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IMF Demand: FBR orders Banks to Share Civil Servants’ Asset Declarations

FBR surpasses Q1 tax revenue target: collects Rs2.04tr
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February 03, 2023 (MLN): The Federal Board of Revenue has issued a notification, SRO 80(l)12023, ordering banks to share the declaration of assets of civil servants.

The rules are called the "Sharing of Declaration of Assets of Civil Servants Rules, 2023."

The rules apply only to civil servants in BS 17-22 and the information sharing is for limited purposes.

The FBR will share a simplified version of the declaration with the banks.

The banks must use a secured and single authorized email address for communication and shall communicate the credentials of a maximum of four Focal Persons to the FBR.

The banks must also maintain secrecy of the information and provide bi-annual feedback on the use of the information received.

The FBR will have a dedicated CDD desk assigned to an authorized officer to deal with the information requests from the banks.

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Posted on: 2023-02-03T17:57:41+05:00