Lekin 4th December 2011 - Sulman Shehbaz & Imran Ismail - Captain's Challenge to the Opposition
- Thread starter Lekin
- Start date
Re: How shrifs took money abroad simply Put in big bags to Saudia than transfer to uk via bank
The properties in UK and registered companies started before Sharif family went in Exile to Saudi Arabia. The bags may not have been checked when they landed in Saudi Arabia, but the bags went out of Pakistan after customs/FIA clearance and the ASF scruitiny. Another childish argument.
The properties in UK and registered companies started before Sharif family went in Exile to Saudi Arabia. The bags may not have been checked when they landed in Saudi Arabia, but the bags went out of Pakistan after customs/FIA clearance and the ASF scruitiny. Another childish argument.
Agreed a leader in third world country can change local laws to benefit his industry in home country, he can facilitate the transfer of MONEY to UK, BUT I am repeating it again YOU CAN launder money to consume it. BUT If you launder money to USE it in Business the day you start investing into properties, buying Machinery for your business, opening bank accounts, you WILL get CAUGHT. OPENING UP a Company in UK is not easy. It comes under strict rules and regulations of UK Company's Act 2006 and Company's Act 1985.
There are external auditors, internal auditors, Tax authorities and Securities and Exchange commissions to strictly regulate the affairs of Companies. Sharif family can carry cash to UK and consume it in parties, making cash purchases, eating expensive food, live a luxurous life on CASH but when they start buying property out of laundered money to start REGISTERING COMPANIES THEY WILL GET CAUGHT. Its common sense.
Much of billions of dollars in Swiss banks are accumulation of profits of various companies operating all over the world. Most of these moneys include, profits earned, kick backs, speed moneys long term deposits and investments of various companies etc. Like Zardari's 60million dollars in swiss banks are not looted money from Pakistan, they were kick backs (rishwat) paid by an international company GST Cotecna to Zardaris & Benazirs Company I guess Petroline International.
Further billions of dollars as of today have accumulated because of compounding of interest on money. If you desposit 10,000 dollar in 1960 it would become millions of dollars as of today. A large amount of money also belongs to pre partitian era and much of the money of Pakistani people in Swiss banks have multiplied because of compounding of interest. If there is 97billion dollars in Swiss banks then it doesnot mean that 97billion dollars were deposited in the bank, the actual cash that was moved into banks could hardly have been less than 1/5th of it but over 40,50,60 years it multiplied because of the interest rates.
There are external auditors, internal auditors, Tax authorities and Securities and Exchange commissions to strictly regulate the affairs of Companies. Sharif family can carry cash to UK and consume it in parties, making cash purchases, eating expensive food, live a luxurous life on CASH but when they start buying property out of laundered money to start REGISTERING COMPANIES THEY WILL GET CAUGHT. Its common sense.
Much of billions of dollars in Swiss banks are accumulation of profits of various companies operating all over the world. Most of these moneys include, profits earned, kick backs, speed moneys long term deposits and investments of various companies etc. Like Zardari's 60million dollars in swiss banks are not looted money from Pakistan, they were kick backs (rishwat) paid by an international company GST Cotecna to Zardaris & Benazirs Company I guess Petroline International.
Further billions of dollars as of today have accumulated because of compounding of interest on money. If you desposit 10,000 dollar in 1960 it would become millions of dollars as of today. A large amount of money also belongs to pre partitian era and much of the money of Pakistani people in Swiss banks have multiplied because of compounding of interest. If there is 97billion dollars in Swiss banks then it doesnot mean that 97billion dollars were deposited in the bank, the actual cash that was moved into banks could hardly have been less than 1/5th of it but over 40,50,60 years it multiplied because of the interest rates.
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umair ahmed
MPA (400+ posts)
4 times the question was asked that how did the money was transferred in UK and KSA but SHAHBAZ junior never replied . . . . .
plz see this BBC report http://www.facebook.com/War.Against.Status.Quo
Afsos hota hai ke tumhare pass itna time hai yeh sub likh sako leken itna time nai ke apney in corrupt aur criminal leaders sey pooch sako ke agar inkey pass 2+ Billion ka empire hai tau inka last 15 Years ka tax return kitna hai, apney in leaders sey pooch sakte ho ke yeh apney 15 saal ke Equity and dividend ko declare karey aur iss dividend per kitna income tax diya yeh apni nation ke samney declare karey, agar apni qom aur apney saath honest ho tau jaoo apney leader sey poocho yeh. dukh hota hai hamari parhi likhi kom bhi bewaqoof ban jati hai apney leaders (Corrupt leaders) ke pyaar mai.
pakistanstube
Minister (2k+ posts)
Agencies Ist made ML (N) then MQM and now PTI. If they pay little attention on security of Pakistan it will be great country
Mjay yeh sab likhnay mein itna time nahen lagta kiun ke yeh mera profession hai !
