The appellant in his request has questioned the FBR authorities, whether the income tax recovery process has been initiated against Malik Riaz Hussain for the disclosed sum of £190 million of undeclared wealth in the United Kingdom, if not than how and when FBR plans to recover the same. The request is devised from the clipping of newspaper ‘DAWN’ dated December 03, 2019 which unveiled that Assets Recovery Unit confirmed that as a result of investigation by the National Crime Agency of the United Kingdom Malik Riaz Hussain has agreed to a settlement of amount worth £190 million. The clipping also linked it to the statement released from the office of Special Assistant to the Prime Minister on accountability Mr. Shahzad Akbar that Britain had agreed to an immediate repatriation of the funds received after settlement and hailed it as a success story of close cooperation between the United Kingdom and Pakistan law enforcement agencies and efforts made by Justice and Accountability partnership created between the two countries.
This Commission allowed the Appeal and directed the Secretary (DT-FATE) / Designated Officer, Federal Board of Revenue is directed to provide the appellant information as to whether the income tax recovery process has been initiated against Malik Riaz Hussain for the disclosed sum of £190 million of undeclared wealth in the United Kingdom, if not than how and when FBR plans to recover the same.