Seizure of Benami properties gets underway

RAWALPINDI: Acting upon the directives of Prime Minister Imran Khan over asset declaration, the Federal Board of Revenue (FBR) has formally starting seizing undeclared (benami) properties in the country, ARY News reported on Wednesday.

Senator Chaudhry Tanvir belonging to Pakistan Muslim League Nawaz (PML-N) had benami property registered in the name of his servants which has been ceased by FBR making him the first person to have his undeclared assets confiscated by the institute.

Tanvir’s benami property has been estimated to spread over 6000 canals.

Read More: Deadline to declare assets under Assets Declaration Scheme ends today

His servants Abdul Aziz, Azhar Ali, Mubin Maroof, Sahajahan Begum and Raja Shakorr have been sent legal notices by FBR informing them about the development and the consequences.

FBR has also been issued approvals for seizing 8 benami properties in Karachi which are being speculated to be owned by Omni Group.

Deadline to declare assets under Assets Declaration Scheme through a Presidential Ordinance will end today.

According to Chairman Federal Board of Revenue (FBR) Shabbar Zaidi one lac five thousand people have benefited from the scheme thus far.

He expressed hope that the government would be able to collect tax worth Rs45 billion through the asset declaration scheme, adding that sales tax registration can be done online from now on.

Read More: Authority to implement Benami Act to function from tonight: Shabbar Zaidi

The scheme which was supposed to close on July 1 was extended for three more days with an aim to benefit more people.

Adviser to Prime Minister on Finance, Abdul Hafeez Shaikh on Sunday announced the government’s decision to extend the deadline of the assets scheme till July 3 (today).

The chairman FBR has ruled out any more extension in the deadline of the scheme.