The Federal Board of Revenue (FBR) may file application for registration of FIRs against those selected individuals whose named in Panama/Bahamas Leaks .
According to sources, the FBR found 114 cases whereby individuals were non-compliant despite sending them tax notices after their names appeared in Panama Leaks.
Under the income tax law, the FBR is empowered to go ahead with prosecution but it is yet to see how the Board demonstrates its muscles against those who would be proven tax defaulters but never bothered to come and comply in accordance with different clauses of the tax law.
According to local newspaper ‘The News’ referring an FBR official said “We are making arrangements for prosecution against those who have failed to comply against our tax notices. The FIRs will be registered in accordance with clauses of Income Tax Ordinance 2001,”
