Five acquitted in money laundering case Dawn 22/12/2020 Dawn
A special tribunal (foreign exchange regulation) has acquitted five employees of a privately-owned currency exchange company charged by the Federal Investigation Agency with launching money and illegally possessing foreign currency notes.
Additional sessions judge Shahid Mahmood accepted an application of the five accused under Section 265-K of the Code of Criminal Procedure, which empowers the trial court to acquit an accused before the conclusion of a trial when there is no probability of his conviction on the basis of the available evidence.
The accused included Pakistan Currency Exchange branch manager Anwarul Haq, operation manger Sabihuddin, cashier Naseer Asghar, and employees Sohail Humayun and Sher Khan.
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December 23, 2020
ISLAMABAD: The Federal Board of Revenue (FBR) has been empowered through the proposed draft rules of asset declarations to initiate proceedings where an asset was not declared by the taxpayers up to tax year 2018.
The FBR will not initiate proceedings against the legally valid declarations of amnesty scheme of 2019 under the Foreign Exchange Regulation Act, 1947, Protection of Economic Reforms Act 1992 and Anti-Money Laundering Act, 2010 or any rules, notifications or orders made there under with respect to assets, income or expenditure declared under the Assets Declaration Act 2019.
The FBR has issued a draft of further amendments to the Assets Declaration (Procedure and Conditions) Rules, 2019 through a notification issued on Tuesday. As per the draft rules, no declaration shall be declared void unless definite information regarding misrepresentation or suppression of facts is available with the Commissioner Inland Revenue. The FBR has explained the
FBR Issues Further Draft Amendments in the Assets Declaration (Procedure and Conditions) Rules, 2019
The Federal Board of Revenue (FBR) will not initiate proceedings against the legally valid declarations of amnesty scheme of 2019 under the Foreign Exchange Regulation Act, 1947, Protection of Economic Reforms Act,1992, and the Anti-Money Laundering Act, 2010 or any rules, notifications or orders made thereunder with respect to assets, income or expenditure declared under the Assets Declaration Act 2019.
The Federal Board of Revenue (FBR) has belatedly issued rules for the declarants of the amnesty scheme of 2019. The availing date of which was June 30, 2019.
The FBR has issued a draft of certain further amendments in the Assets Declaration (Procedure and Conditions) Rules, 2019 through a notification issued here on Tuesday.
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