The Federal Investigation Agency (FIA) has registered a case against former Federal Board of Revenue (FBR) chairman and chartered accountant Shabbar Zaidi over allegations of issuing unauthorised income tax refunds worth Rs16 billion during his tenure.
According to media reports, the FIA’s Anti-Corruption Circle has accused Zaidi of criminal misconduct, abuse of authority, and unauthorised disbursement of public funds. The investigation revealed that three private banks, two cement manufacturers, and one chemical company were among the beneficiaries of the alleged unauthorised refunds.
It is alleged that the beneficiary firms had previously been clients of Zaidi’s private audit and consultancy firm before his appointment as FBR chairman, raising concerns over conflict of interest.
The FIR names Zaidi and several FBR officials, accusing them of approving and releasing tax refunds without verification through the normal audit process.
Investigators said the refunds were processed manually, bypassing the FBR’s electronic scrutiny system, and failed to comply with internal financial checks.
Officials said further investigation is underway to determine the extent of irregularities, identify accomplices, and trace the flow of funds.
The FIA has also sought records from the FBR and State Bank to verify the details of the transactions and the companies involved.
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