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Maintaining offshore firms a legal option: Hussain Nawaz

ISLAMABAD: Hussain Nawaz, son of Prime Minister Nawaz Sharif said that maintaining offshore companies was a legal option available in various countries to avoid paying unnecessary taxes and that there was no need to conceal his assets abroad. Talking to a private television channel, he said there was nothing bad in owning the offshore company....

SAMAA | - Posted: Apr 5, 2016 | Last Updated: 5 years ago
SAMAA |
Posted: Apr 5, 2016 | Last Updated: 5 years ago
Maintaining offshore firms a legal option: Hussain Nawaz

Hussain Nawaz Still 04-04

ISLAMABAD: Hussain Nawaz, son of Prime Minister Nawaz Sharif said that maintaining offshore companies was a legal option available in various countries to avoid paying unnecessary taxes and that there was no need to conceal his assets abroad.

Talking to a private television channel, he said there was nothing bad in owning the offshore company. “I never concealed my property abroad,” he added.

He clarified that Panama leaks and The International Consortium of Investigative Journalists (ICIJ) have made no allegations of wrongdoing against Sharif family and Prime Minister Nawaz Sharif owned none of the corporations mentioned in the leaks.

Hussain said he had left Pakistan in 1992, and being a non-resident, he was not liable to declare his assets, as per the country’s laws.

Regarding Imran Khan’s call for investigations into the issue, he offered himself for any probe asking PTI leader to provide evidences to substantiate the charges he made against the Sharif family.

To a question, he said Maryam Nawaz Sharif was merely a trustee in one of the corporations owned by him which would only entitle her to distribute the assets to his family, if required. –APP

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