Wednesday June 12, 2024

FBR traces 20 Pakistani directors of offshore companies

By our correspondents
November 12, 2016

ISLAMABAD: The Federal Board of Revenue (FBR) has so far found about 20 individuals who are directors in different offshore companies at tax havens as their names appeared in Panama/Bahamas Leaks but they never bothered to file income tax returns in last five years from 2011 to 2015, writes Mehtab Haider.

According to official record of the FBR available with The News, Dr Mehmood Ahmed, having Computerised National Identity Card (CNIC)# 4200004463665 and his name appeared in PanamaLeaks as he incorporated Sparwood Enterprise Limited on April 27, 2007. However, the FBR data shows that he has never filed his income tax returns during last five years from tax year 2011 to 2015.

Tabriq Ali Bhai having CNIC# 0565867785451 appeared in PanamaLeaks as he had established Akhan Foundation with given address at DHA Karachi but he had never filed his tax returns in last five years. Muhammad Mukhtar Summar having CNIC# 4230160620629 remained affiliated with Farooq Textile Mills.

Mahvash Khan having CNIC# 3520274599810 is resident of Lahore and she is niece of former health minister Naseer Khan during the Musharraf regime but she did not file her income tax returns during the last tax years from 2011 to 2015.

The FBR’s data also showed that Iqbal Ismi having CNIC# 02974778, Syed Sohaib Ahmed CNIC# 3320116570221 and Ahmed Shafiq CNIC#3520210917473 have not filed their tax returns during the last five years. Amtul Waheed having CNIC #3540180929620 is resident of Rabwa (Chanab Nagar) but did not file tax returns. Ijaz Rashid CNIC#11024631 and Bushra Ajaz CNICV#3520241907220 are residents of Karachi but never filed tax returns in last five years.

Fazal Khan, hailing from Peshawar Cantt having CNIC#1410157686949 has not filed his tax returns from 2011 to 2015. Ilayus Majeed CNIC#3740508022087 is affiliated with Amson Taxtile Mills and living in Karachi but he did not file his tax returns.

Muhammad Gibran Khan CNIC#3520235786707 is son of former minister Naseer Khan and probably he is living in London. Rubina Riaz CNIC#3420104388046 and Waqar Muhammad Siddiqui are residents of Lahore and Karachi respectively and they did not file their tax returns.

Fawaz Villani CNIC#6110126759535 is resident of Karachi but he did not file his tax returns in last five years. When contacted, Fawaz Villani in written reply stated that the companies were established during the period when he was a non-resident of Pakistan and working abroad and doing business abroad. 

“During the relevant period, the laws of Pakistan relating to foreign exchange regulations and Income Tax Ordinance 2001 did not apply to me as I was not a resident of Pakistan. All of the companies were closed down/wound up well before I returned permanently to Pakistan in 2012,” he added.

He said that consequently, he is not an owner of any offshore company and the website of ICIJ is outdated and inaccurate. “The above response is also shared with the FBR. The tax filings/returns are being completed by the FBR deadline of 15 November 2016,” he concluded.