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PR No.23 FINANCE MINISTER CHAIRS MEETING ON MATTERS PERTAINING TO FBR Islamabad

Minister for Finance, Revenue, Economic Affairs, Statistics and Privatization, Senator Mohammad Ishaq Dar, chaired a meeting on matters pertaining to the Federal Board of Revenue (FBR) here at the Ministry of Finance today.

Mr. Haroon Akhtar Khan, Special Assistant to Prime Minister on Revenue, briefed the Finance Minister on the performance of FBR. He apprised the Finance Minister of the fact that FBR is actively working on the implementation of the remaining steps under the OECD Multilateral Convention on Mutual Administrative Assistance in Tax Matters, which Pakistan became a signatory to in September 2016. He informed the Minister that all formalities to sign the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (MCAA), which is one of the remaining steps to be implemented under the said OECD Multilateral Convention, are almost complete.

The Finance Minister appreciated the efforts made by FBR and urged that all necessary efforts be made to meet the tax revenue target that was set at the beginning of the current fiscal year. He saidthat strong tax revenue collections will play an important role in achieving higher, sustainable and inclusive economic growth. The Finance Minister said that accession to the OECD Multilateral Convention on Mutual Administrative Assistance in Tax Matters has enabled Pakistan to benefit from automatic exchange of information for tax purposes with other countries that are signatories to the Convention.

The meeting was also attended by senior officials of FBR and the Ministry of Finance.

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