EXPOSING PMLN LIES ON THE ASSETS AND INCOME OF SHARIF FAMILY

Society Pakistan & World Affairs
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After getting fed up from the presentations of PML (N) leaders; from their deliberate evasive answers and lies, I have decided to write a detailed and researched article presenting them questions which should be answered by Sharif family before Pakistanis could accept their claims. In the event of them not responding and answering one thing is clear, they have no legs to stand on, their lies would be exposed.

Please read it with patience, it is long but without giving full details, justice cannot be done to the subject matter. it contains information on their UK Companies and assets, something regularly mentioned by PML (N) leadership.

Please spread the word, so to speak, more people knowing these facts better for Pakistan. I would work next on PPP lies. Pakistanis need to know the truth about the old guards and why they want status quo to continue in Pakistan. They are in it to win it, so they and their families can live like kings while poor Pakistanis die without basic necessities. This has to change, period.

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Re: EXPOSING PMLN LIES ON THE ASSETS AND INCOME OF SHARIF FAMILY

Capital Gain Tax?
Inheritance Tax 40%?

are you talking about Pakistan?

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Re: EXPOSING PMLN LIES ON THE ASSETS AND INCOME OF SHARIF FAMILY

Bhai ney lagta hai nai nai accounting parhi hai... emotional ho gai hain!!!

At least they have legitimate businesses in Pakistan and abroad... spend your time on sources of income for the chateau in France and Bhutto properties in UK without any substantial (legal) businesses either in Pakistan or abroad.

I could respond to you point by point but don't have as much time as you have. A couple of things though:

When a person transfers shares of a company to his relatives (as NS did), he does not have to pay any tax, CG or inheritance, at least till a few years ago.

Yes, a person is separate from the corporation he owns shares of. When the corporation has paid its taxes and distributes income (dividends), the owner of shares DO NOT have to pay taxes on such distribution again.

The rest of your analysis of UK companies is very immature, to say the least.

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Re: EXPOSING PMLN LIES ON THE ASSETS AND INCOME OF SHARIF FAMILY

^^ Immature and contradictory as well !!!

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Re: EXPOSING PMLN LIES ON THE ASSETS AND INCOME OF SHARIF FAMILY

Koi mujhe bhi Debit Credit samjhae. :confused:

BTW, without going into research document posted by OP, has he accounted for any Double Tax Treaty impact while analyzing Tax Evasion by Sharif family?

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Re: EXPOSING PMLN LIES ON THE ASSETS AND INCOME OF SHARIF FAMILY

^^ Nah

I don't know if he is going to come back to discuss

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Re: EXPOSING PMLN LIES ON THE ASSETS AND INCOME OF SHARIF FAMILY

Nai nai nahi, kafi purani parhi he , before your birth possibly.

If they have legitimate businesses, why they cannot show us the Incomes from those businesses?

Why are they including Excise duty, sales tax and utilities bills in the figures of taxes paid by them?

Duties and bills form cost of production not taxes, while sales tax is collected on behalf of the state. In both cases it is paid by the end user. Sales tax directly and duties and utilities bills in the cost of goods. Where do the taxes of Sharif family comes in to it?

Why cannot they show us the profits earned by their businesses and how much they earned themselves for each year, and how these incomes can take care of their expenses.
I bet, they would never, because they are cheats, I can bet my bottom dollar.

By the way, I have sent e-mails to many people with the short cut, including Ahsan Iqbal in his official capacity and also Shahbaz Sharif. I am trying to find the email address of Nawaz Sharif, if you have it share with me, I will send him an email too.

Don't you worry, I got lot more info, which I have not included in the article.

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Re: EXPOSING PMLN LIES ON THE ASSETS AND INCOME OF SHARIF FAMILY

^^^

If you have such info.. you have to improve presentation. Presently this looks like a mumbo jumbo of figures.

I advise you to get some professional help to make your report presentable.. and actually find something sensational. At the moment all this information shows nothing illegal. Obviously when Hussain Nawaz started business in UK he must have declared the source of his seed capital otherwise could have faced severe money laundering charges in UK. All these companies must be registered and must be filing tax returns in UK on regular basis. To prove something wrong with these accounts you have to do better than this...

