ISLAMABAD: Federal Board of Revenue (FBR) Chairman Mohammad has directed Director General Inland Revenue Intelligence and Investigations Khawaja Tanveer Ahmad to speed up the investigations into Panama leaks and Bahamas leaks on priority basis.
Sources told Customs Today that FBR’s Directorate of Inland Revenue Intelligence and Investigations is conducting investigations against individuals whose names are mentioned in Panama and Bahamas leaks. Sources said that NADRA (National Database and Registration Authority) is extending full cooperation and support to the FBR in completing these investigations.
While on the other hand, Director General Khawaja Tanveer directed all the relevant departments to obtain all required information about the persons involved in Panama and Bahamas Leaks.
It is necessary to mention here that Federal Minister for Finance Ishaq Dar during a meeting directed FBR’s Broadening of Tax Base department to issue notices to all those individuals to whose names are mentioned in Panama and Bahamas Leaks.
Sources said that if the individual will not file his or her reply then during the initial stage Rs25,000 penalty will be imposed on them. Sources said that Directorate of Inland Revenue with the help of commercial banks scrutinizing all the transactions made by these individuals to determine that the funds which were transferred outside Pakistan were transferred through legal or illegal channels.
Sources said that FBR is also conducting investigations against Karachi Development Authority, Baharia Town, Capital Development Authority and Lahore Development Authority.
FBR already sought assistance of commercial bank in completing their investigations on Panama Leaks and Bahamas Leaks.
