FBR signs MoU with HMRC to achieve tax reforms agenda

ISLAMABAD: The Federal Board of Revenue (FBR) and His Majesty’s Revenue and Customs of the United Kingdom of Great Britain and Northern Ireland (HMRC) on Wednesday signed a Memorandum of Understanding (MoU) to work together on the capacity building programmes to assist Pakistan in achieving its tax reforms agenda.

The FBR and HMRC are partnering to work towards two strategic tax reforms objectives-data utilisation and processes for international tax components and improved institutional capacity to implement strategic plans and reforms agenda in the areas which include, but are not limited to compliance risk management, AML functions, information and data.

The FBR is also collaborating with the HMRC and OECD under the initiative of Tax Inspectors Without Borders (TIWB) for capacity building of the FBR officers. Under this initiative, the HMRC experts will deliver training to the FBR officers in the areas of tax/financial investigations involving tax fraud, money laundering and prosecution.

Speaking on the occasion, British acting High Commissioner Andrew Dalgleish said the partnership between HMRC and FBR through Revenue Mobilisation, Investment and Trade (REMIT) programme is built on past successes on international taxation, such as automatic exchange of information between the tax jurisdictions along with new areas of collaboration. The UK is proud to be supporting Pakistan’s efforts and looks forward to the shared benefits it can bring to both the economies, he added.

FBR Chairman Asim Ahmad appreciated the growing collaboration between the FBR and HMRC and called for cooperation in the area of developing expertise in data analysis and how data could be used to broaden the tax base.

He said that he is looking forward to building cooperation over the next two years to enable the FBR to develop in-house capabilities in these areas.