I am not a Nawaz Sharif fan.. but it's just a sincere advice.

P.S. Nawaz Sharif/Shabaz Sharif or their family members are not obliged to declare Hussain Nawaz's UK business assets if they are not legal partners in his business. So the question of mis declaration does not arise unless you can prove the stake of these people in UK business entities..

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Re: EXPOSING PMLN LIES ON THE ASSETS AND INCOME OF SHARIF FAMILY

.

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Re: EXPOSING PMLN LIES ON THE ASSETS AND INCOME OF SHARIF FAMILY

Well, I can only count the double taxation if the relief is obtained by Sharif family. if they have not, how that can be counted? Onus is on them to show it.
Beside the relief, the fact you forget to highlight is that all the companies put together in the UK in last 10 years have not shown movement more than few millions pounds.
That is like a million a year, all of which wouldn’t be their income. The fact remains this income is no way near to even pay for the airfares of the family, let alone everything else.
Secondly, I can bet, they are declaring minimum or no profit in the case of many UK companies.
How much tax you think they would have paid on small companies, for them to show and claim double tax relief?

And not to mention, their leaders have categorically said they have transferred 65 crores in last 6 months. But neither can they provide any details or provide the means and proofs of the money transfer. When Sadiq Al Farooq was challenged very recently by Imran Tahir to produce proof of even $100 transfer to Pakistan by this family, Sadiq al Farooq went quite. Only weeks earlier he was boosting that 65 Crores were transferred by Sharif Family to Pakistan.

Don’t worry I have all the proofs needed, this article is based on hard facts.

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Re: EXPOSING PMLN LIES ON THE ASSETS AND INCOME OF SHARIF FAMILY

^^^

65 crore rupees sent through legal channels from legitimate accounts from UK is not much of a sensational news.. try harder buddy..!!!

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Re: EXPOSING PMLN LIES ON THE ASSETS AND INCOME OF SHARIF FAMILY

Well, it is an article, including historical info and political comments, it is presented as such. Not as a business dossier. if I need to present a business plan or historical diagram, I can, but that is not the requirement or need. I have never written anything on the UK companies, but highlighted the fact, as small companies account they don't shed any light on their income and taxes paid. Secondly the turnover is noway near to met the claims of Sharif family.

The point is PMLN leaders claim, NS expenses are meet by his sons. I want them to show us how on such meagre Incomes NS can live like kings?
Simple point my friend.

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Re: EXPOSING PMLN LIES ON THE ASSETS AND INCOME OF SHARIF FAMILY

Where are the proofs? They were challenged, but didn't come up with the evidence. They should try harder. ;)

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Re: EXPOSING PMLN LIES ON THE ASSETS AND INCOME OF SHARIF FAMILY

^ Regarding the UK companies, you claim:

"It does not provide any indications of companies’ profitability either and how much CT or any other taxes paid by different companies."

how do you know their incomes are 'meagre'?

(please keep in mind that balance sheets of service oriented companies are always small with little movement, regardless of income)

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[QUOTE]
I am trying to find the email address of Nawaz Sharif, if you have it share with me, I will send him an email too.
[/QUOTE]

[email protected]

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^^^

Your OP comment said sharif family is misleading the nation and they are lying. At best you have proven that Siddiq Farooq was lying. The article you have posted starts with some confusing description/lecture of accounting terminologies.. and if I am an accounting student trying to prepare a paper for my exam, I would never read this article for any reference in my paper due to the obvious faults in the description.. and immaturity shown towards the facts.

If you want to prove something wrong as you mentioned in your OP.. you have to come up with something better than this article. This article does not prove anything..

I am not saying definitely Sharif family is a family of saints. General perception about them is that they have accumulated huge wealth misusing the power they had. It may be true.. but this article does not prove anything in that direction..

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Don't worry.. when you file your tax return in Pakistan/UK (If the transactions are not benami).. you have to give proof.. Otherwise you end up behind the bars. Interpol will nab you in hours on money laundering charges..

