ISLAMABAD: Federal Board of Revenue (FBR) chairman Syed Shabbar Zaidi on Friday expressed gratitude to the Pakistan Banks Association (PBA) and presidents of all banks for showing willingness to withdraw pending litigation on furnishing of certain information.
“On behalf of FBR, I thank Pakistan Bank Association and Presidents of all the banks for agreeing to withdraw pending litigation on the matter of furnishing of certain information,” the FBR chief tweeted.
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“This positivity has been achieved by mutual consultation. A way forward of cooperation has opened,” he added.
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Banks have agreed to provide details of their account holders to the tax body.
The agreement reached this week will let the tax authorities to check flow of undocumented money through banking channels.
The agreement was reached at a meeting between Federal Bureau of Revenue (FBR) chairman Syed Shabbar Zaidi and chief executives of commercial banks on November 27 at the Large Taxpayers Unit (LTU) Karachi.
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