ISLAMABAD - Finance Minister Senator Ishaq Dar has chaired a meeting on matters pertaining to the Federal Board of Revenue (FBR) here at the Ministry of Finance. Special Assistant to Prime Minister on Revenue Haroon Akhtar Khan briefed the minister on the performance of FBR. He apprised the minister that FBR is actively working on the implementation of the remaining steps under the OECD Multilateral Convention on Mutual Administrative Assistance in Tax Matters, to which Pakistan became a signatory 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.
Dar 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 said that strong tax revenue collections will play an important role in achieving higher, sustainable and inclusive economic growth.
The 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.