OECD’s Assessment Team Visits FBR

The Directorate General of International Taxes, Federal Board of Revenue (FBR), received Global Forum’s (OECD) Assessment Team at FBR Headquarters in Islamabad. The Assessment Team conducted the on-site visit of Pakistan under the Second Round of Peer Review on the Exchange of Information scheduled from March 13th to March 16th, 2023. During the on-site visit, the team held meetings with different stakeholders of the review including the Securities and Exchange Commission of Pakistan (SECP), State Bank of Pakistan (SBP), Financial Monitoring Unit, and Trust authorities under the Trust Act, 2020 among others. The Peer Reviews of the Exchange of Information of member jurisdictions are conducted by OECD’s Global Forum on Transparency & Exchange of Information for tax purposes. As a member of Global Forum, Pakistan is also committed to undergoing these Reviews. During the said visit, the team appreciated the efforts and hard work put in by Pakistan to streamline the legal and administrative framework of Pakistan in line with the standards of Exchange of Information set by OECD’s Global Forum under Terms of Reference (2016). The final report of the review will be issued after approval from the Peer Review Group of Global Forum.