FBR Wins Rs. 6.2 Billion Case Against Panama Listed Family

The Federal Board of Revenue (FBR) has managed to recover Rs. 6.2 billion from a family that are part of a major business group in the country. This is the highest ever tax liability recovered by the FBR.

Biggest Ever Recovery

FBR’s Directorate General Intelligence & Investigation (I&I) Inland Revenues (IR) recovered this amount from a couple, Bashir Dawood and Maryam Dawood of the Dawlance Group, under the Anti-Money Laundering Act 2010.

The Inland Revenue Intelligence recovered this amount after the Special Court Customs & Taxation Karachi heard the trial against the Dawood family over tax evasion, tax fraud and money laundering.

No government agency has ever recovered such a huge amount in any case where individuals are involved in a financial crime like corruption, laundering, smuggling, etc.

Director General, Khawaja Tanveer Ahmed, termed this as a landmark victory in the history of FBR and admired the efforts of I&I-IR team.

Mentioned in Panama Papers

It also needs to be mentioned that the name of Dawood family was also listed in the Panama Leaks. In the reference case of sale of Dawlance Group to Turkish industrial group, an offshore shell company in the British Virgin Islands was used by the accused to launder the money.

About the Case

On 26 May 2017, the Directorate of Karachi received cheques worth Rs. 6.2 billion.

Bashir Dawood and Mariyam Dawood were major shareholders in three companies including M/s United Refrigeration (Pvt) Ltd, M/s Dawlance (Pvt) Ltd and M/s Dawlance Electronics (Pvt) Ltd till 2013. They sold M/s Dawlance Electronics (Pvt) to BVI Company (M/s Pan Asia Equity (Pvt) Ltd) for $3.3 million and dividends of $35 million were remitted to BVI by 2016.

The three companies were later acquired by a Turkish company for $242 million. M/s Dawlance Electronics (Pvt) Ltd, which was sold at $3.3 million in 2013 was actually sold at $94 million.

The authorities traced suspicious transactions worth Rs19.72 billion in five bank accounts of Bashir Dawood and Mariyum Dawood. Once everything was linked together, the case was put in front of Court of Special Judge Customs, Taxation Karachi. The court decided in favour of FBR and the alleged were arrested. The Special Public Prosecutor asked them to deposit a sum of Rs. 6,204,374,789 to get acquitted from this case. The couple deposited the amount via four cheques.

The department then launched an application to withdraw its complaint while the accused signed a memorandum that they would not challenge the tax payment in any court of law. Once the government exchequer receives the amount, the accused will be entitled to operate their accounts as normal. Unfortunately, this also means that the government will not punish the accused.

Via The News

He is the Editor-in-Chief at ProPakistani. Reach out at aadil.s[at]propakistani.pk

  • Agar nawaz shareef famuly aur zardari par bhi isi tarha haat dale to kam az kam 62 million dollar recover ho ge aur wo is mulk ki sub se bari recovery ho gi.lekin afsoos aisa kuch bhi nahi hoga is mulk nein sirf un par haat chalta hai jinke haat lambe nahi, agar dawood group walo ne kisi siyasi Party se dosti rakhi hoti to aaj itni bari amount unke haat se na jati.

    • Dosti to Dawood Group ki bhi bohat ‘andar’ tak hogi lekn phas gae thay bohat bura aur political sh*ts khud phasay hoe hain aisay hi cases main to bacha nhi pae hounge woh inko.

      Aur bhai 62 million dollar nahi 62 billion dollar araam se nikal aaega donoun k paas se.

  • So, even after being proven guilty of money laundering, tax evasion etc. You are entitled to live in this country like anyone else if you just pay them enough to shut their mouths up.

