FBR to brief PM on tax reforms, benami properties - Zameen News

FBR to brief PM on tax reforms, benami properties

August 30, 2019 • news

Islamabad: Prime Minister (PM) Imran Khan has issued directions for the Federal Board of Revenue (FBR) to arrange a briefing for him in the first week of September on tax reforms and documentation initiatives, as well as their progress on the tracking of benami properties, according to the news sources.

As per sources, the PM Office has issued a letter to the FBR Chairman Shabbar Zaidi to meet with the Prime Minister, and give a presentation on September 5, 2019. Any changes to the meeting date, if any, will be communicated to the FBR.

Read: FBR launches software to monitor sales tax collection

It is expected that the discussion at the meeting will be centered on the recovery drive against prominent high-net-worth tax evaders, and latest reform initiatives in regards to the documentation measures, which includes the provision of national identity card (CNIC) numbers of unregistered buyers. The department has announced that despite the intact Finances Act 2019, it will not take action against traders who can provide their CNIC numbers till September 30.

In another development, all of the deputy commissioners and heads of development authorities in the country are tasked with the identification of the ‘benami properties’, and are to present their reports to the PM Offices and FBR Chairman by September 30. The PM has reportedly stressed for the provincial governments to utilise respective institutions for the task.

Read: FBR sends notices to 16,000 benami asset holders in Lahore

The meeting will also review the progress on the detection of off-shore assets and properties of Pakistani nationals, and the subsequent recovery of the taxable amounts.