ISLAMABAD: The Federal Board of Revenue (FBR) has asked Her Majesty Revenue and Customs, United Kingdom to provide details of foreign investments, made by family of renowned Pakistani businessman, Mian Mansha.
FBR has demanded such details under Section 26 of the double taxation relief agreement signed by Pakistan, UK and Ireland, through a letter, which had been sent by Inland Revenue Policy (IR-Policy) former member Shahid Hussain Asad. He sent this letter following the investigations, made by IR Intelligence and Investigation with the consent of FBR former chairman Tariq Bajwa.
It may be mentioned here that IR Intelligence is currently investigating many high profile cases related to taxes, following the directions of Director General Haroon Tareen.
And on his directions, Director Dr. Bashirullah is investigating the cases of Mian Mansha, former president Asif Ali Zardar, Malik Riaz owner of Bahria Town and other influential people.
According to the investigations, which have been conducted so far against Mian Mansha and his family, a Saint James’s hotel, located in the area of Park Palace London, United Kingdom, has been purchased by Umar Mansha, Hassan Mansha and Aimal Mansha with total cost of Rs 9 billion.
The Mansha family invested such a huge amount through C-Capital, a credit provider company.
Now, FBR sought the details to know how Mansha family satisfied the UK government that invested amount was legal, besides to know whether they have taken benefit of double taxation relief agreement or not.
The response by UK Customs will assist the FBR to conclude the case.
