FBR has been awarded ISO-27001 Certification by Resource Inspection Canada Incorporated in respect of Data Center, AEOI center and AEOI Zones A delegation of HMRC, including the security expert, visited FBR in July, 2017 to assist in implementation of AEOI Standard. Pakistan has signed the CRS- MCAA in June, 2017 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 in May, 2017.


FBR Receives ISO 27001:2013 Certification for Automatic Exchange of Financial Accounts Information

The Federal Board of Revenue has formally been awarded ISO/IEC 27001 Certification by Resource International Canada Incorporated, the accredited body for such certification. The Certificate pertains to the Secure Perimeter established by FBR for automatic exchange of financial accounts information under the OECD’s Multilateral Competent Authority Agreement on Automatic Exchange of Financial Accounts Information (MCAA). The secure Perimeter comprises of Automatic Exchange of Information Centre, Data Centre and the Automatic Exchange of Information Zones established in various Large Taxpayer Units and Regional Tax Offices. The Secure Perimeter been established by FBR for receiving and processing of the data and information on the financial accounts of Pakistani residents from other jurisdictions under the MCAA. The ISO 27001 Certification is a way forward to ensure that the data shall be secured and its confidentiality maintained. The ISO/IEC 27001:2013 is an information security standard which specifies a management system that is intended to bring information security under management control and gives specific requirements. With the award of ISO 27001:2013 Certification, FBR has fostered its Information Security Management System (ISMS) for various OECD initiatives, including the automatic exchange of information on financial accounts.


The 13th AEOI Group Meeting in Madrid, Spain

The Head of Global Forum Secretariat invited FBR to attend its AEOI Group Meeting held in Madrid, Spain from 27th to 29th September, 2017 and to make a presentation to the participants on the progress made by Pakistan in implementing the Standards for AEOI and FBR’s secure perimeter approach to the safeguarding of AEOI data.
The Meeting by the Chair of the Global Forum, followed by discussions and presentations on recent developments on Delivery of the commitments to implement the AEOI standard, update on the Multilateral Convention , CRS-MCAA and Intended exchange partners process. In the latter half of the day, Pakistan was allotted time for the presentation. Mr. Mohammad Iqbal, Chief (International Taxes) and Ms. Rabia Yaser Durrani (Secretary, Exchange of Information) attended the meeting on the scheduled dates. Mr. Mohammad Iqbal made a comprehensive presentation on Pakistan Secure Perimeter Model. The establishment of six AEOI Zones and the jurisdiction and functioning of the Zones were explained in the presentation. A Questions and Answers Session was held after the presentation during which different questions were raised from the participants about the working of the Secure Perimeter Model and Pakistan’s quick progress made in putting all the building blocks required for AEOI.
The agenda of the Meeting for next two days included discussions on the Staged Approach for implementation of AEOI, presentation of the Note on Jurisdictions of Relevance, the Global Forum’s Interim response to Confidentiality breaches etc.
The Meeting ended on 29th September, 2017 with closing remarks by the Commissioner of the Spanish Tax Administration and note of thanks to all participants.