ALERT: FBR will have the Access to your Bank Accounts by the End of this Month

All commercial banks have agreed to share their client’s transaction data with the Federal Board of Revenue by the end of this month.

Banks are directed to provide both primary and advanced details of all the customers including name, CNIC, and permanent address, cash withdrawal above PKR 50,000, deposits above PKR 10 million in a month, and PKR 200,000 transactions through credit or debit cards in a month.

On November 27, 2019, FBR and the Pakistan Bankers Association (PBA) signed an agreement that allowed the tax department to access information of transactions made through the banking channels which would benefit FBR to indicate a huge number of potential taxpayers through the examination of data shared by the banks.

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Pak Revenue

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