supervision Agency as a laid down policy of the
Turkish Government and as such shall be treated as a violation.
As a result, the International transfer of Fifty Million United States Dollars Only ($50,000,000.00
USD) made to Wilkinson, Wilkinson & Wilkinson has been stopped due to the violation of the
above stated and non-remittance of the fees associated with these regulatory issues.
T. C. Istanbul Tax Department (T.C. İSTANBUL VERGİ DAİRESİ BAŞKANLIĞI)
Overview of the Banking Transaction Tax and Stamp Duty Tax: Banking transactions
remain exempt from VAT but are subject to a Banking Transaction Tax. Stamp Duty Tax applies
to documents such as agreements, financial statements involved in your transaction. In your own
case, you bear specifically on the non-availability of Stamp Duty Tax and non-remittance of
Banking Transaction Tax associated with BTT. The taxes are stated below:
Banking and 0.6%
Transaction Tax (BTT)
Stamp Duty Tax 0.4%
We strongly believe that you are aware that Wilkinson, Wilkinson & Wilkinson has not paid nor
remitted any sum of money with respect to the above stated.
The Central Bank of the Republic of Turkey, CBRT (Türkiye Cumhuriyet Merkez Bankasi,
TCMB) is aware of this development and as such you are hereby directed to immediately comply
with the directives as stated in this document and liaise with Beton Yatirim Group being your
principal funding partner on how best to come up with such remittances before your funds
would be fully released into your account.
You are instructed to make available the payment of 1% of Fifty Million United States Dollars
($50,000,000.00 USD) which amounts to the sum of Five Hundred Thousand United States
Dollars Only ($500,000.00 USD).
The Beneficiary is to liase with the funding partner so as to make payment of the aforementioned
fees through the existing channels.
You have up to Seven (7) working days ultimatum to responsibly attend to this issue by indicating
your readiness to fulfill this requirement and make adequate provisions as deemed necessary or
the funds will be revoked permanently and returned to the Turkish Treasury.
T. C. Istanbul Tax Department (T.C. İSTANBUL VERGİ DAİRESİ BAŞKANLIĞI)