Islamabad: The Federal Cabinet has approved the amendment in the Benami Transaction (Prohibition) Ordinance 2019 on Tuesday regarding the expansion of the definition of a whistle-blower, according to news sources.
The cabinet approved the inclusion of an entity and agency as a whistle-blower for the purpose of the Benami Law. The information gathered by the National Accountability Bureau and the Federal Investigation Agency will now be considered as a legal information source for tracing and identifying the real owners of Benami properties. These are properties that owners have retained in someone else’s name in an attempt to avoid taxes or conceal the sources of their income.
The President of Pakistan Dr Arif Alvi will likely promulgate the Ordinance before the Senate’s next session, now that the Ordinance has the cabinet’s approval.
The government is also adjusting the Benami Transaction rules to incentivize whistle-blowing by paying a percentage of the recovered taxes to the whistle-blower, aside from income-tax related rewards. A summary has already been sent to the federal cabinet in this regard.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
