皇冠体育app

皇冠体育app UK has renewed its support to strengthening Pakistan鈥檚 tax system, following the signing of a Memorandum of Understanding between the Federal Board of Revenue (FBR) and the UK鈥檚 revenue authority, Her Majesty鈥檚 Revenue & Customs (HMRC) on 17th October.

This Memorandum will help push up Pakistan鈥檚 tax collection by using data more smartly to target high net worth individuals who remain outside the tax net or underreport in tax documents.

皇冠体育app Memorandum includes support to FBR to ensure that multinational companies pay the right amount of tax and to participate in an international effort to reduce tax evasion. HMRC experts will provide advice to FBR on communicate with the public about their tax paying obligations. 皇冠体育app Memorandum also includes support to streamline customs procedures.

皇冠体育app FBR-HMRC Memorandum is part of wider support for Pakistan鈥檚 tax reform provided by UK through the Department for International Development (DFID). DFID鈥檚 support on tax also includes technical assistance through the World Bank鈥檚 Trust Fund for Accelerating Growth and Reforms.

At the occasion of MOU signing, Mohammad Jehanzeb Khan, Chairman of the FBR, said:

U.K Pakistan partnership is based on shared values, mutual trust and respect. U.K鈥檚 support in achieving Government鈥檚 goal of optimal tax collection is critical to their agenda of citizen centric public sector service delivery. 皇冠体育app MoU would help Pakistan move faster in the right direction to achieve its aspirations and objectives.

Joanna Reid, Head of DFID Pakistan, said:

皇冠体育app UK is committed to support Pakistan鈥檚 resolve in ensuring that tax evasion is reduced. I believe that it is only by improving the tax revenue collection that Pakistan can invest in vital public services and stabilise its economy.

I鈥檓 confident that this new phase of collaboration with the FBR will lead towards transparency and efficiency in the tax revenue collection system in Pakistan, and will bring significant benefits to the economy of the country.

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