Chief Justice took suo notice of laundered money of Pakistanis in Swiss accounts

ISLAMABAD: Chief Justice of Pakistan (CJP) Mian Saqib Nisar on Thursday took suo notice over alleged laundered money of Pakistanis in Swiss accounts.

The three-judge bench headed by the CJP issued notices to the Federal Board of Revenue (FBR), State Bank and Securities and Exchange Commission of Pakistan to submit a comprehensive report within two weeks regarding the money which is lying in Swiss accounts.

Read Also: “How can a dishonest man be declared honest after five days?”

Earlier this month tax authorities said that the revised treaty on the Avoidance of Double Taxation did not cover past transactions, and thus it seemed the secret of the $200 billion stashed in Switzerland by Pakistanis will remain a secret.

“The scope of the revised treaty is limited to the transactions that would be carried out from January 2018,” said Dr. Mohammad Iqbal, Member Inland Revenue Policy of the FBR.

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *