FBR Issues Guidelines for Forfeiting Assets Acquired Through Smuggling to the Federal Govt
The movable and immovable properties suspected of having been acquired through proceeds of smuggling would be forfeited to the Federal Government and publicly auctioned, according to the new rules of the Federal Board of Revenue (FBR).
The Federal Board of Revenue (FBR) has issued a detailed procedure for the customs officials for forfeiting assets to the Federal Government suspected to have been acquired from illegal money earned through smuggling.
In November 2020, the FBR had issued the draft Forfeiture of Property Rules. Now, the final rules have been notified here on Thursday.