Pakistan In Focus - Government to dissolve transfer pricing directorate.

The federal government, in its supplementary finance bill, has recommended the withdrawal of legislation for establishing the Directorate General of Transfer Pricing. The directorate was being set up to scrutinise master files and other records of multinational companies and enterprises with turnover exceeding Rs100 million and investigate billions of rupees worth of black money stashed abroad. After the approval of the Second Supplementary Finance Bill 2019 by parliament, the Directorate General of Transfer Pricing would be dissolved. However, Federal Board of Revenue (FBR) spokesperson and Member Inland Revenue Atiq Sarwar said the...