FBR appoints national coordinator to implement Benami law

ISLAMABAD: The Federal Board of Revenue (FBR) had appointed Nosheen Amjad as National Coordinator for implementation of Benami Transactions (Prohibition) Act, 2017.

The Benami law had become operative since March 2019, and FBR was the focal authority under this act, said a press release issued by FBR on Thursday.

The matter of proper implementation of Benami Transactions (Prohibition) Act, 2017 would be monitored by the FBR chairman, whereas administrative structure had been set up to implement the Benami Act 2017.

In this regard, an adjudicating authority was also being formed and Benami zones were being established, which would become effective very soon. Initially, Benami zones would be established in three big stations including Karachi, Lahore and Islamabad.

A person could avail Assets Declaration Ordinance 2019 before June 30, 2019, if he had not declared the Benami properties yet.

In case of non-compliance, he would be held accountable under Banaami Act 2017.

- Advertisment -

Must Read

President tells K-Electric to ensure smooth supply to industry

KARACHI: President Dr Arif Alvi has urged the industrialists to join hands for the resolution of issues faced by the business community and make...