PM paid no wealth tax in seven years

PM paid no wealth tax in seven years

ISLAMABAD: Prime Minister Nawaz Sharif paid Rs9.77 million in wealth tax from the year 1993 to the end of his ‘forced exile’ in November 2007, but he has not paid any wealth tax over the past seven years.

An unsigned document containing the details of tax payments made by Mr Sharif, which was submitted by him to the National Assembly a day earlier, was released to the media on Tuesday.

The document showed that the prime minister paid income tax worth Rs0.65 million between 1993 and 2007, bringing the total amount of taxes paid over the 14 years to Rs10.42 million. The column for agricultural tax for the same period, however, has been left blank.

Mr Sharif remained in exile in Saudi Arabia from December 2000 to November 2007.

The document is silent on taxes paid in the fiscal year 2008-2009, and the column for wealth tax was blank for the years 2009-2010 to 2015-2016.

Sharif family’s industrial units paid Rs9.87bn tax over 23 years

He paid Rs2.01 million in income tax and Rs0.75 million in agricultural tax in 2009-2010. In 2010-2011, Rs2.51 million was paid as income tax and Rs0.74 million as agricultural tax. In the year 2011-2012, the income tax amount dipped slightly to Rs2.44 million, while agricultural tax climbed to Rs.1.23 million.

In 2012-2013, Rs2.64 million was paid as income tax and Rs1.9 million as agricultural tax. In 2013-2014, Rs 2.61 million was paid as income tax, while agricultural tax crossed the Rs2 million mark for the first time.

In 2014-2015, both income and agricultural tax showed a downward trend, falling to Rs2.19 million and Rs1.96 million, respectively.

The statement showed that Rs.2.49 million was paid as income tax during the current fiscal year, but the column for agricultural tax is blank.

Another document showed that the 12 industrial units owned by the Sharif group paid Rs9.87 billion in taxes between October 1993 and April 2016. The major portion of taxes was paid by two sugar mills owned by the group. Chaudhry Sugar Mills paid a little over Rs5 billion in taxes while Ramzan Sugar Mills paid over Rs4 billion during that period.

Mehreen Ramzan Textile Mills paid Rs230 million, Hamza Board Mills Rs163 million, Hudabiya Engineering Company Rs207 million, Shareef Feeds Mills Rs184 million, Shareef Dairy Farms 16.4 million, Sharif Milk Products Rs16.6 million, Sharif Poultry Farms Rs8.08 million, Crystal Plastics Rs4.5 million, Madni Trading Company Rs1.6 million and Ramzan Energy a little over Rs100,000 during that period.


Leave a Comment