    • You can do the same even in U.S.A or infact any country in the world. Pay a fine and live freely. Only those who are unable to pay the fine are jailed. It is a tax crime not a murder, why would you throw someone in jail net to rapists and murderers when his only crime was tax evasion

      • Lol. Mr. Uncommon Sense, seems like you have NO knowledge whatsoever of the world. My Father runs a business empire worth $40 million. I’ve been to the UK, US and several EU countries, and tax crimes & money laundering are considered BIGGER crimes than rape and murder. If someone commits a crime by evading tax and laundering money, no matter if they later agree to pay the amount PLUS THE EXTRA SURCHARGE, they STILL HAVE TO go to jail, and I’ve seen this time and time again. One of my father’s business associates even went to Jail in Australia even though he was a single parent to a 4 year old daughter (which our family had to care/or she would’ve gone to foster home) AS HE COMMITTED TAX FRAUD.

        • brother you cannot impose tax penalties of that degree in Pakistan overnight. If that happens, almost 90% of the filer taxpayers would be rotting in jail.

          I agree with you though, tax fraud is a bigger crime in USA etc.

          • Apnay to wahi bat kar
            “Agar Sadiq aur Ameen wala rule apply hua to assembly me koi nahi bachy ga”.

            Bhai ye achi bat hai k koi corrupt na bachy chahy Nawaz ho ya Imran ya General.

            • Nawaz and Imran ki baat to samajh mein aati hai. General ko kon pakray ga…. aakhir wo apni hi court mein jaaey ga (military) aor mazay karay ga.

          • Har maangne waala kehta hai, ALLAH apko bohat de ga sahab, main unhain kehta hoon, Aap maangna chor do bhai, ALLAH apko bhi bohat de, main bhi sirf apko yeh dua hi de saskta hoon.

            Apko bhi yahi dua doonga ke ALLAH aapka IQ room temperature se zyada kar de.

            • Aur Alhamdulilah mangtay hum ALLAH (SWT) say hi hain aur yeh number ka is liye likha tha k apnay ABU ki daulat ka zikar jis andaz say aap nay kiya hai woh bhai aap ko aur khuda-na-khuasta kisi aisay shaks nay yeh message parh lia jo aap ko nuqsan puhanchana chahta ho tau phir aap ki daulat us ko bhi mubarak ho gi… is liye zara ahteyat bartain; aur yeh taanon k teer chalanay say pehlay koi chotay baray ka lehaz kar lia karen ya aap ki MASHALLAH AUR SUBHANALLAH wali 40Mil $ ki daulat yeh karnay say bhi rokti hai.

              Obviously you dont care because you are AMEER baap ka bacha

            • as the chief justice quote Mario Puzo ” Behind every great fortune theres a crime”. So, son its better that you take your ABU’s 40Million $ empire and keep it to yourself. No need to even mention it to make a point. This information can be used against you thats all my lesson was; but your thick skull obviously could not comprehend what i was trying to tell. Thats all i am going to say. After visiting so many countries your vision is still narrow and shallow.

              • A person like you would want to just grab someone’s hard earned money, as you’re raised that way. I, on the other hand own a software designing firm and am self made and trying my level best to reach my way up, myself, without the help of others, or without taking and enjoying on my father’s money.

                If the money was haraam or stolen, I would care about that information being used against me, but neither that amount is under my control, nor I would be in charge unless I prove my worth by having my own name.

                My dear child, you have no idea what I am, and how open minded I am. I can actually see pretty clearly that you yourself have such a thick skull that you have somehow think you know someone just by a few of their comments, LOL. Grow up and have a wide vision yourself.

                  • Aap ke “Ha Ha Ha” ne bata diya apka mental caliber, aur apke aftari walay comment ne bata diya ke aap sirf zinda hi khanay ke liye ho xD. Har koi aap jaisa bhooka nahin hota lol

    • They are much more useful outside of a Cell rather being inside a cell; they did make billions of ruppees in form of taxes. So, just imagine how much contribution they would be making for the business.

  • A note to FBR and NAB, before the world ends or you die, kindly go and retrieve the Gazillions from the looters of this country that you have let go, otherwise you have a dark grave and an even darker afterlife.

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