FBR okays team to execute AEOI project
After getting approval from Finance Minister Ishaq Dar on the pilot project of automatic exchange of information (AEOI), the Federal Board of Revenue (FBR) has approved a team to execute the project with the Organisation for Economic Cooperation and Development OECD Member countries.
According to a notification issued by the FBR here on Monday, Mohammad Iqbal, Chief (International Taxes) FBR would be project leader; Malik Amjed Zubair Tiwana, SA to Chairman, FBR, would be member of the project; Rabia Yaser Durrani, Secretary, (EOI), FBR, Member; Fida Mohammad, Secretary, (TT&C), Member; Abid Naeem, Senior Manager, PRAL, Member;
Nadeem Akhtar Sherazi, Deputy Director, State Bank of Pakistan (SBP), Member; Khalida Habib, Director, SECP, Member; Ms Kaelen Onusko, Tax Policy Analyst, OECD, Member and Jon Swedlow, HMRC would be Member of the project. The officials concerned have been nominated by the State Bank of Pakistan governor and Securities and Exchange Commission of Pakistan’s Chairman respectively.
Pakistani tax authorities argued that the membership of the OECD would bring long term economic benefits and help in controlling tax evasion and tax avoidance. The treaty would enable to curb tax evasion as all the member states have committed to implementing all international standards on exchange of information.
