FBR to Access Bank Accounts, Aiming to Stop Tax Evasion

Pakistan-(Special-Correspondent/Web Desk) – In a strong move against tax evasion and money laundering, the government has approved direct access for the Federal Board of Revenue (FBR) to taxpayers’ bank accounts. This step will help authorities track undeclared income, suspicious transactions, and illegal money flows more effectively.

A new integrated information-sharing system between commercial banks and the FBR will enable real-time monitoring of accounts flagged as high-risk. Swift action will be taken against suspicious financial activity, ensuring that fraudulent transactions are detected and stopped before they can cause further damage.

Pakistan establishes diplomatic relations with Micronesia , Visa free for Pakistanis

Under the Finance Bill 2025, commercial banks will be legally required to share consolidated account data with the FBR. This will include details of accounts held in multiple banks, allowing tax authorities to cross-check declared income with actual financial activity. If large, unexplained transactions are found, or discrepancies appear between bank records and tax returns, legal action will be mandatory. The FBR has assured that all shared information will remain confidential and be used only for tax enforcement.

A high-level committee—featuring officials from the Ministry of Finance, the FBR, and the State Bank of Pakistan—has been set up to design the legal framework for the system. Once implemented, the network will also connect with the Securities and Exchange Commission of Pakistan (SECP), private banks, and licensed currency exchange companies. This coordinated effort will ensure that no suspicious transfer escapes regulatory oversight.

The interlinked database will track large transactions, reveal beneficial ownership, and curb illicit financial flows. According to official sources, this initiative also supports Pakistan’s commitments to the International Monetary Fund (IMF) by strengthening anti-money laundering measures and increasing financial transparency.