Islamabad: The Federal Board of Revenue (FBR) on Monday asked the banks to collect the details of benami accounts and share the information with the board within 15 days, a news source reported. FBR Chairman Shabbar Zaidi issued these directives in a statement.
In his letter addressed to the heads of the banks situated countrywide, Zaidi indicated that the federal institution would not undertake the task all by itself and required the assistance of these financial assistances on this front.
He urged the officials concerned to collect the necessary details previously communicated under the Benami Transaction (Prohibition) Act 2017; adding that the FBR considered the information on benami accounts confidential.
Under the said law, the federal institution is tasked with the responsibility of collecting the benami accounts details. ‘If the banks and FBR work together, better results can be achieved,’ read the letter.
At present, the board has initiated proceedings against those who didn’t declare their properties under the Assets Declaration Scheme, which expired on July 3.
