ISLAMABAD: Several officials within the Federal Board of Revenue (FBR) have not fulfilled the mandatory requirement to declare their assets, a crucial condition tied to reforms agreed upon with the International Monetary Fund (IMF). The FBR recently completed a thorough review of asset declarations, uncovering non-compliance among numerous officers who failed to provide details of their assets and liabilities.
In response, the tax authority has issued formal instructions to all members, chief commissioners, and director generals, emphasizing the need for full compliance. Officials are now required to submit comprehensive records of their assets spanning the last 10 years of their service.
In a final notice, the FBR highlighted that despite earlier directives, several officers have yet to comply with the asset declaration mandate. The board has stressed that a consolidated report covering all officers’ asset and liability declarations must be forwarded to the Establishment Division.
In a significant development, the FBR has set a strict deadline of April 24, 2026, for the submission of all outstanding asset declarations up to the fiscal year ending June 30, 2025. The authority warned that failure to meet this deadline will lead to the suspension of performance allowances without further warning.
Earlier commitments to the IMF included Pakistan’s pledge to implement key anti-corruption reforms, notably the public disclosure of asset declarations by civil servants. The agreement reached with the IMF under the $7 billion Extended Fund Facility (EFF) program involves completing the third review and strengthening institutional frameworks to combat corruption.
Notably, the publication of asset declarations for senior federal civil servants is targeted for completion by December 2026. Furthermore, the FBR intends to launch a digital platform by June 2026 to streamline the submission process, enhancing transparency and ensuring better compliance with the asset declaration requirements.
