The Federal Board of Revenue (FBR) has formally been awarded ISO/IEC 27001Certification by Resource International Canada Incorporated, the accredited body for such certification. According to the details, the certificate pertains to the Secure Perimeter established by FBR for automatic exchange of financial accounts information under the OECD's Multilateral Competent Authority Agreement on Automatic Exchange of Financial Accounts Information (MCAA).

The secure Perimeter comprises of Automatic Exchange of Information Centre, Data Centre and the Automatic Exchange of Information Zones established in various Large Taxpayer Units and Regional Tax Offices. The Secure Perimeter been established by FBR for receiving and processing of the data and information on the financial accounts of Pakistan I residents from other jurisdictions under the MCAA. The ISO 27001 Certification is a way forward to ensure that the data shall be secured and its confidentiality maintained. The ISO/IEC 27001:2013is an information security standard which specifies a management system that is intended to bring information security under management control and gives specific requirements. With the award of ISO 27001:2013 Certification, FBR has fostered its Information Security Management System (ISMS) for various OECD initiatives, including the automatic exchange of information on financial accounts.

Copyright Business Recorder, 2018