In series:Global Forum on Transparency and Exchange of Information for Tax Purposes: Peer Reviewsview more titles
Published on July 26, 2016
The Phase 2 review rates Pakistan overall as largely compliant with the international standard. Pakistan’s legal framework ensures that ownership information, accounting and banking information is available and can be obtained in line with the standard. The main findings of the report relate to a room for improvement in supervision and enforcement of obligations ensuring availability of ownership and accounting information. Pakistan is also recommended to improve its response times to requests for exchange of information. The report further notes a potential ambiguity concerning rules regulating confidentiality of information exchanged under Pakistan’s agreements. Since the cut-off date of the review Pakistan has nevertheless taken steps aiming to address this issue. For further information on Pakistan’s legal and regulatory framework in the field of transparency and exchange of information and its implementation in practice please access the full report here.