Pakistan, Austria ink OECD protocol model for exchange of data, information

ISLAMABAD: Pakistan and Austria on Tuesday signed Organization for Economic Cooperation and Development (OECD) model, aimed at bringing transparency and exchange of data and information between the two countries.

Agreement to this effect was signed here between Chairman FBR Tariq Bajwa and Ambassador of Austria to Pakistan Dr. Brigitta Blaha at Federal Board of Revenue (FBR).

Finance Minister Muhammad Ishaq Dar witnessed the signing ceremony. Advisor Finance Ministry Rana Asad Amin and senior officials of the Revenue Department were also present on the occasion.

Speaking on the occasion, Finance Minister Muhammad Ishaq Dar said that he extended congratulations to Chairman FBR and Ambassador Dr. Brigitta Blaha for signing this bilateral OECD model protocol agreement.

“We will also sign similar protocol multilateral agreements for sharing of data with other countries”, he added.

The Finance Minister also mentioned the interest of Austrian side in the hydropower projects investment in Pakistan

“If they will invest in this sector we will welcome them”, he added.

He further said this was a model agreement aimed at bringing transparency in taxation affairs and will ensure free exchange of information between the Pakistan and Austria.

The Chairman FBR said that present government has resolved to ensure transparency in fiscal and monetary affairs of the government.

“We have worked on this aspect and signing of this agreement was the manifestation of this effort”, he said.

The Ambassador of Austria in her remarks said that this agreement would help both the countries in further bringing together and strengthening their relations.