The Federal Board of Revenue (FBR) has sent letters to all those whose names appeared in Panama Papers, including Maryam Nawaz and Hussain Nawaz.
The Federal Board of Revenue (FBR) began on Saturday sending letters to over 600 Pakistanis named in the Panama Papers for owning offshore companies, but experts claim the chances of recovery remain bleak.
An FBR spokesman said notices had been issued to all those whose names appeared on media with regard to Panama Leaks.
The FBR spokesperson said the letters have been sent under Section 176 of the Income Tax Ordinance, which empowers tax officials to seek information about any transaction. However, the penalty for not giving information under Section 176 is only Rs25,000, with no other severe punishments attached.
The FBR spokesman rejected the impression that the notices were issued on Saturday (today), saying the letters had already been issued. ”No letter has been written today,” he said
