FBR busts Rs9.41bn wealth statement fraud
ISLAMABAD: The Federal Board of Revenue (FBR) has busted a fraud in which taxpayers illegally revised their old wealth statements to bring unexplained assets worth Rs 9.41 billion into their declared wealth. A criminal case under the Anti-Money Laundering Act, 2010 has been registered, and further cases are being processed. The fraud was unearthed by the Directorate General of Intelligence and…
The Federal Board of Revenue (FBR) has exposed a fraud where taxpayers manipulated their past wealth statements to secretly include unexplained assets, totaling Rs 9.41 billion. The crime was identified by the Directorate General of Intelligence and Investigation (Inland Revenue) using data from the FBR's system, in collaboration with Pakistan Revenue Automation Limited (PRAL).
The analysis revealed that 85 individuals, between March 2025 and June 2026, revised their wealth statements for the tax years 2014 to 2019, adding cash, gold, prize bonds, properties, and business capital that had never been reported before. The revised wealth statements, made more than five years after the original returns were due, included forged sums like Rs 102.8 million in one case.
The taxpayer in that instance could not justify the origin of the money, and the tax evasion in this single case alone surpassed Rs 46 million. Authorities have initiated 48 criminal investigations nationwide, with proceedings on the remaining cases ongoing. A money laundering case has been filed against the individuals involved, and additional investigations are underway to apprehend everyone implicated in the scam.
The FBR emphasized that the tax system will not be exploited to conceal unexplained wealth, and any complicity will be met with legal action, including severe penalties and prosecution.
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