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ISLAMABAD: In a significant move to increase financial transparency across the public sector, the Pakistan federal government has made asset declarations compulsory for all civil servants, extending the requirement to include additional categories of officials. The change was introduced through the income tax notification Statutory Regulatory Order 2263, issued on Thursday, which amends the Sharing of Declaration of Assets of Civil Servants Rules, 2023. The updated regulation requires government employees to file annual statements of their assets and liabilities in accordance with the revised provisions. The amendment expands the requirement to submit asset declarations to officers across federal and provincial governments, autonomous bodies, and state-owned corporations, covering all employees in pay grades 17 and above, except those specifically exempted under sub-clause (iv) of clause (n) of section 5 of the National Accountability Ordinance, 1999. <img src="https://paktv-assets-7d41fab8.s3.eu-west-2.amazonaws.com/08bfe796-b5a5-45fc-ba0c-5d20a881f2f4.png" style="width: 300px;" class="fr-fic fr-dib fr-fil">&nbsp;Income tax notification SRO2263 (FBR&#39;s official website) The 2023 rules outlined the procedure for collecting and sharing asset declarations, including designated formats, responsible departments, and channels for transmitting information. SRO 2263 updates these rules, bringing all covered employees under the same framework for asset reporting. Under the amended rules, departments are responsible for compiling, updating, and forwarding these declarations to the relevant oversight and tax authorities. The notification serves as the legal instrument enforcing the amended requirements, which take effect immediately upon issuance. While the government has not yet released additional operational guidelines, SRO 2263 imposes an obligation on all applicable employees to submit their declarations. The amended system operates under the existing setup established by the Federal Board of Revenue and the connected departments tasked with receiving and processing asset information.

Taxation

The federal government has issued SRO2263, making asset declarations mandatory for all public employees in pay grades 17 and above, expanding transparency across federal, provincial, and state-owned bodies.

Articles tagged with "Federal government"

Pakistan makes asset declarations mandatory for senior government officials

Pakistan makes asset declarations mandatory for senior government officials