October 05 , 2016
News
Probe may uncover offshore firms of Pakistanis in Dubai
By: By Abrar Hamza
KARACHI: The Federal Board of Revenue (FBR) raid on Laser Inn, Aesthetic, a famous hair transplant clinic, has turned out to be quite productive, as the detection of an offshore company has paved the way for the authority to find more Dubai-based offshore companies.
Sources privy to the development told Daily Times that the FBR's Intelligence and Investigation-Inland Revenue (I&I-IR) Karachi conducted a successful raid on the clinic of famous hair transplant surgeon Dr Zulfqar Tunio and seized crucial record.
"Acting upon credible information, the FBR's sub-division, I&I-IR, raided on Laser Inn, Aesthetic, on Monday evening and unearthed a significant amount of suppression of income of about Rs 100 million by the owner of the clinic, Dr Zulfqar Tunio," said a source.
The source added that an offshore company owned by Dr Tunio had also been detected during the raid. "Exact details of the offshore companies are sketchy, but further investigation into the matter may reveal a network of more offshore companies by Pakistanis in Dubai," added the source.
According to the documents seized by the agency, Dr Tunio was running an offshore company in Dubai, registered at Al Razi Medical Complex, Dubai Healthcare City. However, Dr Tunio did not mention this offshore company in his income tax returns.
The source added that the case against Dr Tunio would most likely be registered under the Anti-Money Laundering Act, 2010 within a week, as the Inland Revenue has recently been given powers by the federal government to do so.
It should be noted that the raid was conducted under Section 175 of the Income Tax Ordinance, 2001.
"Further anomalies by his company are being investigated and the entire seized sales record of the clinic will not be returned to the evader. Dr Tunio also owns properties worth billions of rupees in posh areas of the city, including Defence and Clifton, and he came under scrutiny by the I&I-IR when he was recently found selling such properties in Clifton," said the source.
Dr Tunio was ready to cooperate with the tax authority by paying assessed amount of taxes. However, his relative, Ashfaq Tunio, who is a commissioner in the FBR, pressurised the FBR team and created hindrances in official work, said the source.
Sources said that Ashfaq Tunio would likely be nominated in the FIR for disturbing and pressurising the FBR team. It is pertinent to mention that Laser Inn, Aesthetic, is located near South City Hospital, Clifton, where Dr Tunio charges Rs 400,000 for a single hair transplant, while he has clients around the world.
Courtesy www.dailytimes.com.pk