s. 165B

Furnishing of information by financial institutions including banks

Procedure

(1) Notwithstanding anything contained in any law for the time being in force including but not limited to the Banking Companies Ordinance, 1962 (LVII of 1962), the Protection of Economic Reforms Act,1992 (XII of 1992), the Foreign Exchange Regulation Act, 1947 (VII of1947) and any regulations made under the State Bank of Pakistan Act,1956 (XXXIII of 1956) on the subject, every financial institution shall make arrangements to provide information regarding non-resident or any other reportable persons to the Board in the prescribed form and manner for the purpose of automatic exchange of information under bilateral agreement or multilateral convention.
(2) All information received under this section shall be used only for tax and related purposes and kept confidential.
(3) For the purpose of this section, the terms "reportable person" and "financial institution" shall have the meaning as provided in Chapter XIIA of the Income Tax Rules, 2002.

Amendment history (5)

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 355

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.