ISLAMAVAD – PTI government has sent formal requests to 10 more countriesunder the Organization for Economic Cooperation and Development (OECD)mechanism for information exchange.
Along with that, the government has separately asked Switzerland for theexchange of information about the Pakistanis who have hidden their assetsabroad to avoid taxes.
Minister of State for Revenue Hammad Azhar revealed this in a newsconference.
“We have made requests to 10 more countries for getting the automaticexchange of information and so far we have received details about 150,000bank accounts from 29 jurisdictions under the Organization for EconomicCooperation and Development (OECD) treaty,” said the minister.——————————
“We have also made another request to Switzerland for the exchange ofinformation in January (last month) and they are willing to share data butso far it has not yet been operationalized,” he added.
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The state minister also told that the Federal Board of Revenue (FBR) isconstituting six omcommissionerates, as they were making profiles out ofthe information received from 150,000 account holders from 29 jurisdictionsunder the OECD.
He further divulged that the government has proposed a provisionalassessment of individuals having offshore assets by tabling a reform billin the parliament. The provisional assessment of offshore assets’ ownerswill prevent any attempt to benefit out of the lengthy process ofassessments and moving out the assets or money.
