Imran admits having offshore company in cricketing days

Islamabad/Heathrow—Pakistan Tehreek-i-Insaf (PTI) Chairman Imran Khan on Friday admitted that he formed an offshore company in 1983 to evade taxes during his playing years in London.
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,” Khan told the reporters.
Meanwhile, PTI spokesperson Naeemul Haq also admitted that his party chief had formed a ‘legal’ offshore company through his earnings from cricket.
Speaking on TV programme Haq said that when Imran Khan was playing cricket in England and Australia he formed an offshore firm following all legal formalities to buy a flat in London.
“I was Imran Khan’s bank manager in London at that time, his accountants formed this company to buy the London flat,” said the PTI spokesman.
He added that when the flat was sold, Imran brought the money to Pakistan through Habib Bank.
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 after talking to Imran Khan’s accountant”. In newspaper interview a day before, Haq was quoted as denying Imran Khan’s ownership of an offshore company.
In the report, he had maintained that Imran himself owned the London flat. The report published in the paper stated that a ‘Benami’ offshore firm ‘Niazi Services Limited’ owned Imran Khan’s flat in South Kensington, London.—Agencies

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