Pakistan: Former FBR Chairman Shabbar Zaidi Booked in Rs 16 Billion Illegal Tax Refund Case

The Federal Investigation Agency’s (FIA) Anti-Corruption Circle has registered a case against former Chairman of the Federal Board of Revenue (FBR), Syed Muhammad Shabbar Zaidi, for allegedly issuing over Rs 16 billion in unlawful income tax refunds.

According to the FIR, several companies that received these refunds were clients of Zaidi’s private firm. The list reportedly includes three banks, two cement manufacturers, and a chemical company.

Documents reveal that Zaidi, during his tenure as FBR Chairman, allegedly authorized the payments between May 2019 and January 2021 in collusion with subordinates.

The FIA filed the FIR on October 29, naming Zaidi, certain FBR officials, and bank executives.

Sources indicate that the case involves massive losses to the national exchequer, and further arrests are expected