FBR checks offshore accounts

KARACHI: The Directorate of Intelligence and Investigation, Inland Revenue (I&I IR), Karachi launched a crackdown against persons, who parked untaxed money in their offshore accounts, official sources said on Monday.

In this regard, the I&I IR conducted a raid at a hair transplant clinic located at Clifton on information that the owner of the clinic had offshore account and transferred untaxed money to such account.

An official at the directorate said initial investigation revealed that the owner had a registered clinic in Dubai. The person made huge income from local business but did not declare it to the tax authorities. “Instead, the amount shifted to Dubai accounts to conceal his local income,” the official said.

The official said in the raid the directorate seized all the records of the clinic and further investigation has been initiated.