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FBR to probe Pakistanis named in paradise papers!

KARACHI: The Federal Board of Revenue (FBR) has initiated investigations against Pakistanis named in Paradise Papers.

Names of 19 people have been sorted out from the total of 135 who have invested in offshore firms.

Regional Tax Officers have been called for this purpose. Meanwhile, the tax regulator is in touch with State Bank of Pakistan, SECP, NADRA and other related departments to seek assistance.

Highly placed sources revealed that FBR has demanded details relating to the financial transactions and bank accounts of all the 19 people.

The investigations will be held under tax-dodging and money-laundering laws.

M M Alam

M. M. Alam is a Pakistan-based working journalist since 1981. Karachi University faculty gold medalist Alam began his career four decades ago by writing for Dawn, Pakistan’s highest circulating English daily. He has worked for region’s leading publications, global aviation periodicals including Rotors (of USA) and vetted New York Times as permanent employee of daily Express Tribune. Alam regularly covers international aviation and defense-related events including Salon Du Bourget (France), Farnborough (United Kingdom), Dubai (UAE). Alam has reported thousands of events and interviewed hundreds of people in Pakistan, UAE, EU, UK and USA. Being Francophone Alam also coordinates with a number of French publications.