Monday , November 12 2018
Breaking News
Home / Business / Govt decides to form tax force to stop money laundering
Govt decides to form tax force to stop money laundering

Govt decides to form tax force to stop money laundering

ISLAMABAD: With the aim to stop money laundering, the federal government has decided to form a tax force after the final approval of Prime Minister Imran Khan.

According to sources, offices for the task force will be established at airports and in all provinces. The federal interior secretary is expected to head the taskforce with provincial chief secretaries heading it on the provincial level. Members will also include officials from intelligence agencies, NAB, ANF and FIA.

The decision to form the task force is part recommendations made by the Financial Action Task Force (FATF). In June, the FATF said Pakistan had made “a high-level political commitment” to work with the global watchdog and Asia/Pacific Group on Money Laundering (APG) to strengthen its anti-money laundering and combating the financing of terrorism regime.

Pakistan was formally added to the grey list of countries involved in providing monetary assistance to terrorism and related causes after a June meeting of FATF in Paris.

FATF, a global body that combats terror financing and money laundering, had taken the decision to place Pakistan on its grey list during a plenary meeting in February this year. The country was also included in the list from 2012 to 2015.