For the record, Imran Khan dodged taxes too using offshore firm: German journalist

[Devil Soul]

For the record, Imran Khan dodged taxes too using offshore firm: German journalist
By News Desk
Published: August 1, 2017
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German investigative journalist Frederik Obermaier and PTI chief Imran Khan. PHOTO: ICIJ/File

Frederik Obermaier, a German investigative journalist and one of the reporters who unearthed the Panama Papers scandal, has pointed out that Pakistan Tehreek-e-Insaf chief Imran Khan too had avoided paying taxes to the UK using an offshore firm.
Frederik Obermaier

✔@f_obermaier
Just for the record: Mr Khan avoided UK-taxes via an offshore-company #NiaziServicesLimited https://twitter.com/icijorg/status/891810204609765376 …

12:23 PM - Jul 31, 2017

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The tweet comes in the wake of the Supreme Court deposing prime minister Nawaz Sharif following a probe into his family’s offshore assets that surfaces in the Panama Papers.

SC cannot disqualify Imran Khan for submitting false declaration: CJP

The court disqualified Sharif from holding a public office for hiding assets in his nomination papers for the 2013 general elections.

The court is also hearing a petition against Imran Khan seeking his disqualification alleging non-disclosure of assets, ownership of offshore companies and receipt of foreign funds for the party.

The PTI chief informed the apex court that he had started earning money abroad when he started playing cricket during his days as an undergraduate student at Oxford University, England.


He was later selected to play for Pakistan along with Worcestershire from 1971. He had played for Sussex County from 1977 to 1988. All the payments Imran received had income tax deducted from them at source, the statement reads.

He further informed the court that he had to spend his days outside Pakistan to fulfil his commitment to Sussex Country Cricket and to participate in other international cricketing events between 1977 and 1988. As he was a “non-resident, the Pakistani income tax law did not apply to him”.

SC seeks money trail of Imran’s London flat

He also played for the Kerry Packer series, a cricket competition, between 1977 and 1979, for $25,000 per year. Besides his earning, there were also the airfare, boarding, lodging costs and prize money.

Imran submitted that he had played in Australia for New South Wales between 1984 and 1985, earning Australian $50,000. In 1984, he had mortgaged a one-bedroom apartment in London through Royal Trust in the name of Niazi Services Limited.

 

[Cent4]

There is difference between tax avoidance and tax evasion.

There is nothing wrong with legal tax avoidance.

 

[Rusty]

In Canada, you are allowed to have a "Tax Free Savings Account" Where any money you put in there is not taxed. That is tax avoidance, I did not evade any taxes since this is allowed.

 

[Imad.Khan]

Actually IK himself said that the reason he created NiaziServices was to avoid paying heft taxes as he wasn't a citizen of UK.

Here in Australia there is a similar law, if you are a non-resident you pay more tax as you are not allowed to take advantage of the tax-free threshold and if you are an overseas resident buying property in Aus, you will be paying a higher staff duty as well.

 

[MastanKhan]

Hi,

What that german fool does not know is that all the english counties DEDUCTED THE TAXES before the player was given the check or money deposited into their accounts---and same hold true for the australian taxes---.

As IK held no public office---the court had NO RIGHT to ask him that question---.

 

[my2cents]

Hi,

What that german fool does not know is that all the english counties DEDUCTED THE TAXES before the player was given the check or money deposited into their accounts---and same hold true for the australian taxes---.

As IK held no public office---the court had NO RIGHT to ask him that question---.

Why can't IK be held for higher standards and make him report all his sources of income and assets??? Is he not seeking public office?? I don't know your laws for persons seeking public office.

This whole incident of Panama leaks with NS would not have blown up in his face, if only he was smart enough to go for full public disclosure of his assets from the beginning.

P.S> How much is IK worth anyways???

 

[Clutch]

In Canada, you are allowed to have a "Tax Free Savings Account" Where any money you put in there is not taxed. That is tax avoidance, I did not evade any taxes since this is allowed.

The TFSA has a pretty low cap.

 

[MastanKhan]

Why can't IK be held for higher standards and make him report all his sources of income and assets??? Is he not seeking public office?? I don't know your laws for persons seeking public office.

This whole incident of Panama leaks with NS would not have blown up in his face, if only he was smart enough to go for full public disclosure of his assets from the beginning.

P.S> How much is IK worth anyways???

Hi,

For white collar financial crimes---for a public office holder----there is no statute of limitations---which means---there is no time bar to prosecute that person---such as Nawaz Shareef---.

Imran Khan has held no public office---and neither has he worked for the govt of pakistan---. So---technically it is illegal for the court to ask him directly on a personal complaint to produce a money trail.

Now---if there was a police investigation done---there was a police report---and the investigation stated that the money is ill-begotten---then the court can ask for a money trail---but in this case---there is possibly a statute of limitations---that is there is a time restraint.

When he seeks public office---he has to declare his assets and show the tax that he has paid---and nothing more---. Now---10 years down the road---his assets can be challenged by the income tax dept---by the election commission----but not directly by the supreme court---.

I mean to say---there is a STAIR STEP progression of the charges---.

In this case---the supreme court is going as far back as the 70's---which is an abuse of power---.

 

[Safriz]

Avoided UK tax not Pakistani tax.

 

[I.R.A]

As he was a “non-resident, the Pakistani income tax law did not apply to him”.

If he really was a non resident as defined in Pakistan tax laws (you have to be in Pakistan for more than 180 days or so in tax year, to be treated as resident) then his foreign source income is exempt for Pakistan taxation.

Avoiding UK taxes needs to be more detailed as to how? Because any payment made to him would be net of tax .... tax withheld at time of payment.

 

[Zibago]

Why can't IK be held for higher standards and make him report all his sources of income and assets??? Is he not seeking public office?? I don't know your laws for persons seeking public office.

This whole incident of Panama leaks with NS would not have blown up in his face, if only he was smart enough to go for full public disclosure of his assets from the beginning.

P.S> How much is IK worth anyways???

He has declared everything in court just ask pmln lawyer judge ney usko moan dikhaney key kabil nahi chora

 

[Finer]

It is called selective accountability. One rule for one and one rule for other. Something doesn't change.

 

[Zibago]

It is called selective accountability. One rule for one and one rule for other. Something doesn't change.

Masla Uk walon ko hona chahiye hamain is sey koyi masla nahi

 

[PurpleButcher]

Mr.Frederik is an international personality, he might not be following pakistani media. But this had already been confessed by Imran Khan in his several past interviews. There is nothing dramatic about it.

The flat he bought was from his salary (which he received after his tax reductions). When he wanted to sell this property and transfer the money to pakistan, there were 2 options. Either he transfers it from his own account or he transfers it from an offshore company. (The former options had high tax deductions and in latter option he could avoid this - So he chose the latter option). The offshore company was just formed for this purpose and has no transactions since then.

For instance, If have to go to lahore from rawalpindi, there are two routes.
If I use option of Motorway, I would need to pay high tax of about 500rs . But if I use the option of GT Road, I could avoid tax of of about 350rs.
So, by using GT Road,... Have I avoided the taxes? YES.
But is it illegal or corruption? That I leave for you to comprehend

 

[Kabira]

It doesn't matter even if he evaded UK taxes, can't get DQ in Pakistan based on that.