The Federal Board of Revenue (FBR) has uncovered a major wealth statement fraud case involving Rs. 9.41 billion in previously undeclared assets and registered a money laundering case under the Anti-Money Laundering Act, 2010.
The case was detected by the Directorate General of Intelligence and Investigation (Inland Revenue) after an analysis of FBR’s database with support from Pakistan Revenue Automation Limited (PRAL).
The analysis identified 85 taxpayers who revised wealth statements between March 2025 and June 2026 for tax years 2014 to 2019. The revised statements included cash, gold, prize bonds, properties and business capital that had not been declared previously.
FBR said such revisions were not permitted because Section 116(3) of the Income Tax Ordinance, 2001, does not allow a wealth statement to be revised after five years from the due date of the original return.
In one case investigated by the Lahore Directorate of Intelligence and Investigation, a taxpayer revised a wealth statement for tax year 2015 in May 2026 and added Rs. 102.8 million as funds.
The taxpayer subsequently carried the amount through wealth statements up to tax year 2025 and used the funds to account for seven properties worth Rs. 64.41 million purchased in May and June 2026.
According to FBR, the taxpayer could not explain the source of the funds. The tax allegedly sought to be evaded in this case exceeds Rs. 46 million.
FBR’s regional intelligence and investigation directorates have launched 48 criminal inquiries across the country. Proceedings in the remaining cases are also being processed.
The money laundering case has been registered against the taxpayer and any other persons found to have assisted in the alleged manipulation.
FBR said its data analysis systems would continue to identify attempts to manipulate wealth statements and bring unexplained assets into the tax system.
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