ISLAMABAD – The Senate was informed today that a complete treaty has beensigned with Swiss authorities to gain access to information regarding bankaccounts of Pakistani citizens.
Responding to a question during the question hour in Upper House ofParliament today, Minister of State for Revenue Hammad Azhar said thetreaty signed earlier by the previous government in 2013 was incomplete insome respects as it did not give information of account holders.
The Minister of State added that excluding Switzerland information fromtwenty-nine countries have started coming.
He expressed the hope that process of receiving data from Switzerland willbegin next month.
Read Top Stories
Minister of State said that all territories where Pakistani citizens maystash their funds are in FBR’s focus.
Hammad Azhar said that upon receipt of actionable tax information aboutPakistani tax-resident persons, if the funds remitted out are found to beunexplained, tax demand could be raised that is recoverable against theassets located in Switzerland under the Multilateral Convention on MutualAdministrative Assistance in Tax Matters.
