ISLAMABAD- The government has decided to declare tax evasion as money laundering.

Sources disclosed that tax evasion would be declared money laundering through amendment in Anti-Money Laundering Act. Those found involved in tax evasion will be proceeded under money laundering laws. However, it has been resolved with IMF that Pakistan would identify those found involved in misusing amnesty schemes and investment schemes.

Finance ministry sources said action will be initiated against those found involved in misusing amnesty schemes and investment schemes. Government has also issued directives to Financial Monitoring Unit (FMU) to devise guidelines for all the financial institutions and Federal Board of Revenue (FBR) to trace out those involved in misusing amnesty schemes and investment schemes.