ISLAMABAD: Member Inland Revenue-Policy Rehmatullah Khan Wazir has said that the Federal Board of Revenue (FBR) could not question about the wealth tax related questions from the taxpayers after the passage of five years.
In this regard, as per law, no tax return filed by any taxpayer can be scrutinized to sort out payment of wealth tax in lieu with declaration of any asset after the passage of five years,” he said while talking to reporters after meeting of the National Assembly Standing Committee on Finance and Revenue.
He said that the committee had sought briefing regarding measures taken by the FBR on the disclosures made in the Panama Leaks. He said that he told the committee that only FBR Chairman Nisar Mohammad Khan could brief the committee on this issue. However, Nisar Mohammad Khan is in Dubai and is busy in talks with the International Monetary Fund (IMF) for the 11th quarterly reviews of extended funds facility (EFF) program.
He said that he had further briefed the committee that the ongoing talks with IMF would conclude on Wednesday (May 11) and the chairman would likely to come back by Thursday (May 12). Therefore, the committee could write to the FBR for briefing on specific areas regarding Panama Leaks.
He further told Customs Today exclusively that committee had given one week time to FBR for making full preparations about progress made on the issue of Panama Leaks. However, I have asked the committee members to come up with a list of questions which may be asked due course of briefing on this issue” he added.
To a question about FBR’s stance on the legal status of discussion on Panama Leaks issue on the floor of National Assembly Standing Committee, Wazir observed that the government had presented the issue to the court of the Chief Justice by writing a letter in this issue, therefore, the issue had become sub judice and could not be brought under discussion.
“It is an issue of legality because the government had written a letter to Chief Justice of Pakistan for the formation of a judicial commission to probe into the matter under the law” he maintained.
