ISLAMABAD: Investigations against CEO and other officials of Axact are still going on. Sources in the Federal Board of Revenue (FBR) said that Axact’s officials purchased properties in all posh areas and did not deposit a single penny in the form of income tax or property tax in national kitty. Sources further revealed that these properties were purchased through illegal income of forged degrees and money laundering.
The sources said that Axact officials are also involved in purchase of a land in Defense Housing Authority measuring 45 acres, besides this these officials purchased properties in Nazimabad, Clifton, also.
Axact’s former software engineer Atif, who is in FIA custody, is providing some valuable information to investigators. Sources further said that arrested Axact CEO Shoaib Shaikh purchased land and other properties from their staff name and operated several bank accounts. FBR sources said that we are compiling different reports and after thorough investigations we will deduct the tax amount from the bank accounts of the company.
