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    Imran's offshore company

    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
    People are afraid of what they don't understand

    #2
    Re: Imran's offshore company

    Absolutely - already when the question has shifted from "Black Money" to Owning Properties Outside Pakistan to Owning Offshore Companies.

    Comment


      #3
      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.
      Attitude is more important than facts.
      "Life is 10% what happens to us..and 90% of how we react to it"

      Comment


        #4
        Re: Imran's offshore company

        Originally posted by TLK View Post
        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
        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...
        For Religion, we'll fight, kill & die but will never follow it, where's the fun in that!

        Comment


          #5
          Re: Imran's offshore company

          Originally posted by SID_NY View Post
          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...
          For Religion, we'll fight, kill & die but will never follow it, where's the fun in that!

          Comment


            #6
            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
            People are afraid of what they don't understand

            Comment


              #7
              Re: Imran's offshore company

              Originally posted by hanibal View Post
              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 .

              Comment


                #8
                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.

                Comment


                  #9
                  Re: Imran's offshore company

                  Originally posted by TLK View Post
                  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???
                  For Religion, we'll fight, kill & die but will never follow it, where's the fun in that!

                  Comment


                    #10
                    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?

                    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.
                    President Bill Clinton was impeached not becuz he had a affair with Monica Lewoinski but because he lied to the house.
                    Attitude is more important than facts.
                    "Life is 10% what happens to us..and 90% of how we react to it"

                    Comment


                      #11
                      Re: Imran's offshore company

                      Income from GB needs to taxed for everyone
                      Only a thug can avoid

                      Comment


                        #12
                        Re: Imran's offshore company

                        Originally posted by Anwer Pasha View Post
                        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..
                        For Religion, we'll fight, kill & die but will never follow it, where's the fun in that!

                        Comment


                          #13
                          Re: Imran's offshore company

                          Originally posted by Anwer Pasha View Post
                          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
                          People are afraid of what they don't understand

                          Comment


                            #14
                            Re: Imran's offshore company

                            Originally posted by Anwer Pasha View Post
                            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.

                            Comment


                              #15
                              Re: Imran's offshore company

                              Originally posted by hanibal View Post
                              You mean, as per IK's own statement, he have lost Moral Ground???
                              Yes, maybe. In 1983
                              People are afraid of what they don't understand

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