ISLAMABAD: The documents provided by the Her Majesty Revenue and Customs, UK to the Federal Board of Revenue (FBR) revealed that St. James Hotel, London was purchased by the family of renowned industrialist and owner of MCB, Mian Mansha, sources said.
The UK Customs has sent the details regarding the purchase of the hotel along with tax details of the owners. The copies of tax returns collected by the UK Customs were also sent to the FBR, which revealed the hotel is the property of Mansha’s family, the sources said. A loan was also borrowed from a British bank to purchase the hotel.
It may be mentioned here that the FBR had asked the UK Tax Department to provide details of regarding the owners of the hotel if owned by Pakistanis. The FBR had sought these details under a tax agreement between two countries. It may also mention here that the FBR is also investigating the matter that Mansha’s family sent amount to UK for purchasing hotel through legal or illegal channels.
Now, the UK department has sent detailed documents in this regard following the agreement. If hotel was not the owned by a Pakistani, the UK Customs will not give details and send a letter stating that the hotel is not owned by a Pakistani, the sources said.
