LAHORE (Staff report) – Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan on Friday admitted that he owned an offshore company.

While talking to the media in London, PTI chief admitted that he had formed an offshore company to evade UK taxes.

Imran Khan said that his accountants advised him that if he was going to sell his flat, which he bought with money earned in county cricket, he would have to pay heavy taxes as he was not a British passport holder. To avoid British taxes, the PTI chief said the property was owned through an offshore company.

“I purchased a flat in UK with the money I earned playing county matches,” Imran said.

Earlier, speaking on Geo News talkshow ‘Naya Pakistan’ with Talat Hussain, PTI spokesman Naeemul Haq said Imran Khan formed an offshore firm following all legal formalities when he was playing for Sussex county club to buy a flat in London.

“I was Khan’s bank manager in London at that time. His accountants formed this company to buy the London flat,” said the PTI spokesman, adding that when the flat was sold, Imran brought the money to Pakistan through Habib Bank and paid all taxes.