ISLAMABAD: The Federal Board of Revenue (FBR) has identified another 21 luxury benami vehicles in Karachi.
According to sources, FBR’s Anti-Benami Zone-III has identified 21 vehicles worth millions of rupees registered in the names of different people. These vehicles included Prado, Premio, Mehran, Cultus, Wagon R, Corolla, Alto, Land Cruiser and Sportage.
Sources said that FBR will release a public notice with regard to these suspected benami assets that were purchased via benami transaction as defined under the Benami Transactions (Prohibition) Act, 2017.
As per law, an anti-benami zone can confiscate a vehicle if the relevant person fails to provide the source of income.
Earlier in September 2020, the FBR’s Anti-Benami Zone-III had confiscated some 19 Benami vehicles, including Mercedes-Benzes, BMWs, Toyota Prados, Suzuki Mehrans, Toyota Corollas and two Suzuki Cultuses, worth Rs100 million.