The news is not as bad as Panama one, but it’s going to give unnecessary ammunition to the opponents
Imran Khan admits forming offshore company to ‘evade British taxes’ - Pakistan - DAWN.COM
Re: Imran's offshore company
Absolutely - already when the question has shifted from "Black Money" to Owning Properties Outside Pakistan to Owning Offshore Companies.
Re: Imran's offshore company
There is already a huge hue&cry on social and electronic media about it. But my question remains the same as day 1: How come making offshore companies at first place a crime? Most of the businesses do it. So unless there is a proof of money laundering I dont see a legal issue.
Even Trump has many companies listed in Panama leaks as the offshore and I'm yet to hear a single word in american media about it.
Re: Imran’s offshore company
The only reason IK would be laughed at because, he said, " only reason anyone have off-shore company is when they want to hide their illegal money and avoid taxes".
Now first off-shore companies of his financers and party members surfaced…and his own…no matter what justification he may have, as per his own statement they are tool for crimes only…this is going to bite him…
Re: Imran's offshore company
There is already a huge hue&cry on social and electronic media about it. But my question remains the same as day 1: How come making offshore companies at first place a crime? Most of the businesses do it. So unless there is a proof of money laundering I dont see a legal issue. Even Trump has many companies listed in Panama leaks as the offshore and I'm yet to hear a single word in american media about it.
That is not a crime at all! But our media made it look like crime... Our media is to be blamed, 90% of anchors have no idea what off-shore companies are, why business men have them...and how to investigate them..
IK and media lives on hype, yesterday it was Dhandli, day before it was drone attacks dharna and tomorrow it will be something else...they never do their homework and that is why they don't stand a chance when they have to counter any propaganda and that is why IK get egg on his face every time he tries to sell something of hype...
Re: Imran's offshore company
Imran admitted, per the news article, that he made the offshore company to avoid Britain taxes. That was probably not illegal, but unethical
Re: Imran's offshore company
The only reason IK would be laughed at because, he said, " only reason anyone have off-shore company is when they want to hide their illegal money and avoid taxes".
Now first off-shore companies of his financers and party members surfaced...and his own...no matter what the justifucation he have, as per his own statement they are tool for crimes only...this is going to bite him...
According to him , he was playing cricket in England and it was his cricket income
I am a perfect desi but you most here knew that income by English clubs is 100 % documented so you can not avoid tax on that .
It was his income as a playboy (male prostitute) which is never documented in male or female prostitution .
Re: Imran's offshore company
He'll be fine, in fact he'll come out stronger from this as he will be able to present all the paper trial of his UK flat, selling of that flat and transfer of money to Pakistan to purchase Bani Gala (or pay back Jemima) whereas NS has no paper trial to back as money was laundered from Pakistan.
IK can easily say that he avoided the UK Capital Gain Tax buy selling his property and putting it in off shore company. He avoided tax as he was not a British citizen.
Re: Imran's offshore company
Imran admitted, per the news article, that he made the offshore company to avoid Britain taxes. That was probably not illegal, but unethical
You mean, as per IK's own statement, he have lost Moral Ground???
Re: Imran's offshore company
More than anything I would question why did he hide it initially or why did his party lie at first place?
[QUOTE]
ISLAMABAD/HEATHROW: A day after his party denied that Imran Khan owned a London flat through an offshore company, the Pakistan Tehreek-I-Insaf (PTI) chairman himself admitted he formed an offshore company to buy the London flat in 1983 to evade British taxes.
Speaking to reporters at London Heathrow Airport, Imran said he formed the offshore firm on the advice of his accountant to evade taxes during his playing days to buy a flat in London.
"I was already paying 35 per cent tax on my income there, so to evade further taxes, I bought the flat through an offshore firm, which was my right as I was not a British citizen," Imran told the reporters.
[/QUOTE]
President Bill Clinton was impeached not becuz he had a affair with Monica Lewoinski but because he lied to the house.
Re: Imran's offshore company
Income from GB needs to taxed for everyone
Only a thug can avoid
Re: Imran's offshore company
According to him , he was playing cricket in England and it was his cricket income I am a perfect desi but you most here knew that income by English clubs is 100 % documented so you can not avoid tax on that .
Actually that came to my mind!!! That payments from Counties and crickets are documented hence tax evasion is somewhat task!!!
Either it is money from spot-fixing or advertising or modelling or playing for some IPL kind of league or some other activity.
but something which he didn't want to show...again iam talking as per his own statement about off-shore companies..
Re: Imran's offshore company
According to him , he was playing cricket in England and it was his cricket income I am a perfect desi but you most here knew that income by English clubs is 100 % documented so you can not avoid tax on that . It was his income as a playboy (male prostitute) which is never documented in male or female prostitution .
Yar please, kuch khuda ka khof karain. In 1983, he was playing cricket for Pakistan. He had money through that and international sponsorships. He wanted to buy a property in U.K., so to avoid paying taxes on that money, he formed a company and bought the property through that
Re: Imran's offshore company
According to him , he was playing cricket in England and it was his cricket income I am a perfect desi but you most here knew that income by English clubs is 100 % documented so you can not avoid tax on that ..
There was no way he could avoid income tax. But in UK we have something called **Capital Gains Tax **which is tax on the profit you get when you sell off your property (Imran had a flat) which has increased in value.
There are many ways to legally avoid Capital Gains Tax, we've all done it.
Re: Imran's offshore company
You mean, as per IK's own statement, he have lost Moral Ground???
Yes, maybe. In 1983
Re: Imran's offshore company
To non British members. Please don't try to burn off your brain cells by imagining tales of prostitution and spot fixing.
UK is a welfare state and has one the most complicated and comprehensive tax systems in the world. So income tax is not the only type of tax we pay here, what IK is talking about is Capital Gains Tax which is basically related to your property or disposable assets.
Income tax and various other tax are impossible to avoid here, but capital gains tax is something that can be legally avoided.
Re: Imran's offshore company
According to him , he was playing cricket in England and it was his cricket income I am a perfect desi but you most here knew that income by English clubs is 100 % documented so you can not avoid tax on that . *It was his income as a playboy (male prostitute) which is never documented in male or female prostitution *.
How do you know ? Can you provide substantial evidence to back your allegation?
Re: Imran's offshore company
AP has receipts from when he visited him....
/sarcasm
Ok ok mods, it was a remark in jest. :p
Re: Imran's offshore company
Imran Khan is jaddi pushti rich.. He is not nau-dolatya like Nawaz Sahrif.
Re: Imran's offshore company
Income from GB needs to taxed for everyone Only a thug can avoid
start with the biggest thug Zardari, the one you worship.