Pakistan News Service

Friday Aug 23, 2019, Zul-hijjah 21, 1440 Hijri
Logo
LATEST :
Pakistan News Home -> Top -> News Details

Banks to collect details of benami accounts: FBR Chairman

23 July, 2019

  Related News  
Imran Khan met Trump at White House
Imran Khan address in US
  More on this View All

Federal Board of Revenue (FBR) Chairman Shabbar Zaidi on Monday asked all banks in the country to collect details of ‘benami’ accounts of their bank account holders themselves, instead of the FBR doing so.

According to a statement issued by the FBR, Zaidi wrote a letter to the heads of the banks and asked them to collect the details under the Benami Transaction (Prohibition) Act 2017. The board, as per the statement, does not want to contact account holders directly “so that people’s trust in FBR can be maintained”.

According to the FBR, information provided regarding the benami accounts would be kept confidential.

“Under the Benami Transaction (Prohibition) Act 2017, [the] FBR is responsible for identifying benami accounts,” the statement read, adding: “If FBR and banks work together, better results can be achieved.”

The board noted the importance of the cooperation of banks and requested that they submit all information related to benami accounts to the FBR within 15 days.

Earlier this month, the FBR had initiated proceedings against citizens who failed to declare their benami properties under the Assets Declarations Scheme, which expired on July 3.

 What do you think about the story ? Leave your comments!

Heading (Optional)
Your Comments: *

Your Name:*
E-mail (Optional):
City (Optional):
Country (Optional):
 
 
Field marked(*) are mandatory.
Note. The PakTribune will publish as many comments as possible but cannot guarantee publication of all. PakTribune keeps its rights reserved to edit the comments for reasons of clarity, brevity and morality. The external links like http:// https:// etc... are not allowed for the time being to be posted inside comments to discourage spammers.

  Speak Out View All
Military Courts
Imran - Qadri long march
 
Candid Corner
Exclusive by
Lt. Col. Riaz Jafri (Retd)
Pakistan itself a victim of state-sponsored terrorism: Qamar Bajwa
Should You Try Napping During the Workday?
Suggested Sites