In this regard, FBR has issued. SRO 80(I)/2022 01 February 2023 to notify the rules known as “Notification of Civil Servant Rules, 2023”.
According to the FBR, the rules for sharing information with banking companies specified under sub-section (7) of section 2 of the Income Tax Ordinance, 2001 will apply. However, these rules will apply for the limited purpose of information sharing. Respect for Government Servants in BS-17 to BS-22.
The FBR further said that it will share with the State Bank of Pakistan (SBP) a simplified or abbreviated version of the declaration based on the agreed fields, which a government servant can file in his electronic declaration with the FBR. what was i
Banks will be required to obtain the information of government employees in a prescribed manner.
However, before generating a request for Customer Due Diligence (CDD) information from FBR, banks have to take the following steps.
(a) the Bank shall determine in writing the reasons for which the CDD requires access to the information from the FBR (Bank’s Decision);
(b) the Bank shall obtain an express written consent from the Government servant about whom the Bank intends to access information from the FBR; And
(c) the Bank shall obtain from the Government servant a certificate in accordance with the prescribed format signed by the person declaring that he is a Government servant of BS-17 and above, his full name, Along with designation, employee number and all other details. which are written in the format
The focal person of the bank will send the authorized email to FBR to provide the information and follow the procedure below.
(a) send a scanned copy of the decision of the Bank as mentioned in clause (a) of sub-rule (l) of rule 5;
(b) send a scanned copy of the express written consent referred to in clause (b) of sub-rule (1) of rule 5; And
(c) send a scanned copy of the certificate prescribed under clause (c) of sub-rule (l) of rule 5;
FBR shall provide simplified or concise information within five working days through authorized e-mail, or may refuse if information is not available or not provided for any reason. In case of dispute, decision of FBR as custodian of information shall prevail.
The FBR will have a dedicated banks CDD desk which will assign an authorized officer who will be assisted by designated officials to deal with requests for information from banks.
FBR may use other secure electronic access and transmission methods available from time to time such as a dedicated portal page.
Obligations of banks under these rules are:
1) The Bank shall comply with sub-section (7) of section 216 of the Ordinance in respect of information received from FBR.
(2) the Bank’s use of the information received by the Bank, as well as the results of the CDD regarding the success of new accounts opened and how the information helps the Bank build its client relationship; Will provide bi-annual feedback. Case-wise feedback will be provided on six-month information requests made by the Bank by 31st July and 31st January every year.
(3) The bank shall retain the hard copies of the documents as mentioned in sub-rule (1) of rule 5 and submit them to the State Bank of Pakistan (SBP) for the purpose of compliance audit of the measures required under the sub-rule. will (l) of rule 5.
(4) Compliance audit shall be conducted by State Bank once in a year unless specifically asked by FBR on case to case basis.
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