Imran admits forming offshore company

WEB DESK: A day after his party denied that Imran Khan owned a London flat through an offshore company, the Pakistan Tehreek-e-Insaf (PTI) chairman himself admitted he formed an offshore company to buy a flat in London in 1983 to avoid British taxes, according to a private TV channel.

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 reporters.

Maryam Nawaz also took a jibe at Imran Khan on twitter after the PTI chief admitted of owning an offshore company.

Meanwhile, PTI spokesperson Naeemul Haq also admitted that his party chief had formed a ‘legal’ offshore company through his earnings from cricket, which owned his London flat. While speaking to a private TV, 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 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 media on Saturday after talking to Imran Khan’s accountant”. – Business Recorder