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Re: EXPOSING PMLN LIES ON THE ASSETS AND INCOME OF SHARIF FAMILY

You missed the word "Possibly".

[QUOTE]
You can easily go to SECP and ask for copies of financial statements of all Sharif Family companies and find out the income.
[/QUOTE]

Don't you worry about me, I have done my homework. You should compel them to have the bottle and be straight with Pakistani nation.

[QUOTE]
*Yes, they should not do add sales tax to the tax paid by them, except when you pay that on your inputs and cannot recover it from FBR then it is sort of a tax paid by you. Excise duty is also sort of a tax paid to the government and the rate varies with the sector you are in. There is INCOME TAX deducted at source added your utility bills. Possibly they are adding that one to the income tax paid. If it is the full amount of bills paid, then its a lie. *
[/QUOTE]

Any proofs the inputs were not recovered?

Scondly, they have included Excise duties and other duties, which as I have explained form the cost of production. Considering it related to their mills , they must have been included in the cost of goods, and the goods sold with added margins and sales tax on top. You tell me how it could be possible not to recover the input in that case? Inputs generally are not recovered for industry and products which cannot charge the same tax on the outputs, which they pay on inputs.
For example in the UK companies who produce VAT exempted items, may pay input VAT on goods and services, but cannot charge it on outputs.
But your argument is not correct in any case, if there more VAT (as example) is paid compare to what is charged on output, Inland Revenue refund the excess. Under no circumstances it counts towards the taxes paid by the companies or individuals. The businesses collect it on behalf of the State. They either pay the difference between the amount paid on inputs and amount charged to their clients on the outputs, or claim the difference back as refund.

[QUOTE]
*Yes, a lot of income would be hidden from the government and tax authorities. PTI should go to FBR against such tax evasion. *
[/QUOTE]

I am not PTI member, nor I am doing it on their behalf. I am doing it for Pakistani nation after getting fed up from lies of PMLN leaders. They came on the TV talk shows and fool innocent and uneducated Pakistani people using deliberate lies and deceptions. You and I both know they are lying out of their teeth.

[QUOTE]
*I am not sure if NS is able to create an email account and operate it. *
[/QUOTE]

Ha Ha, so you are making my point, the idiot belongs to the past, he should be thrown in the dustbin of history. His answer to all the ills of Pakistan is glorious “Yellow CAB” scheme.

[QUOTE]
Bhai share karain na.... don't hide it like Sharif Family.
[/QUOTE]

Jab unka Jawab ayega tu share kareenge na, You don’t want me to use all my ammunition do you? There is lot more in store, In the article I have given only one year of their Income and taxes paid, to show the mirror. This is enough to expose the lies of Sharif family they were rich from 1930s.

And the ridiculous claims by Salman Sharif, they would be rubbing shoulders with the likes of TATAs, if nationalisation didn't happened. Look at Mittals’ investment in the UK and look at the accounts of Hassan’s companies. I don’t need to add anything further.

Our TV presenters are useless ,uneducated crooks who let these thieves from different parties to use the air time for their lies and deceptions.

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Re: EXPOSING PMLN LIES ON THE ASSETS AND INCOME OF SHARIF FAMILY

If they have not paid enough tax in the UK, never transferred the money using legitimate means, never declared it in Pakistan. How the question of double taxation and relief on double taxation arises?

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^^^

Look bhai.. this is not a PTI propaganda site.

Moreover the maturity of posters here in this forum is much higher.. mostly we have highly educated participants in this forum. when someone makes tall claims.. it's normal people ask for credible proof. Normally this type of information based on someone's blog.. and then making sweeping statements about someone's integrity are never allowed to be discussed here.

I have allowed this discussion to continue because it shows exactly what we should not be doing. You can see not a single poster is impressed with your way of making this kind of sensationalism.

Just merely saying that you have proof of what you are claiming, but you just want to hide it for the time being is not enough. Either you come up with something concrete or moderators will be forced to close this thread..