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FBR kicks off action against individuals with benami properties

July 3, 2019
 

The Federal Board of Revenue sprang into action on Tuesday against individuals with benami (fictitious) assets.

Officials of the revenue authority seized the 6,000 kanal agricultural land of Pakistan Muslim League-Nawaz Senator Chaudhry Tanveer in Rawalpindi.

They said the PML-N leader had the property registered under the names of his servants, who were issued notices.

Notices have also been sent to different individuals in Sindh over benami properties, including the owners of two plots in Karachi’s Civil Lines area and one in Clifton Block 5.

According to the revenue authority, two private bank branches have also been operating on such properties in the metropolis. The FBR also issued notices to two cement factories in Thatta.

An individual with a benami asset can be fined and sentenced to prison up to seven years, according to the law. The concerned commissioner and deputy commissioner would have the authority to seize such properties.

It has been learnt that the FBR has acquired data of four million individuals.

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