SBP to Establish Centralised Bank Data Repository Under New Tax Law Amendment
The State Bank of Pakistan will establish a secure centralised banking data repository under amendments to the Income Tax Ordinance, with transactions above Rs100 million subject to automated tax-data cross-matching.
FBR Requires Banks and EMIs to Upload Rs100 Million Transactions to Central Data Hub
FBR has directed banks and Electronic Money Institutions to electronically upload information on deposits or withdrawals exceeding Rs100 million to the Central Data Hub for automated tax and banking data cross-matching.