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Reporting of financial transaction data by banking companies and financial institutions
(1) Notwithstanding anything contained in the Banking Companies Ordinance, 1962 (LVII of 1962), the State Bank of Pakistan Act, 1956 (XXXIII of 1956), the Protection of Economic Reforms Act, 1992 (XII of 1992), or any other law for the time being in force, every banking company and Electronic Money Institutions (EMIs) shall electronically upload the information, as mentioned in sub-section (2), to the Central Data Hub, for algorithmic cross-matching of tax and bank information.
(2) Information in respect of an account holders having deposits or withdrawals exceeding one hundred million Rupees during a reporting period in any or all of the bank accounts maintained by the account holder, specifying particulars of deposits or withdrawals, including opening and closing balances, peak credits, and total credits during the reporting period.
(3) This information as shared above shall be digitally processed and shall not be visible to any of the Income Tax Authorities during this cross-matching process.
(4) In case of gross mismatch in the information in respect of an account holder, the digital system of the Board shall feed the information so required into the Compliance Risk Management (CRM) system of the Board, and further proceedings shall be conducted by the National faceless centre as provided in this Ordinance.
(5) The Board shall ensure that such information, shared by the banks, remains strictly confidential and in no case is disclosed or misused in a manner to disregard the confidentiality measures provided in the statutes and rules governing commercial banking, save as provided in this section.
(6) In this section—
(a) reporting period means, in respect of a Financial Year, a period of six months, starting from:
(i) 1st day of July and ending on 31st day of December; and (ii) 1st day of January and ending on 30th day of June,;
(b) specified date means the—
(i) 31st day of January in case of reporting period ending on 31st day of December; and (ii) 31st day of July in case of reporting period ending on 30th day of June;
(c) accounts means bank accounts maintained by a person including current deposits, call deposits, saving deposits, fix deposits, term deposits, or any other such deposits by whatever name called;
(d) peak credits means the highest credit balance in all the bank accounts of the account holder on any given date during the reporting period;
(e) Central Data Hub means a virtual repository of data and information maintained by the Board through PRAL; and (f) compliance risk management (CRM) means a computer programme for identification and communication of compliance risks, including understatement of sales, overstatement of expenses, nonreporting or under-reporting of incomes, assets, and transactions.
(2) Information in respect of an account holders having deposits or withdrawals exceeding one hundred million Rupees during a reporting period in any or all of the bank accounts maintained by the account holder, specifying particulars of deposits or withdrawals, including opening and closing balances, peak credits, and total credits during the reporting period.
(3) This information as shared above shall be digitally processed and shall not be visible to any of the Income Tax Authorities during this cross-matching process.
(4) In case of gross mismatch in the information in respect of an account holder, the digital system of the Board shall feed the information so required into the Compliance Risk Management (CRM) system of the Board, and further proceedings shall be conducted by the National faceless centre as provided in this Ordinance.
(5) The Board shall ensure that such information, shared by the banks, remains strictly confidential and in no case is disclosed or misused in a manner to disregard the confidentiality measures provided in the statutes and rules governing commercial banking, save as provided in this section.
(6) In this section—
(a) reporting period means, in respect of a Financial Year, a period of six months, starting from:
(i) 1st day of July and ending on 31st day of December; and (ii) 1st day of January and ending on 30th day of June,;
(b) specified date means the—
(i) 31st day of January in case of reporting period ending on 31st day of December; and (ii) 31st day of July in case of reporting period ending on 30th day of June;
(c) accounts means bank accounts maintained by a person including current deposits, call deposits, saving deposits, fix deposits, term deposits, or any other such deposits by whatever name called;
(d) peak credits means the highest credit balance in all the bank accounts of the account holder on any given date during the reporting period;
(e) Central Data Hub means a virtual repository of data and information maintained by the Board through PRAL; and (f) compliance risk management (CRM) means a computer programme for identification and communication of compliance risks, including understatement of sales, overstatement of expenses, nonreporting or under-reporting of incomes, assets, and transactions.
Amendment history (9)
- The word “one” substituted by the Finance Act, 2018.
- The expressions “exceeding [ ] five hundred thousand rupees” omitted through Finance Act, 2020
- Words “for non-filers” omitted through Finance Act, 2019.
- Section 165AB inserted by the Finance Act, 2026.
- Inserted by the Finance Act, 2015.
- Inserted by the Finance Act, 2017.
- The word and figure “Subject to section 216, all” substituted by the Finance Act, 2016.
- Added by the Finance Act, 2017
- Section 165C inserted by the Finance Act, 2025.
Amendment notes captured from the source page(s); they may include changes to neighbouring provisions.
Source FBR PDF page 353
Unofficial reference, compiled from the FBR’s consolidated Income Tax Ordinance 2001 (amended up to 30 June 2026). Provided for general information only — not an official FBR publication and not legal or tax advice. Always verify against the official FBR text before relying on it for filing or any decision.