ISLAMABAD: Federal Finance Minister Ishaq Dar Monday reviewed various matters of the Federal Board of Revenue (FBR).
FBR Chairman Nisar Muhammad Khan briefed the meeting on progress of negotiations on the issue of input tax adjustment with the provinces. He also apprised the meeting about the bilateral agreement on avoidance of double taxation with Switzerland as well as multilateral convention on mutual administrative assistance on tax matters with the 34-member international body ie Organization for Economic Cooperation and Development.
Finance minister appreciated the work done by the FBRon above matters and desired that the federal cabinet be briefed about both the Conventions/Agreements.
Pakistan has recently achieved a breakthrough that would help the FBR in reopening different clauses with Swiss authorities under avoidance of double taxation agreement.
After the revised avoidance of double taxation agreement, the government would retrieve money of around $200 billion stashed into Swiss bank accounts.
