FBR may contact authors of Panama Papers to get leads

The Federal Board of Revenue is considering different option and approaches to undertake in order to get to those 200 people who have undeclared offshore assets cited in the Panama Papers. It has emerged that one of the options being considered is contacting the authors of the Panama Papers, in order to get more information regarding those tax evaders.

This same approach was also employed by United Kingdom’s custom’s organization called Her Majesty’s Revenue and Customs (HMRC). According to some reports, the FBR has already written letters to the authors on Wednesday and now they are awaiting their response.

The International Consortium of Investigative Journalists (ICIJ) is the main body behind the Panama Papers Leaks and they have already been helping the HMRC to get the required information. The HMRC Director General Enforcement and Compliance, Jennie Grainger told reports that they are already in touch with ICIJ.

“HMRC can confirm that we have already received a great deal of information on offshore companies, including in Panama, from a wide range of sources, which is currently the subject of intensive investigation,” she said.
“We have asked the ICIJ to share the leaked data that they have obtained with us. We will closely examine this data and will act on it swiftly and appropriately.”

After getting the required information, FBR will seek permission from Finance Minister Ishaq Dar to carry out action against those accused of holding offshore assets, following which a thorough investigation will begin.

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Posted by fatimaarshad on Apr 21 2016. Filed under Pakistan. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.