ISLAMABAD: In a new development, the Federal Board of Revenue (FBR) newlyinstalled computer software has attained the capability to detect theautomatic exchange of information about tax evaders in Pakistan with theOrganisation for Economic Cooperation and Development (OECD).

The Prime Minister’s task force for bringing home the proceeds ofcorruption and non-taxed income has been told to finalize itsrecommendations by early September.

“The automatic exchange of information will become operational fromSeptember 2018 onward, so it can become a tool for bringing back ill-gottenmoney from abroad.

FBR spokesman Dr Muhammad Iqbal said the Pakistan Revenue Automation Ltdand the FBR operations team have been assigned to supervise the use of theOECD software programme, so as to ensure secrecy and the smooth automatedexchange of information from September 1.

“We cannot commit as to when others will exchange information on automaticbasis, as they can start anytime onward from September 2018.

The official said the Pakistani and Swiss authorities signed a revisedavoidance of double taxation agreement during the tenure of lastgovernment, but it is yet to be ratified by the Swiss Parliament.