FBR Boosts International Collaboration to Tackle Tax Evasion
ISLAMABAD: The Federal Board of Revenue (FBR) has stepped up efforts to combat tax evasion through international cooperation. During the fiscal year 2023-24, the FBR processed 30 requests from global tax jurisdictions under the exchange of information (EOI) arrangement and initiated data requests in 17 cases to address suspected tax evasion.
A recent FBR report highlights the importance of these exchanges in ensuring tax compliance, particularly for individuals and corporations with offshore accounts. By leveraging international networks, the FBR aims to strengthen domestic tax compliance and curb illicit financial activities.
The FBR has also made strides in implementing automatic information exchange systems under OECD guidelines. This initiative grants the FBR access to data on Pakistani taxpayers holding assets abroad, strengthening measures to combat tax evasion and fostering global tax compliance.
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Through these advancements, the FBR underscores its commitment to addressing profit shifting, base erosion, and improving corporate tax compliance in line with international best practices.
