Imran Khan formed offshore company to ‘evade British taxes’

Islamabad, May 14 (IANS) A day after Pakistan Tehreek-e-Insaf party denied Imran Khan owned a flat in London through an offshore company, the party chief admitted that he formed an offshore company to buy the flat in 1983 to evade British taxes.

Khan on Friday said he formed the firm on the advice of his accountant to evade taxes during his playing days to buy a flat in London, Dawn online reported.

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“I was already paying 35 percent 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,” Khan said.

A PTI spokesperson said Khan had formed a “legal” offshore company, which owned his London flat.

While speaking to Geo News, PTI spokesman Naeemul Haq took back his earlier denial.

“I was Imran Khan’s bank manager in London at that time, his accountants formed this company to buy the flat.” When the flat was sold, Imran brought the money to Pakistan, Haq said.

Answering a question about Imran Khan’s tax returns and this offshore firm, Haq said he will “reveal the details to the media on Saturday”.

Meanwhile, Defence Minister Khawaja Asif criticised Khan for repeatedly denying the possession of any offshore firm.

Moreover, Prime Minister Nawaz Sharif’s daughter Maryam Nawaz, through her official Twitter account, termed Imran Khan the “pioneer” of offshore companies.

Khan had criticised Sharif and his family for owning and benefiting from offshore companies after the release of Panama papers.

He, along with other opposition leaders, demanded Sharif’s resignation until the issue was investigated and the premier gets a clean chit.

Just two days ago, he told a public rally that the Panama Papers exposed how “corrupt” Pakistani prime minister was.

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