ISLAMABAD: Pakistan is going to enter an agreement with Switzerland for access to information about bank accounts, Ishaq Dar briefed the National Assembly on Wednesday.
Federal Minister for Finance briefed the National Assembly today over government’s policy statement in the matter.
Dar reported that Pakistan will officially enter the agreement on March 21, 2017. The Finance Minister said that the government had signed Multilateral Convention on Tax matters with Organisation for Economic Cooperation and Development last year on September 14.
However, exchange of information will begin in January 2018.
Dar informed the National Assembly that Pakistan is the 104th member of the organisation, Radio Pakistan reported.
Once the pact is enacted, it will be impossible to keep tax evasion money in countries that are its signatories.
The federal minister said that a number of meetings were convened in Switzerland in 2013 over the issue. The Swiss government demanded Islamabad to lessen taxes in order to have access to the information, he said.