KARACHI: National Accountability Bureau (NAB) has power under a law to initiate probe against individuals who have availed any tax amnesty, a top official said.
The government has planned another scheme to give people an opportunity to declare their untaxed offshore assets.
“Previously, amnesties have been announced to give immunity from tax evasions,” Altaf Bawany, director general of NAB Karachi said. “However, the law allows the bureau to probe into funds obtained through criminal (activities) and drugs (peddling).”
While talking to the office bearers of Karachi Chamber of Commerce and Industry (KCCI), Bawany said NAB could conduct investigation even after an individual avails an amnesty. But, he didn’t mention how many investigations had the bureau initiated against people who availed at least three amnesty schemes announced during the tenure of the present government.
Under the proposed tax amnesty scheme expected next week, Pakistan’s expatriates or locals who have assets in foreign country would be able to declare their holdings against two percent tax payment if they agree to bring them back or four percent in case they opt for keeping them abroad.
NAB chief said individuals who avail the money whitening schemes are the ‘bull’s-eye’ for the bureau.
Highlighting the NAB performance in Karachi region, he said around 400 cases are under investigation. “NAB Karachi recovered Rs30 billion since its establishment in 1999.”
