KARACHI – The Federal Board of Revenue (FBR) has started investigations against Pakistanis named in Paradise Papers sorting out the 19 people reported to have invested in offshore firms.
To launch the inquiry, Regional Tax Officers (RTO) have been contacted while the tax regulator is in touch with State Bank of Pakistan, NADRA, SECP and other related departments to seek cooperation.
Highly placed sources disclosed that the details regarding financial transactions and bank accounts of all the 19 people have been requested by FBR and the investigations will be held under tax evasion and money-laundering laws.
Paradise papers, the latest treasure trove blew the lid off international bigwigs including Queen Elizabeth II and US Secretary of State Rex Tillerson.
https://en.dailypakistan.com.pk/pakistan/135-pakistanis-including-tycoons-named-in-paradise-papers/
Besides international political figures, former Pakistani Prime Minister (PM) Shaukat Aziz was also named in the Paradise Papers unveiled by International Consortium of Investigative Journalists (ICIJ).
Shaukat Aziz s company was being run from Barmuda. He had established the company named Antarctic Trust and his siblings, as well as wife, became the beneficiaries of the company but this company was never disclosed before Election Commission of Pakistan (ECP) when he became the finance minister of Prime Minister.
Moreover, former Chairman NICL chief Ayaz Khan Niazi, Mian Muhammad Mansha and other tycoons were also identified as owners of offshore firms.
