Asim Ahmed, Chairman of the Federal Board of Revenue (FBR), inaugurated the Secretariat of the Anti-Benami Adjudicating Authority in Islamabad on Wednesday. This milestone event is expected to enhance the efficiency and effectiveness of the Authority in combating benami transactions and illegal asset holdings.
ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday said that Benami Transactions (Prohibition) Rules, 2019 has been issued in accordance with the law. The FBR issued a rebuttal on a news item published in a daily on February 5, 2020 about the issuance of Benami Transactions (Prohibition) Rules, 2019. FBR has explained that Benami Transactions […]
In a significant move aimed at curbing illicit financial activities and tax evasion, the Benami Transaction (Prohibition) Act, 2017 has brought about stringent penalties for those involved in benami transactions in Pakistan.
ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday issued official note to streamline Anti-Benami Regime to stop white collar crimes. The FBR said that Benami Transactions, entailing the phenomenon of Benami moveable and immoveable properties, Bank A/Cs, Luxury Vehicles, off shore investments and stocks & shares is one of the biggest economic and financial threats, […]
ISLAMABAD: Federal Board of Revenue (FBR) has directed all the banks to provide details of Benami account holders within next 15 days. FBR spokesman on Monday said that FBR chairman Shabbar Zaidi had sent communication to all the heads of banks asking them to provide details of Benami accounts. The spokesman said that the FBR […]
ISLAMABAD: Federal Board of Revenue (FBR) has notified the names of members for adjudicating authorities under Benami law and posted officers of Inland Revenue to initiated proceedings in Benami cases. The following officers have been notified for the adjudicating authority under Benami Transactions (Prohibition) Act, 2017. 1. Jamil Ahmad (Retired PAS/BS-22), Chairperson 2. Muhammad Tanvir […]
ISLAMABAD: Federal Board of Revenue (FBR) has notified adjudication authorities for Benami cases with immediate effect. The adjudication authorities have been set up at Karachi, Lahore and Islamabad. The FBR issued a notification on Saturday stating that consequent upon approval of the federal government and in pursuance of Section 6 of Benami Transactions (Prohibition Act) […]
ISLAMABAD: The taxation has not been widely considered as civic duty in Pakistan, the World Bank said in a report issued recently. The World Bank said that tax evasion is pervasive due to low tax morale and legal loopholes that enable high-value individuals to conceal their incomes. Few Pakistani citizens think of themselves as taxpayers, […]
ISLAMABAD: The commercial banks have assured the Federal Board of Revenue (FBR) of providing details of Benami account holders for the purpose of broadening of tax base and documentation of economy. An important meeting was held on Thursday of all chief financial officers with Syed Muhammad Shabbar Zaidi, chairman, FBR. The CFOs of all commercial […]
KARACHI: Persons may be allowed to avail tax amnesty at one percent for undeclared banking transactions of past five years. According to draft of Tax Amnesty Scheme 2019, credit entries in a person’s own bank account is allowed at one percent of the total credit entries from July 01, 2013 till June 30, 2018 or […]