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FBR acts against benami property holders as deadline ends for Asset Declaration Scheme

FBR acts against benami property holders as deadline ends for Asset Declaration Scheme

ISLAMABAD: The Federal Board of Revenue (FBR) sprang into action against owners of undeclared ‘benami’ properties as the deadline for the government’s Asset Declaration Scheme ended on Wednesday.

The tax collection body started its action against ‘benami’ properties from Karachi and the twin cities of Islamabad and Rawalpindi.

Among the first politicians affected was Chaudhary Tanvir Khan of the Pakistan Muslim League Nawaz (PML-N) over his undeclared land in Rawalpindi. The deputy commissioner Income Tax in Rawalpindi issued the orders to “provisionally attach” the property under the Benami Transaction (Prohibition) Act 2017, after which it would be unable to transfer or sell such a property until cleared.

Notices were also sent to the six individuals on whose names the ‘benami’ property was registered. The individuals Mohammed Basharat, Raja Abdul Shakoor, Shahjahan Begum, Mohammed Maroof, Azhar Ali, and Abdul Aziz were said to be employees working for the PML-N politician.

Similar action was carried out in Karachi, with Deputy Commission Income Tax Syed Mashkoor Ali issuing notices to ‘benami’ property holders.

Official documents showed that a notice was issued to an individual named Nadeem Ahmed Khan for holding a ‘benami’ property in Federal B Area at the address House 169/10.

A similar notice was sent to the address of a bungalow, 157-F Block-5 in KDA Scheme 5 in Clifton. A company by the name of Al Miftah Holding (Pvt) Limited has its offices at the address.

Another notice for holding undeclared ‘benami’ property was dispatched to the address 19-1/C in PECHS Block 6.

The federal government had introduced the Asset Declaration Scheme 2019 in May, and the deadline for declaring such assets ended earlier today, after it was extended to July 3.

Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh had said the government intends to form a commission to take action against ‘benami’ properties still left undeclared after the deadline.

Earlier this week, Prime Minister Imran Khan vowed that action would be taken against politicians keeping ‘benami’ properties and that all such properties would be confiscated.

Similar action against all other people who hold benami properties or bank accounts would also begin after the deadline ends, he said talking to a private news channel.