The National Accountability Bureau (NAB) has asked the Federal Board of Revenue (FBR) to explain whether Mian Mansha and his family rightly and legally obtained an amnesty scheme in 2018 for the legalization of a hotel and club located in the United Kingdom (UK).
Documents of NAB exclusively available with ProPakistani revealed that the NAB is investigating undeclared assets in the UK owned by Mian Mansha and his family in Pakistan. The bureau has also sought the cooperation of the FBR for the completion of the investigation.
In this regard, the NAB has approached FBR Chairman Asim Ahmed to seek information about the tax amnesty scheme availed by the said owners of hotel/club in the UK.
According to the NAB documents, the anti-corruption watchdog has sought the provision of information/documents under Section 19 of the National Accountability Ordinance (NAO) 1999 during the investigation against Mian Muhammad Mansha, Mian Umer Mansha, Mian Hassan Mansha, Aimal Raza Mansha, and others.
NAB is conducting the subject investigation on the allegations of corruption, corrupt practices, and money laundering regarding the purchase of Saint James Hotel and Club London by the subject accused persons.
During investigation proceedings, it came on record that the matter regarding the purchase of Saint James Hotel and Club London is also under investigation in FBR (Directorate of Intelligence and Investigation and Large Tax Office Lahore).
The FBR inquiry officer/audit officer passed an assessment order dated 30th June 2017 against the subject accused persons and charged tax on undeclared assets. This decision was set aside by Appellate Tribunal Inland Revenue Lahore vide orders dated 22nd January 2018.
Subsequently, FBR filed an appeal/reference dated 2nd May 2018 before Lahore High Court which is under adjudication. However, during the pendency of reference before the Lahore High Court, the accused persons availed tax amnesty in June 2018. In this context/background, NAB has asked FBR whether amnesty claimed by the alleged accused persons qualifies the criteria set by the law under the amnesty scheme.
Under the amnesty scheme 2018, every resident taxpayer being an individual having a foreign income equal to or above $10,000 or having foreign assets with a value of $100,000 or more shall furnish a statement, hereinafter referred to as the foreign income and assets statement, in the prescribed form and verified in a prescribed manner giving particulars of the person’s total foreign assets and liabilities as on the last day of the tax year; any foreign assets transferred by the person to any other person during the tax year and the consideration for the said transfer; and complete particulars of foreign income, the expenditure derived during the tax year and the expenditure wholly and necessarily to derive the said income.
It is pertinent to mention here that the Credit Suisse Leaks had revealed that one of Pakistan’s wealthiest businessmen, Mian Mohammad Mansha, appears to have had a shared bank account with a phantom company that helped finance the sale of a five-star hotel in London.
While Mansha has always maintained that he had no involvement in the purchase of a five-star London hotel that is being investigated for alleged forgery, tax fraud, and money laundering, bank documents were collected by the Organized Crime and Corruption Reporting Project (OCCRP) and its Suisse Secrets partners that linked him to the hotel purchase.
Source: Pro Pakistan