Authority to implement Benami law to function from tomorrow

ISLAMABAD: An Adjudicating Authority will start functioning from July 1, 2019 (tomorrow), to implement Benami Act, 2017, ARY News reported on Sunday.

It is to mention here that the Assets Declaration Scheme launched by the government will expire on June 30 (today).

Jameel Ahmed, a retired Pakistan Administrative Service officer, has been notified as the Chairman of the adjudicating authority. Muhammad Tanveer Akhtar and Khaqan Murtaza have been notified as two other members of the authority.

The Federal Board of Revenue (FBR) has set up administrative structure to implement Benami Act, 2017 and the adjudicating authority has been constituted to take action against Benami holders of bank accounts or properties with effect from July 1, 2019 (tomorrow).

Chairman FBR Shabbar Zaidi has said that the taxation authority has initiated its work to implement the Benami law.

The government has notified the names of officers for the Benami Zones established under the relevant law. In the preliminary phase three Benami zones have been established.

A person if failed to declare his/her Benami properties, he/she will be held accountable under Benami Act, 2017 after June 30 (today), the deadline of the amnesty scheme.