ISLAMABAD: The two top executives of an international IT firm, busted by the Intelligence and Investigation Inland Revenue (IR) on tax evasion charges, have been in Central Jail Adiala on judicial remand.
As per details, the IR I&I, in first of its kind case, nailed two senior executives of the top global IT firm after they were found evading tax. The IR Intelligence directorate got remand of both the executives from a judicial magistrate. However, due to holidays on Saturday and Sunday, both the high-level employees were sent to Central Jail Rawalpindi and due to leave of the Customs judge concerned on Monday and Tuesday, it is expected that the IR I&I will be able get physical remand of the two accused on Wednesday for interrogation.
On the other hand, the IR I&I officials are of the view that tax evasion has been considered as a major crime/offence in developed countries. According to them, developed countries with which such business deals are cut, consider tax evasion as a very serious crime. Tax evasion in countries like the US, the UK and other developed countries is a serious crime and definitely the same applies to Pakistan. “Our country is no exception; if the local management of an international IT company is involved in tax evasion, the investigators will follow the due process of law,” they added.
The company has been engaged in trade of computer equipment with Pakistani suppliers. During the criminal process, the company was bound to provide all relevant evidence pertaining to the case. But instead extending cooperation to the agency, they allegedly concealed the information, which hindered the prosecution. Moreover, the independent evidence collected by the agency reportedly proved that they were allegedly involved in tax evasion with the connivance of the supplier.
