Benami properties are the ones which the real owners have retained in other people’s names either to hide their source of income or evade taxes. They stressed, however, that it had to be established that the properties were owned by the political persons. The provisional attachment is the first step in the long journey of establishing that the property belongs to someone else. PTI govt fails to step up drive against Benami assetsThis is the FBR’s second major enforcement action in Rawalpindi in its ongoing drive against Benami properties. In order to unearth Benami properties, the federal cabinet on Tuesday approved the issuance of the Benami Transaction (Prohibition) (Amendment) Ordinance 2019 aimed at expanding the definition of a ‘whistle-blower’.

Source: The Express Tribune October 26, 2019 03:22 UTC