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Swiss banks

Switzerland never offered to return assets of Pakistanis in Swiss banks: FBR

ISLAMABAD: Federal Board of Revenue (FBR) says that Switzerland never, at any time, offered to return even a single dollar of Pakistanis deposited in Swiss accounts. In a statement, it said there was a misconception being caused by a segment of print and electronic media regarding Switzerland offering to return $200 billion, in 2014, under an Avoidance of Double Taxation Agreement (ADTA) with Pakistan. It clarified that ADTAs were not meant for retrieval of assets. The primary purpose of ADTAs was elimination of double…

Switzerland consents to give details of Pakistani accounts in Swiss banks: Dar

ISLAMABAD: Swiss authorities have agreed to provide information about Pakistani accounts in Swiss banks, Finance Minister Ishaq Dar said in a policy statement in the National Assembly on Wednesday, ARY News reported. Swiss authorities have consented to sign an agreement on our conditions, Dar said in a statement on the floor of the lower house. The two sides will sign the agreement on March 21st. Several meetings were held between the two sides and now the Swiss Authorities have invited Pakistan to sign the…