Income Tax is always paid on the Income you earn. The accounting concept of business is that a BUSINESS/COMPANY is a SEPARATE LEGAL ENTITY. A business is like a human being, It pays its taxes on its own incomes, while the Owners pay the tax on the income they draw from the business. The problem with people like you is that you simply dont know anything and keep firing in the air.
A business is never of 2billion unless it has equivalent liabilities which have arisen to raise the business. ALL ASSETS ARE BALANCED BY LIABILITIES. If I own a house which I have build after taking the loan from a bank, the house may be mine but the SUBSTANCE OVER FORM concept of accounting means that the real owner of the house is the bank which has financed the construction of the house.
If a business has assets in form of debtors, land, building, plant&machinery of worth 2billion then these are the assets in the name of the BUSINESS not in the name of the owner (Separate legal entity concept). Business has taken LOANS and created liabilities to build this which are shown in the liability side of any business BALANCE Sheet.
INCOME TAX IS PAID ON THE INCOME GENERATED, An owner will pay INCOME TAX ON the Salary he takes home, NOT PAY TAX on the whole company. If a Company earns 50 cror profit before tax it will PAY 35% corporate TAX on its own income. THIS INCOME TAX (Company TAX) WILL not be shown in the tax return of the owner say Nawaz Sharif because as per the accounting concept BUSINESS IS A SEPARATE LEGAL ENTITY. Nawaz Sharif will pay tax over the SALARY like 10lakh per month which he is taking home from the COMPANY AS DIRECTOR.
Secondly Equity is never taxable because EQUITY is created as a result of POST TAX profits. In a single year if a company earns 100cror profit, and for example it paid 35cror tax @35% corporate tax the remaining 65cror will be profits after tax. Tax has already been PAID on Equitable profits by the Company @35% so no more tax is required to be paid on Retained earnings.
Unless the comany decided to declare dividends to shareholders the 65cror will be added into Equity/Reserves of the company. (Equity is initial investment by the owner in the business plus any future retained earnings/profits after tax transfered to the equity side of the balance sheet). When a UK company declares dividend, tax is always deducted AT SOURCE and then owner takes the dividend. All these taxes are shown, withheld and deposited by the Company and appear in the TAX returns of the COMPANY as per law and not in the returns of the OWNER. OWNER WILL PAY ONLY INCOME TAX ON what he takes in forms of SALARY/INCOME to his home, that which is left in the Company is Company's and Company will pay income/corporate tax on it (SEPARATE LEGAL ENTITY CONCEPT)
Show common sense if you have some. Its not only the case with Sharif family its a global accounting concept applied on all hundereds of thousands of Companies all over the world.
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L0L now i can understand how do they steal tax, because educated accountants are there who eat money and tell them tricks to steal taxes bohat achey bhai, I am impressed :) ab yeh bhi bata do ke Dividend per tax, dividend leney waley ke account mai ata hai yeh woh bhi Company ke account mai chala jata hai ???
Tax deducted on source, whether on dividend or salary or payments is desposited in government's exchequer by the company. In many jurisdictions, the government requires the company to withhold at least the standard tax, paying this to the national revenue authorities and paying out only the balance to the shareholders.
Again silly argument, all what I told you was international applicable accounting rules, tax laws but see what you have in reply to say, since you have no answer you start mocking the profession. Now you say all accountants are chor coz they support all business men in forgeries, all lawyers are chor coz they defend them in courts, all media persons are chor coz they promote them on media, Only you people are farishtas. Unfortunately Imran Khan's supporters have no argument.
Again silly argument, all what I told you was international applicable accounting rules, tax laws but see what you have in reply to say, since you have no answer you start mocking the profession. Now you say all accountants are chor coz they support all business men in forgeries, all lawyers are chor coz they defend them in courts, all media persons are chor coz they promote them on media, Only you people are farishtas. Unfortunately Imran Khan's supporters have no argument.
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Re: Lekin 4th December 2011 - Suleman Shehbaz & Ansar Abbasi - Captain's Challenge to Opposition
What challenge - he was just barking like a idiot with some great facilitation from dumb host who was fully supportive of his bullshit
What challenge - he was just barking like a idiot with some great facilitation from dumb host who was fully supportive of his bullshit
usmankhan001
MPA (400+ posts)
Re: Lekin 4th December 2011 - Suleman Shehbaz & Ansar Abbasi - Captain's Challenge to Opposition
ak show agar pti walo ko mauqa kum mila tu anchor biased hogaya ? grow up kids har chanel p imran khan ko 2 2 ghanty time dynay walo ko biased q nae kahty ?
ak show agar pti walo ko mauqa kum mila tu anchor biased hogaya ? grow up kids har chanel p imran khan ko 2 2 ghanty time dynay walo ko biased q nae kahty ?
