Action starts against 'benami' property holders as deadline for Assets Declaration Scheme ends

ISLAMABAD (92 News) – Action was started against the people having 'benami' properties after the expiry of the deadline for Asset Declaration Scheme on Wednesday. Federal Board of Revenue (FBR) Shabbar Ziadi shared that more than 150,000 people have registered their undeclared assets so far with the FBR by availing the Asset Declaration Scheme. “The Asset Declaration Scheme provided a golden chance to people to declare their undeclared assets by paying a little amount of tax on,” Ziadi said. “Tax-filing was the responsibility of every citizen to ensure growth and development of the country. With the new initiatives the government has eliminated the concept of non-filer in the tax system and henceforth it would be hard for any citizen to remain out to tax-loop now,” he added. Zaidi further said, he was optimistic that the Asset Declaration Scheme would be successful, however once again clarified that the deadline for the scheme would not be extended further. On Sunday, Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh announced that the federal government has extended the deadline of Asset Declaration Scheme for three more days. The adviser has mentioned that the assets declaration scheme is in the final phase and the people can reveal their assets till July 3 otherwise will be punished. “We are extending the deadline of Asset Declaration Scheme by July 3 in the better interest of the people who wanted to gain benefit from the scheme,” he announced after a meeting under the chair of Prime Minister Imran Khan. On the occasion the FBR chairman said that thousands of people are availing the tax amnesty scheme. “The further details regarding the amnesty scheme would be given in two to three days,” he added. He said that National identity card (NIC) number will convert into National tax number (NTN) after the month of August.