ISLAMABAD -UNS- Finance Minister Ishaq Dar seems to be in hot water as report submitted by Panamagate joint investigation team (JIT) accuses him of tax evasion.
Panamagate JIT submitted report in SC on July-10 following 60 days of intense probe.
The report identifies unforeseen surge of 91 times from Rs9.11 million to Rs831.70 million in Ishaq Dar’s assets during years 2008, 2009 and existence of contradiction in the income earned and assets declared. Likewise, report also points out conflict in Dar’s record submitted before Federal Board of Revenue (FBR) and his financial statements.
Prima facie, the report reads, Dar was involved in tax evasion during 1981-2002 while he also did not submit tax returns during the aforementioned period.
Report states that Dar donated Rs169 million to his own charity organization ostensibly and showed the amount as personal expenditure in wealth statement. However, Dar kept amount in his possession, thus, evaded tax by seeking immunity.
“This exorbitant leap in his asset is not clarified/supported through any plausible financial documents.”