Nationwide Accountability Bureau (NAB) has written to a number of state establishments in search of report and particulars of offshore corporations reportedly established in tax havens overseas by Pakistan Tehreek-i-Insaf (PTI) chief Aleem Khan and Pakistan Muslim League-Quaid (PML-Q) chief Chaudhry Moonis Elahi, it emerged on Friday.
The event comes lower than a month after NAB Chairman retired Justice Javed Iqbal ordered a direct inquiry into the businesses held by 435 Pakistanis in tax havens overseas.
Based on paperwork acquired by DawnNews, NAB Lahore has in correspondence to the State Financial institution of Pakistan, the Federal Board of Income (FBR) and to SBP’s Monetary Monitoring Unit, sought particulars of remittances and financial institution transactions and document of tax returns of Khan and his spouse by January 23.
Based on NAB, the PTI chief is the proprietor of an offshore firm, HEXAM Funding Abroad Ltd.
The bureau has additionally written to the Securities and Trade Fee of Pakistan (SECP) and SBP to hunt details about the offshore agency owned by former MPA Elahi, referred to as Olive Grove Belongings Restricted.
It has requested submission of particulars of Elahi and his spouse’s remittances, and different data that could be related to the offshore firm.
After placing it off for almost two years, final month the NAB had lastly determined to tighten the noose round house owners of the offshore corporations uncovered within the Panama Papers.
The Supreme Courtroom had in November final yr despatched notices to NAB and the federal authorities looking for studies on motion taken towards Pakistanis named within the Panama Papers.
The Panama Papers, an enormous investigation into secretive offshore corporations owned by the world’s political and enterprise elite, had sparked controversy in a number of nations final yr. At residence, their publication led to the disqualification of former prime minister Nawaz Sharif.
It must be identified right here that the establishing of off-shore corporations is, in itself, not a felony act and has many official makes use of.
Nevertheless, critics have argued that these corporations are established for tax evasion and demanded that motion be taken towards those that interact in cash laundering.
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