FBR unearths Rs9.41bn wealth fraud

Dawn reported that the Federal Board of Revenue has detected a scheme in which 85 taxpayers retrospectively amended old wealth statements to claim unexplained assets worth Rs9.41 billion. On Wednesday, the FBR announced a criminal case under the Anti-Money Laundering Act 2010, with more cases being processed.

Officers from the Directorate General of Intelligence and Investigation identified the case through analysis of the FBR database, with help from Pakistan Revenue Automation Ltd. From March 2025 through June 2026, 85 taxpayers amended wealth statements covering the 2014 to 2019 tax years and added cash, gold, prize bonds, property and business capital never previously declared. The Income Tax Ordinance 2001 bars changes to a wealth statement once five years have passed since the original filing deadline, as set out in section 116(3) and its explanation. All of the identified revisions were made well past that limit.

In one Lahore case, a taxpayer added Rs102.8 million in fictitious funds to his 2015 wealth statement in May 2026. He then rolled the sum forward through later statements and used it to justify seven properties valued at Rs64.41 million, purchased in May and June 2026. When questioned, he was unable to say where the money came from, and the tax evaded in that case alone is above Rs46 million. Regional offices have opened 48 criminal inquiries nationwide, and work on the other cases continues.