Haha @ Silly Argument, i can see how a professional can become silly when he tries to defend his criminal leader.
Well So do you mean that if an investor is given 10K as dividend he doesnt pay tax on it, before answering keep in mind you said you are professional in this :) bear in mind what Pakistani Law says about dividend double taxation :)
"And every accountant is chor who gives illegal advices/tips to his client to steal taxes and every lawyer is chor who tries to defend lie for the sake of money, Allah ki ***** hai aissey Accountants aur Wakeelo per."
Well So do you mean that if an investor is given 10K as dividend he doesnt pay tax on it, before answering keep in mind you said you are professional in this :) bear in mind what Pakistani Law says about dividend double taxation :)
"And every accountant is chor who gives illegal advices/tips to his client to steal taxes and every lawyer is chor who tries to defend lie for the sake of money, Allah ki ***** hai aissey Accountants aur Wakeelo per."
oscillator
Voter (50+ posts)
Defaulters whose loans were written off : http://www.lib.virginia.edu/area-studies/SouthAsia/SAserials/Dawn/1997/09Jan97.html#defa
Gotcha Mr. Sharif! :)
Gotcha Mr. Sharif! :)
imyrathore
MPA (400+ posts)
my friend u dont need to qoute uk laws to me. I live and work in UK and have a fund management background with close association with the police and local government. The main focus of the western countries around money laundering is preventing narcotics and terrorism related transaction. However despite all the systems that they have put in place, every year since the year 2000 western countries receive about $900- billion from poor countries ($150-billion from Africa) in the form of tax evasion, embezzlement, fraud accounting debt servicing and corruption. The World Banks Stolen Asset Recovery initiative estimates the cross-border flow of proceeds from criminal activities, corruption and tax evasion at between $1 trillion and $1.6 trillion per year, about half of which come from developing and transitional economies. According to Global Financial Integrity , "$900-billion is secreted each year from underdeveloped economies, with an estimated $11.5 trillion currently stashed in havens. More than one quarter of these hubs belong to the UK, while Switzerland washes one-third of global capital flight".
So ther is a flaw in the system and with the right know how and pressing the right buttons u can get away with murder. Mate you are being naive to say that our politicans dont have money stashed over seas from corruption and deals committed in Pakistan. If that wasnt the case they would approach the western governments to disclose all accounts. It will never happen because they r all involved. In the case of sharifs the vast majority of the money they looted from pakistan took place pre 1999 and they have used this to build up the assetts in the 2000s. To be honest you have to be daft not to realise why nawaz changed the laws so that you didnt have to declare the source of income for money to be sent from oversees. its one of the biggest frauds committed by any leadership. All of the illegal money goes from pak and then comes back clean - simple. By the way why do you think the overseas remittenace have increased year on year since - and this issue was questioned by most of the economists as the monies involve dont tally with the number of pak labourers overseas.
By the way the how can u quantify the increase of sharifs assetts from the 80's up to 93. the increase was around 800 to 1000 percent. This was through leaning on local banks to provide the loans etc. Forget anything else just in number of sugar mills they built up during that period include Abdullah Sugar Mills, Brother Sugar Mills, Channar Sugar Mills, Chaudhry Sugar Mills, Haseeb Waqas Sugar Mills, Ittefaq Sugar Mills, Kashmir Sugar Mills, Ramzan Sugar Mills and Yousaf Sugar Mills.
My friend, i have no issues with any business man who has made money through the right channels and even would understand some small degree of corruption but when our leadership destroys the future of pakistan by changing laws to suit ther business interest (sugar prices, cement prices, scrap prices, cotton price etc) thats demonstrates morally bankrupt humans. Guys like azam premji, tata, bill gates, warren buffet may be stone faced ruthless sob in the business world and may be guilty of allsorts of crime but they didnt rob from ther people, unlike our leadership. By the way Pak has one thing common with saudia - the richest people in the country and ther so called leaders.
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imyrathore
MPA (400+ posts)
Re: How shrifs took money abroad simply Put in big bags to Saudia than transfer to uk via bank
My friend your may be 100 percent right with this that the businesses were built before they went in exile, but the problem is that all these businesses were built up whilst the sharfi zadas were in power. i just cant believe we still have drones who look at these corrupt elite as ther lord and masters. They follow them like the drones before them followed kings n queens and then when they died ther aulad was worshipped etc. No wonder the muslims world over are in such a state. The countries which have managed to break this cycle Turkey, Malaysia and Indonesia have prospered and built up a solid economy combining manufacturing with agriculture and robust governance systems. Where as our drones still follow zardaris n sharifs.
