LAHORE: Pakistan Tehreek-I-Insaf (PTI) chairman Imran Khan has admitted that he formed an offshore company to buy the London flat in 1983 to evade British taxes.
According to Dawn, when speaking to reporters at London Heathrow Airport, Imran said that he formed the offshore firm on the advice of his accountant to evade taxes during his playing days to buy a flat in London.
“I was already paying 35 per cent tax on my income there, so to evade further taxes, I bought the flat through an offshore firm, which was my right as I was not a British citizen,” Imran told the reporters.
Meanwhile, PTI spokesperson Naeemul Haq also admitted that Khan had formed a ‘legal’ offshore company through his earnings from cricket.
“I was Imran Khan’s bank manager in London at that time, his accountants formed this company to buy the London flat,” said the PTI spokesman.
He added that when the flat was sold, Imran brought the money to Pakistan through Habib Bank.
Imran Khan had severely criticised Prime Minister Nawaz Sharif and his family for owning and benefiting from offshore companies after the ICIJ investigation which led to the release of Panama papers revealing offshore accounts of the rich and mighty across the world.
He, along with other opposition leaders, demanded the Prime Minister to resign until the issue is investigated and the premier gets a clean chit.