'Pakistan achieved important milestone in transparency, exchange of information'.

Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh said that Pakistan has achieved important milestones in transparency and exchange of information. Addressing the Plenary Meeting of the Global Forum on 'Transparency and Exchange of Information for Tax Purposes 2020', organized by OECD, the adviser appreciated the technical support extended by the Global Forum and the UK Government, which he said was instrumental in implementing the Common Reporting Standard (CRS). At present, Pakistan is one of the few developing countries among the early adopters of the CRS and began exchanging data with partner jurisdictions in less than 02 years, he added, according to press statement issued by the Finance Ministry. The Adviser outlined that Tax Transparency and Exchange of Information (EOI) are powerful tools to enhance tax compliance. 'Pakistan is firmly committed to fighting tax evasion and other illicit financial flows and need more international cooperation for cross-border assistance in tax recovery,' he...