Panamagate verdict: FBR submits ‘incomplete tax data’ of Sharifs
Four references being prepared against ex-ruling family and Ishaq Dar, says NAB chief
PHOTO: File
The Federal Board of Revenue (FBR) has submitted incomplete tax records of the Sharif family and Finance Minister Ishaq Dar with the National Accountability Bureau (NAB), officials said on Monday.
The 20-year records include available income tax returns and wealth statements.
The country’s top graft buster is currently finalising four references against members of the Sharif family and Ishaq Dar in light of the Supreme Court July 28 verdict in the Panamagate case.
According to a senior NAB official, the tax record of the accused matched the data already presented before the Joint Investigation Team (JIT), which probed into the Sharif family’s murky offshore business dealings.
According to the JIT report, the FBR did not provide deposed premier Nawaz Sharif’s tax returns and wealth statements for assessment years 1997-98, 2001-2002, 2004-2005, 2005-2006, 2006-2007 and 2007-2008.
Volume IX of the JIT report also suggests that Sharif did not file wealth statements between 2004 and 2008.
NAB references: Sharif family decides to seek protective bails
Similarly, tax details of Maryam Nawaz are also said to be incomplete. The JIT maintained that the income tax returns and wealth statements of Sharif’s daughter for seven assessment years between 1991 and 2009 are also missing.
Maryam’s husband Capt (retd) Muhammad Safdar started filing tax returns in 2013-14. He was a non-filer until then.
The tax record of Dar is also incomplete, while his income tax records for 10 years, between 1981 and 2002, is not available.
Recently, in a petition filed with the Supreme Court, the finance minister had cited reasons for his incomplete tax records.
Dar stated that during financial years 2002-03 and 2007-08, he was abroad and a non-resident for tax purposes and as such he was not required to declare income earned abroad under Section 11(6) of the Income Tax Ordinance 2001.
He contended that as soon as he returned to Pakistan in 2008-09 he became a resident for tax purposes.
According to a NAB official, the FBR had submitted no additional documents. These details would be attached with the references the national graft-buster was expected to file with an accountability court by September 8 – the deadline set by the top court.
References against Sharifs: NAB wants to quiz JIT
Four references
Chairman NAB Qamar Zaman Chaudhry said four references were being prepared against the Sharif family and Ishaq Dar in accordance with the top court orders.
During an informal talk with media persons after the new building of NAB Headquarters was inaugurated, Chaudhry said the Supreme Court decision would be implemented in letter and spirit.
Addressing the inaugural ceremony, the NAB chairman pointed out that Pakistan’s ranking on the Corruption Perception Index (CPI) had consistently been improving – 127/175 (2013) to 126/174 (2014) to 117/167 (2015) to 116/176 (2016).
“The fight against corruption … cannot be undertaken by any single entity or institution. The state and society will have to act in unison to (completely curb) corruption,” he said, adding that NAB would continue its fight against corruption, without any discrimination.
NAB calls two JIT members
NAB’s combined investigation team has called the JIT members of the Panamagate to record their statements as official evidence. According to sources, statements of two JIT members, including Wajid Zia, will be recorded tomorrow. The supervising judge had permitted NAB two days back to record statements of the JIT members.
According to INP, the two members have been called to NAB Rawalpindi office. Federal Board of Revenue (FBR) has given NAB 20-year tax record of former PM Nawaz Sharif, Maryam Nawaz, Hussain Nawaz, Hasan Nawaz and Ishaq Dar. According to sources, NAB has also acquired record from Securities and Exchange Commission of Pakistan (SECP) and the excise department and has started compiling its investigation report.
The 20-year records include available income tax returns and wealth statements.
The country’s top graft buster is currently finalising four references against members of the Sharif family and Ishaq Dar in light of the Supreme Court July 28 verdict in the Panamagate case.
According to a senior NAB official, the tax record of the accused matched the data already presented before the Joint Investigation Team (JIT), which probed into the Sharif family’s murky offshore business dealings.
According to the JIT report, the FBR did not provide deposed premier Nawaz Sharif’s tax returns and wealth statements for assessment years 1997-98, 2001-2002, 2004-2005, 2005-2006, 2006-2007 and 2007-2008.
Volume IX of the JIT report also suggests that Sharif did not file wealth statements between 2004 and 2008.
NAB references: Sharif family decides to seek protective bails
Similarly, tax details of Maryam Nawaz are also said to be incomplete. The JIT maintained that the income tax returns and wealth statements of Sharif’s daughter for seven assessment years between 1991 and 2009 are also missing.
Maryam’s husband Capt (retd) Muhammad Safdar started filing tax returns in 2013-14. He was a non-filer until then.
The tax record of Dar is also incomplete, while his income tax records for 10 years, between 1981 and 2002, is not available.
Recently, in a petition filed with the Supreme Court, the finance minister had cited reasons for his incomplete tax records.
Dar stated that during financial years 2002-03 and 2007-08, he was abroad and a non-resident for tax purposes and as such he was not required to declare income earned abroad under Section 11(6) of the Income Tax Ordinance 2001.
He contended that as soon as he returned to Pakistan in 2008-09 he became a resident for tax purposes.
According to a NAB official, the FBR had submitted no additional documents. These details would be attached with the references the national graft-buster was expected to file with an accountability court by September 8 – the deadline set by the top court.
References against Sharifs: NAB wants to quiz JIT
Four references
Chairman NAB Qamar Zaman Chaudhry said four references were being prepared against the Sharif family and Ishaq Dar in accordance with the top court orders.
During an informal talk with media persons after the new building of NAB Headquarters was inaugurated, Chaudhry said the Supreme Court decision would be implemented in letter and spirit.
Addressing the inaugural ceremony, the NAB chairman pointed out that Pakistan’s ranking on the Corruption Perception Index (CPI) had consistently been improving – 127/175 (2013) to 126/174 (2014) to 117/167 (2015) to 116/176 (2016).
“The fight against corruption … cannot be undertaken by any single entity or institution. The state and society will have to act in unison to (completely curb) corruption,” he said, adding that NAB would continue its fight against corruption, without any discrimination.
NAB calls two JIT members
NAB’s combined investigation team has called the JIT members of the Panamagate to record their statements as official evidence. According to sources, statements of two JIT members, including Wajid Zia, will be recorded tomorrow. The supervising judge had permitted NAB two days back to record statements of the JIT members.
According to INP, the two members have been called to NAB Rawalpindi office. Federal Board of Revenue (FBR) has given NAB 20-year tax record of former PM Nawaz Sharif, Maryam Nawaz, Hussain Nawaz, Hasan Nawaz and Ishaq Dar. According to sources, NAB has also acquired record from Securities and Exchange Commission of Pakistan (SECP) and the excise department and has started compiling its investigation report.