Disqualification case: Jahangir denies tax evasion, loans write-off charges

ISLAMABAD: Pakistan Tehreek-e-Insaf’s Secretary General Jahangir Tareen has denied that his name was mentioned in the ‘Panama Papers’ or being owner of the any ‘offshore’ company or asset.

In a written reply to the petition – submitted by PML-N’s Hanif Abbasi – that sought his disqualification over alleged tax evasion and hiding assets, Tareen through his counsel Sikandar Bashir Mohmand maintained that the petitioner (Abbasi) has failed to produce any evidence or material which can even remotely indicate or suggest let alone prove that he (Tareen) was named in the so-called ‘Panama Papers’.

The PTI leader said he is not the beneficial owner of any “offshore company. Moreover, he stated that he never admitted to being the beneficial owner of any “offshore company” and all allegations or averments in the petition (including references to any press reports) to this effect are vehemently denied.

He said he voluntarily and in good faith disclosed to public that his independent children are the beneficiaries under a trust arrangement in an offshore company and all the funds, constituting statutory income tax paid income in Pakistan, for settlement and establishment of the said trust were duly remitted through official banking channels in accordance with applicable law.

He also denied the allegations and insinuation in the petition in this regard and maintained that press report appended with the petition are factually incorrect.

He also submitted that the nomination form on the basis of which he was elected and is a member of the National Assembly is dated September 9, 2015 and “this nomination form does not contain any of the information, figures and data which is alleged in the petitioner to have given rise to a discrepancy”.

According to the written reply of Tareen, the Appellate Tribunal Inland Revenue (Lahore) in its ruling had concluded by holding the declared agriculture income of Tareen as genuine and correct, and consequently deleted the addition in his incoming amounting to Rs648, 258,103.

He stated that without prejudice to the foregoing, he made full and correct disclosure to both the Election Commission of Pakistan, in the nomination form dated March 27, 2013, and the Federal Board of Revenue, in tax returns for FY2010-11 dated October, 7, 2010 and November 17, 2011, respectively.

While responding to the allegations of writing off loans from various financial institutions, Tareen submitted that the allegations and averments against him have been made mischievously.

He prayed to the court that the petition against him be dismissed by the apex court and special and exemplary cost be graciously awarded in favour to him and against the petitioner for having knowingly filed frivolous, baseless and non-maintainable petition against him.

Published in The Express Tribune, November 16^th, 2016.