Rules vetted to make Benami Act operational

[ahlam1399]

ISLAMABAD: The Ministry of Law has vetted rules framed by the Federal Board of Revenue (FBR) to make Benami Act operational and now the cabinet approval will be sought next week to notify these rules.The enforcement of Benami Act will enable to the government to confiscate all assets and bank accounts kept on name of others in a bid to evade taxes. This is a major step to plug loopholes to avoid payment of taxes in Pakistan.The last PML-N government had approved the Benami act in January 2017 and it took two years to make it operational. When contacted, the FBR Member IRS Policy Hamid Ateeq Sarwar said the Benami Act is already in place. “Benami rules are needed to implement it. The rules are being vetted by the Law Division. We expect that CCLC will take it up on Wednesday and then the cabinet on Thursday,” he said.http://feeds.feedburner.com/~r/com/cwEr/~4/WeZRaQvGZsA

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