ISLAMABAD: According to the official notice issued, Benami Transactions (Prohibition) Act, 2017 has become operative since March, 2019. Ms. Nausheen Javaid Amjad, Member Taxpayers Audit will be the Coordinator for implementation of Benami Transactions (Prohibition) Act, 2017.
Federal Board of Revenue will be the dealing authority under this Act and proper implementation of this act will be monitored by the Chairman.
Administrative structure has been set up for implementation of this act.
In this regard, an Adjudicating Authority is being formed and Benaami Zones are being established which will become effective very soon. Initially Benaami Zones will be established in three big stations Karachi, Lahore and Islamabad.
A person can avail Assets Declaration Ordinance- 2019 before 30th June if he has not declared the Benaami properties yet. In case of non-compliance, he will be held accountable under Banaami Act-2017.
