FBR all set to initiate crackdowns against benami assets

KARACHI: The Federal Board of Revenue (FBR) authorities have pulled socks up for initiating large-scale crackdowns against benami [undisclosed] accounts and properties across the country, ARY News reported on Monday.

A high-powered authority has been constituted that was tasked to open thorough probe into benami accounts, whereas, FBR authorities have also established ‘Benami Zones’.

High-level officers of FBR were appointed in the zone to collect complete data of undisclosed properties for finalising a plan to conduct crackdowns.

According to FBR sources, the concerned officers will be authorised to forward cases to the newly-constituted authority which would hand it over the federal government after compiling an investigation report.

Read More: Action against politicians’ benami properties from today, no NRO for the corrupt: PM Imran

Moreover, the board made postings and transfers of 11 senior officers in the benami zones.

Commissioner Islamabad Hasan Zulfiqar has been appointed as Commissioner Inland Revenue (IR) Upper Wing Authority while Deputy Commissioner Regional Tax Office (RTO) Muhammad Hussain has been appointed as Deputy Commissioner of Benami Zone 1 and Assistant Commissioner IR Hasham Khalid was also posted to the same zone.

Syed Shakeel Ahmed was appointed Commissioner IR and Bilal Mehmood was given charge of Deputy Commissioner IR in Benami Zone 3.

Read More: Asset Declaration Scheme deadline extended till July 3: Hafeez Sheikh

Earlier on June 30, the Adviser to Prime Minister on Finance, Dr Abdul Hafeez Shaikh had announced that federal government has decided to extended the deadline of Asset Declaration Scheme till July 3, ARY News reported.

He announced the decision while addressing a press conference in Islamabad along with Special Assistant to Prime Minister on Information Firdous Ashiq Awan and Federal Minister for Revenue Hammad Azhar.

“We are extending the deadline of Asset Declaration Scheme by July 3 in the better interest of the people who wanted to gain benefit from the scheme,” he added.

Read More: Declared assets could not be presented as evidence against declarer: FBR

He said the government was ready to facilitate industrialists if they are agreed to cooperate, adding that they must pay text if goods are being sold in local markets.

Speaking on the occasion Federal Board of Revenue (FBR) Chairman Shabbar Zaidi said that thousands of people are availing the tax amnesty scheme.

“The further details regarding the amnesty scheme would be given in two to three days,” he added.

He said that National identity card (NIC) number will convert into National tax number (NTN) after the month of August.