FBR and FMU To Combat Illicit Finance

Staff Report

FBR and the Financial Monitoring Unit (FMU) have joined hands to Enhance Coordination To Combat Illicit Finance.

Chairman Federal Board of Revenue Malik Amjed Zubair Tiwana emphasized the need for sustained collaboration between the Federal Board of Revenue (FBR) and the Financial Monitoring Unit (FMU) for the development of quality financial intelligence on tax evasion and its optimal utilization in investigations.

The Chairman said this while addressing the concluding ceremony of the FBR-FMU Joint Workshop on Financial Intelligence for Tax Evasion organized with the assistance of FCDO’s UPSCALE Programme in FBR headquarters on 27-28 January 2024.

The Chairman FBR congratulated the Directorate General of Intelligence and Investigation-Inland Revenue and the FMU for organizing the event and desired for further enhancement of this partnership to achieve the unanimous goal of combating illicit finance.

Mr. Tiwana also thanked Mr. Lewis Evans of the British High Commission, present at the occasion, for assisting in organizing the event.

Ms. Lubna Farooq, Director General of FMU, thanked FBR and FCDO and underscored the need for sustained coordination between FBR and FMU to enhance the knowledge base and promote mutual understanding for combating tax fraud and tax evasion.

This collaborative approach, she said, will enhance the effectiveness of investigations and contribute to a more robust and interconnected framework for combating financial crimes.

The workshop was also attended by the analysts of FMU and investigating officers of the Directorate General of Intelligence and Investigation-Inland Revenue. The workshop focused on identifying and understanding risk areas for financial intelligence on tax crimes.