FBR seeks details of ‘benami accounts’ from banks


ISLAMABAD: Federal Board of Revenue Chairman Shabbar Zaidi here on Monday sought details of benami accounts from banks. In a letter, Shabbar Zaidi asked the banks to provide information pertaining to benami accounts to FBR within two weeks. He assured the banks that the information would be kept highly confidential.

The chairman said that FBR was mandated to take action against benami accounts under the Benami Transaction (Prohibition) Ordinance, 2017. He said, “FBR has legal obligation under the aforesaid law to identify such assets. The FBR chairman said that the best approach in this regard was mutual cooperation, voluntary compliance and close coordination between banks and FBR.

Earlier on July 9, the Federal Board of Revenue (FBR) had decided to issue notices to the owners of benami properties. The FBR officials had gathered data of 45 people owning benami properties in Lahore. The benami law, aimed at the properties and bank accounts that would not be registered with the name of the real owner. The names of the owners of the benami properties, being served notices, would not be disclosed.

Comments are closed.

Subscribe to Newsletter