05/10/22

INTERNATIONAL TAX: FBR signs MoU with HMRC to achieve tax reforms agenda.

As published on nation.com.pk, Wednesday 5 October, 2022.

The Federal Board of Revenue (FBR) of Pakistan and His Majesty’s Revenue and Customs of the United Kingdom of Great Britain and Northern Ireland (HMRC) signed a Memorandum of Understanding (MoU) to work together on capacity building programme(s) to assist Pakistan to achieve its tax reforms agenda.

The FBR and HMRC are partnering to work towards two strategic tax reforms objectives- data utilisation and processes for international tax components and improved institutional capacity to implement strategic plans and reform agenda in areas which include, but are not limited to compliance risk management, AML functions, Information and Data.

The FBR is also collaborating with HMRC and OECD under the initiative Tax Inspectors Without Borders (TIWB) for capacity building of FBR officers. Under this initiative, HMRC experts will deliver trainings to FBR officers in the areas of tax/financial investigations involving tax fraud, money laundering and prosecution.

Speaking on the occasion, British Acting High Commissioner Andrew Dalgleish said: “The HMRC and FBR partnership through the Revenue Mobilisation, Investment and Trade Programme (REMIT) builds on past successes on international taxation such as automatic exchange of information between tax jurisdictions along with new areas of collaboration. The UK is proud to be supporting Pakistan’s efforts and looks forward to the shared benefits it can bring to both our economies.” FBR Chairman Asim Ahmad thanked for the cooperation between FBR and HMRC and said while they appreciate the assistance provided, developing expertise in data analysis and how data can used to broaden the tax base is a considerable opportunity area to work upon. He added that he looks forward to the cooperation over the next two years which will enable FBR to build in-house capabilities in these areas.