The Federal Board of Revenue (FBR) processed 30 requests from international tax jurisdictions and sought data in 17 cases from foreign countries during the fiscal year 2023-24 under the exchange of information (EOI) arrangement aimed at combating tax evasion.
An FBR report detailed the agency’s international efforts to strengthen domestic tax compliance by leveraging global information networks. The initiative focuses on addressing tax evasion by individuals and corporations with offshore accounts through data-sharing agreements.
According to the report, 30 inward EOI requests were processed, while 17 outward EOIRs were sent to global tax jurisdictions.
Under the country-by-country reporting system, multinational corporations are required to accurately report financial activities across jurisdictions, aligning with international transparency standards.
The FBR shared 41 records of “outward transmission of local filing,” with 1,426,252 records sent for local transactions and 579,748 records received for inward assignment of reciprocal filing. These measures aim to address profit shifting and base erosion, critical for improving corporate tax compliance.
The FBR emphasized its progress in implementing automatic information exchange systems under OECD guidelines, enabling access to data on Pakistani taxpayers holding assets abroad.
