Home National FBR probes Rs369.4mn ‘benami’ transactions

FBR probes Rs369.4mn ‘benami’ transactions


KARACHI: The Federal Board of Revenue (FBR) has traced another ‘benami’ account with transactions of Rs369.4 million within last three years in Karachi.
On the request of the Intelligence and Investigation Inland Revenue, a court approved FBR’s request to lodge a case against bank account holder Muhammad Ibrahim and issued bailable warrants for his arrest.
Ibrahim, a resident of the Nusrat Bhutto colony, opened the account in 2015 and made transactions of Rs2 million every month.
Meanwhile, the FBR Intelligence and Investigation Inland Revenue have launched investigation into the matter.
Earlier, the FBR had traced transactions of over Rs8 billion through six benami bank accounts in Karachi.
Subsequently, the FBR lodged cases against four people on charges of tax evasion to the tune of Rs1.26 billion.
An FBR official said the suspect was not available at his residence. – NNI