ISLAMABAD: The Organisation for Economic Co-operation and Development’s (OECD) assessment team appreciated Pakistan’s efforts in streamlining legal and administrative framework in line with the standard of Exhcange of Information during their visit to the Federal Board of Revenue’s (FBR) headquarters.
According to FBR, the Directorate General of International Taxes of FBR received the OECD Assessment Team at FBR Headquarters in Islamabad.
OECD is an intergovernmental organisation with 38 member countries, founded in 1961 to stimulate economic progress and world trade. It has a Development Assistance Committee of 24 of its countries, World Bank, IMF and UNDP as observers, who scrutinized its peers within the Committee. Five different member countries are peer reviewed each year. The aim is to assess the extent to which the development policies, strategies and activities of the reviewed country meet the standards set by the DAC. As a member of Global Forum, Pakistan is also committed to undergo these reviews.
During the on-site visit, the Assessment Team held meetings with different stakeholders of the review including Securities and Exchange Commission of Pakistan, State Bank of Pakistan, Financial Monitoring Unit and Trust authorities under Trust Act, 2020.