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Govt signs MoU with Swiss authorities to ‘bring back looted money’

ISLAMABAD: The federal government on Friday signed a memorandum of understanding (MoU) with Swiss authorities to obtain information about assets and bank accounts owned by Pakistanis in Switzerland. Special Assistant to the Prime Minister on Accountability Shahzad Akbar inked the MoU with the Swiss officials. The Pakistan Tehreek-e-Insaf (PTI) on its official tweeter handle said: “A step ahead in bringing back looted wealth; Pakistan and Swiss governments have signed an MOU enabling exchange of financial information on…

Apex court forms JIT to probe fake bank accounts case

ISLAMABAD: The Supreme Court has constituted a six-member joint investigation team (JIT) to investigate the fake bank accounts case.  "We constitute the following JIT for the purpose of conducting a thorough investigation into the matter of fake bank accounts subject matter of these proceedings to get to the truth, uncover the persons involved and collect all material evidence for the purpose of ensuring that in case an offence is made," reads the top court order in this regard. A bench of the apex court, headed by…

Zardari has nothing to do with transaction in Zardari Group’s bank account: Khosa

KARACHI: Pakistan Peoples Party (PPP) leader Sardar Latif Khosa has said former president Asif Zardari had nothing to do with millions of rupee transaction in Zardari Group's bank account. "Zardari has nothing to do with any transaction in Zardari Group accounts as he had resigned from his post in 2008, following being elected as president as per the constitutional requirement," he said while talking to ARY News program PowerPlay.  He refuted media reports that Zardari was grilled by the Federal Investigation…

Bank accounts of non-filers not frozen, says FBR

ISLAMABAD: The Federal Bureau of Revenue (FBR) on Monday clarified that it had not issued any instructions about freezing of bank accounts held by non-filers of income tax returns. To allay the misconception stirred by a segment of print media, the FBR clarified that Income Tax Law did not restrict banking transactions from bank accounts held by any person whether filer or non-filer. This should be noted that the last government had proposed in the budget that the non-filers will not be able to buy property and…

FIA declares Zardari, Faryal Talpur as absconders

ISLAMABAD: Federal Investigation Agency (FIA) has declared Pakistan Peoples Party (PPP) chairman Asif Ali Zardari and his sister Faryal Talpur as absconders in the fake bank accounts case and money laundering worth billions of rupees. The interim application in the case submitted at the city court in Karachi has declared both Zardari and Faryal Talpur as absconders. Both have been placed on the 19th and 20th position on the list of individuals nominated in the case submitted to Sessions Judge South. The list has names…

LHC issues stay order against FBR for freezing Rahat Fateh’s bank accounts

LAHORE: Lahore High Court (LHC) on Wednesday issued a stay order against the Federal Board of Revenue for freezing the banks accounts and transactions of renowned singer Rahat Fateh Ali Khan. Justice Shahid Jamil heard the case where the singer's counsel informed the court that the FBR had acted illegal to seize the accounts of Rahat Fateh over non-payment of income tax and alleged tax evasion. The counsel said that Rahat Fateh was a law-abiding citizen and had duly paid his taxes, despite the tax authorities accused…

SC orders authorities to block CNICs, freeze bank accounts of absconders

ISLAMABAD: Hearing the Sindh government’s appeal challenging a drug court order to release an accused on bail, the Supreme Court (SC) ordered Federal Interior Ministry, National Database and Registration Authority (NADRA), and Home Ministry Sindh to block CNICs and freeze bank accounts of all absconders wanted in different cases. The provincial government’s appeal against acquittal of an absconder yielded an unanticipated orders against all absconders on Tuesday when three-member bench of the top court’s Karachi registry,…

Imran insists on eradication of corruption for ‘system of justice’

SIALKOT: Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan on Sunday said those countries become prosperous which root out corruption, bring a system of justice and strengthen their state institutions, ARY News reported. Responding to a recent statement of Prime Minister Nawaz Sharif, he said without eradicating corruption, development takes place only in rulers’ bank accounts. Nawaz had said that there were so many scandals of corruption in Pakistan, and if they were dealt with, one would lose focus on anything else.…

Ronaldo declared 20 million euros in Swiss banks

MADRID: Cristiano Ronaldo declared income of over 225 million euros in 2015, including 20 million euros held in 22 Swiss bank accounts, a Spanish newspaper reported on Sunday as the Real Madrid star battles accusations of tax evasion. The Portuguese international earned 203.7 million euros outside of Spain and 23.5 million inside the country, according to a copy of his 2015 tax return obtained by daily newspaper El Mundo. The figures match the details of the player's income published Thursday by the player's management…