UMNO president Ahmad Zahid Hamidi, whose name has appeared in Pandora Papers, has categorically denied the report and said he never violated tax laws of the country. Zahid said that allegations against him in the involvement in tax evasion activities were completely baseless. His statement comes after Pandora Papers claimed UMNO man was involved in offshore financial transactions.
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Speaking in the parliament on the matter, Zahid said at that time, he was then in the corporate sector and was the Chief Executive Officer (CEO) of a listed company.
He answered this when responding to an interjection by RSN Rayer (PH-Jelutong) who cynically asked whether the UMNO president planned to bring back the money allegedly kept in a bank to help revive the country’s economy.
“When I became the CEO of a listed company, at that time the company I was leading had investments in a large country and had concessions from that country to implement IPPs at that time”, Zahid said in his answer.
He said this when responding to an interjection by RSN Rayer (PH-Jelutong) who cynically asked whether the UMNO president planned to bring back the money allegedly kept in a bank to help revive the country’s economy.
“The profits cannot be taken out, instead they are asked to be reinvested in the country. Of course, as a listed company, want dividends to be given to shareholders.
“Now, the company that has been registered in the name of the listed company no longer exists,” he said in the Dewan Rakyat on Monday.
The Pandora Papers, on Sunday, have exposed the secret foreign assets of hundreds of politicians and businessmen from across the world.