Asim Ahmad, chairman of the Federal Board of Revenue, congratulated on Friday all the government agencies, including the appropriate personnel of the Internal Revenue Service and Pakistan Customs, for their hard efforts to complete the Financial Action Task Force (FATF) measures.
The chairman reaffirmed the FBR’s determination and resolve to continue implementing the anti-money laundering and combating the funding of terrorism framework in the sectors it oversees.
The FBR statement said, “Like many other government agencies, FBR has played a crucial role in completing the FATF activities connected to DNFBPs, cash smuggling, investigating tax crimes for money laundering, and seizing the profits of tax crimes. At least eight of the FATF action plans’ 34 measures have been dealt with directly by FBR, which has led the implementation process.
FBR has issued AML/CFT regulations, conducted extensive outreach to educate DNFBPs, established a dedicated IT-based DNFBP Management System, launched a customized mobile app for registrations and screening, conducted a large number of onsite inspections, and imposed a wide range of penalties for noncompliance, according to the statement.
In addition, it was said that FBR Customs has strengthened cross-border restrictions and created a comprehensive framework to prevent cash smuggling in all conceivable ways.
In addition, the FBR has conducted a substantial number of investigations into money laundering in relation to tax offenses and made significant confiscations in this respect.