Among many others, the French taxpayers are also suspected of having money stashed away through shell corporations in offshore tax havens such as the Bahamas and British Virgin Islands.
'Probe has begun on 560 taxpayers', a finance ministry spokeswoman confirmed. A source privy to the developments said the probes could take several months to complete.
The taxpayers who used Mossack Fonseca’s services had hidden away 4 billion euros ($4.3 billion) in assets for which the French government is due to recuperate 1.2 billion euros in unpaid taxes and fines, according to Minister of Budget, Christian Eckert.
Another 724 taxpayers had also used the Panamanian firm for concealing assets but were already known to French tax authorities, who in 2013 created a service (STDR) to give those holding undeclared offshore accounts the chance to whiten their money.
By mid-September the STDR had received overall 47,000 requests from taxpayers to normalise their situation. It related to 28.8 billion euros of assets for which 6.3 billion euros of unpaid taxes and fines have been recovered.
France is not the first country to publish the number of tax probes it has launched into entities linked to the Panama Papers.
In September, Denmark also confirmed it was working on 320 cases implicating 500-600 taxpayers.
The Papers, which were published at the initiative of the International Consortium of Investigative Journalists (ICIJ), showed how some wealthy individuals, public officials and even sports stars had been keeping assets in offshore accounts to avoid tax.
The Supreme Court in Pakistan is also currently hearing a slew of petitions seeking a probe into off-shore holdings linked to ruling family named in Panama papers truce.
KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on March 21, 2023 (Tuesday).
Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency | Symbol | Buying | Selling |
US Dollar | USD | 283.15 | 286.15 |
Euro | EUR | 298.5 | 301.5 |
UK Pound Sterling | GBP | 340.5 | 344 |
U.A.E Dirham | AED | 77.25 | 78 |
Saudi Riyal | SAR | 75.2 | 76 |
Australian Dollar | AUD | 187 | 189.4 |
Bahrain Dinar | BHD | 749.54 | 757.54 |
Canadian Dollar | CAD | 207.5 | 209.5 |
China Yuan | CNY | 40.91 | 41.31 |
Danish Krone | DKK | 40.38 | 40.78 |
Hong Kong Dollar | HKD | 35.9 | 36.25 |
Indian Rupee | INR | 3.41 | 3.52 |
Japanese Yen | JPY | 2.06 | 2.11 |
Kuwaiti Dinar | KWD | 916.88 | 925.88 |
Malaysian Ringgit | MYR | 62.85 | 63.45 |
New Zealand Dollar | NZD | 176.66 | 178.6 |
Norwegians Krone | NOK | 26.33 | 26.63 |
Omani Riyal | OMR | 732.14 | 740.14 |
Qatari Riyal | QAR | 77.42 | 78.12 |
Singapore Dollar | SGD | 207.5 | 209.5 |
Swedish Korona | SEK | 26.5 | 26.8 |
Swiss Franc | CHF | 305.25 | 307.78 |
Thai Bhat | THB | 8.26 | 8.41 |
KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 204,700 on Tuesday.The price of 10 grams of 24k gold was recorded at Rs175,500.
Likewise, 10 grams of 22k gold were being traded for Rs163,624 while a single tola of 22-karat gold was being sold at Rs 190,849.
Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.
City | Gold | Silver |
Lahore | PKR 204,700 | PKR 2,390 |
Karachi | PKR 204,700 | PKR 2,390 |
Islamabad | PKR 204,700 | PKR 2,390 |
Peshawar | PKR 204,700 | PKR 2,390 |
Quetta | PKR 204,700 | PKR 2,390 |
Sialkot | PKR 204,700 | PKR 2,390 |
Attock | PKR 204,700 | PKR 2,390 |
Gujranwala | PKR 204,700 | PKR 2,390 |
Jehlum | PKR 204,700 | PKR 2,390 |
Multan | PKR 204,700 | PKR 2,390 |
Bahawalpur | PKR 204,700 | PKR 2,390 |
Gujrat | PKR 204,700 | PKR 2,390 |
Nawabshah | PKR 204,700 | PKR 2,390 |
Chakwal | PKR 204,700 | PKR 2,390 |
Hyderabad | PKR 204,700 | PKR 2,390 |
Nowshehra | PKR 204,700 | PKR 2,390 |
Sargodha | PKR 204,700 | PKR 2,390 |
Faisalabad | PKR 204,700 | PKR 2,390 |
Mirpur | PKR 204,700 | PKR 2,390 |
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