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10-02-2016, 05:31 AM
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Several including Hassan, Hussain seek adjournment: FBR
PanamaLeaks issue
ISLAMABAD: The FBR is contacting different countries for obtaining information about tax matters of those who own offshore companies, but certain individuals whose names appeared in the PanamaLeaks have sought adjournment in accordance with the law against the tax **tices. The FBR has established contacts with those countries where they had already signed avoidance of double taxation agreement in order to get tax details of those who appeared in the PanamaLeaks. The FBR high-ups confirmed to The News on Saturday that work on tax **tices sent out to the owners of offshore companies was underway but there was need to understand the difference between the fiscal law and criminal law. Under the criminal law, after registering an FIR one can be arrested but under the fiscal law the opportunities are provided before penalizing anyone. Against sent out **tices, about 30 individuals admitted to owning offshore companies. Some individuals sought adjournment of reasonable time and under the law the FBR has granted them time of two weeks to reply. After the given timeframe, the FBR can start penalizing those who would fail to comply with the tax **tices by first imposing Rs50,000 after which the process of prosecution will be started under which one-year imprisonment can be given against proved tax evaders. Regarding adjournment seekers’ list, the FBR high-ups are tight-lipped and argued that under the Income Tax Law 2001 they were bound to hide the tax details of any individuals. “I can**t give you details of any individual including the son of PM Nawaz Sharif,” FBR’s spokesman Dr Iqbal replied when The News asked him to comment on whether the PM’s son had sought adjournment against the **tice sent to him under Panama Leaks investigation here on Saturday evening. This reporter also contacted FBR’s Director General Intelligence & Investigation (I&I) Inland Revenues Khawaja Tanvir on Saturday and without going into specific details of individual cases, he said as a matter of fact financial investigations all around the world were based on documentary evidence, and in crimes of white-collar nature like this, evidence was in the possession of numerous and scattered institutions and parties. He said the law would take its course but they could **t penalize anyone unheard so ample opportunity under the law would be provided to all individuals in accordance with the fiscal law of the land. However, the sources said the FBR had already initiated collection of evidence both within and outside Pakistan, and **tices under Section 176 of the Ordinance in this case had been used to gather evidence from different parties, including the taxpayers involved directly. Regarding difference between the income tax under Section 122 (5) and u/s 176, the official said show cause **tices u/s 122(5) were only issued once investigation was concluded and complete evidence had been collected. Before collection of evidence and definite information against any resident person, **tices u/s 122(5) can**t be issued. **tices issued under Section 176 of the Income Tax Ordinance 2001which were served directly to the taxpayers is just one part of investigation. There is need to understand investigation under the fiscal law as such inquiry under the law provides for 2-3 opportunities of hearing to the taxpayer. Afterwards, the law empowers the FBR to take penal measures in cases where persons willfully fail to comply with the legal **tices. The Bureau is also empowered under the law to prosecute any person who fails to furnish information asked through a **tice under Section 176 of the Income Tax Ordinance, leading to imprisonment for a term of one year in addition to the penalties. Hence, the question of ig**ring the FBR’s **tices does **t arise, as after affording reasonable opportunity of hearing, the bureau will start imposing penalties, and cases of willful default will be sent to the trial court for prosecution. These penalties will continue until the person complies with and furnishes the required information to the tax authorities. The FBR high-ups argued that they would pursue pursuing investigations in cases of Panama and Bahamas leaks keeping in view all relevant provisions of law and would be using all available channels of gathering necessary information and evidence. A case, whether civil or criminal, can**t stand trial in a court of law unless it is substantiated by strong documentary evidence. أكثر... ??????? ??????: Several including Hassan, Hussain seek adjournment: FBR || ??????: ahlam1399 || ??????: اسم منتداك
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