A delegation of HMRC including the Security expert of HMRC visited FBR (HQ) Islamabad from 17th to 20th July, 2017 to assist in implementation of AEOI Standard. An OECD/ HMRC team comprising of mr. Donal Godfrey, Mr. Lloyd Garrichinho, and Mr. Jon Swerdlow visited Karachi for facilitation and education of the financial industry from 7th to 9th May, 2017. A team of OECD/ HMRC visited FBR(HQ) Islmabad from 16th- 18th January, 2017 to assist in implementing the Standard on AEOI and for orientation of the Financial sector. Seminar on AEOI Pilot Project for Non-Banking Sector Conducted at SECP Islamabad on 30th Dec, 2016. Seminar on AEOI Pilot Project for Banking Sector Conducted at SBP Karachi on 16 Nov,2016. Mr. Jon Swerdlow of HMRC visited FBR (HQ) Islamabad from 5th to 8th December, 2016. AEOI Pilot Project Approved by The Minister for Finance and Revenue, Pakistan, Mr. Mohammad Ishaq Dar and Pilot Project Team Notified.

AUTOMATIC EOI

This is bulk information which is shared on annual basis amongst the tax jurisdictions. Every state collects information from its financial institutions regarding non-resident account holders and such information is then forwarded to its respective jurisdiction. This is relatively new way of EOI and Global Forum is streamling the flow of this information for avoidance of fiscal, evasion and bringing to tax net the untaxed international source of income. On receipt of information, the same is forwarded to the respective tax offices. No reply is provided in the case of automatic EOI to the treaty partner. It is flow of information on both sides and from both sides. Proceed..


Member (IR Policy)
Dr. Muhammad Iqbal
Chief (International Taxes)
Mr. Mohammad Iqbal
Secretary (EOI)
Ms. Rabia Yaseer Durrani