ISLAMABAD: In bid to further widen the probe into Panama and Bahamas leaks, the Federal Board of Revenue (FBR) has asked the State Bank of Pakistan (SBP) and the Securities and Exchange Commission of Pakistan (SECP) to provide details of people named in the scandals.
The revenue authority sought the detail of persons’ local and overseas bank accounts in Pakistani banks, inward and outward remittances, bank lockers, loan write-offs and investments made by these individuals in the country’s capital markets.
The FBR is empowered under section 176 of Income Tax Ordinance 2001 to seek information and issue notice to obtain information or evidence.
FBR spokesman Dr Iqbal said the FBR made request to other agencies for providing information about the persons named in Panama and Bahamas leaks.
The FBR has sought assistance from the SBP on certain issues including bank accounts of individuals in Panama and Bahamas leaks. The FBR sought information on foreign and local currency accounts by individuals named in Panama Leaks, both inward and outward remittances made by these individuals and bank lockers maintained by these individuals in Pakistan.
