Pakistan notifies financial institutions that it has finalized the CRS rules and that due diligence should begin on 1 July 2017

On 19 April 2017, the State Bank of Pakistan issued a Circular (Link) reminding financial institutions that Pakistan has signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters and that it has finalized the CRS Rules on 15 March 2017 (Link).  Finally, financial institutions were reminded that they should begin due diligence of customers as of 1 July 2017.

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