According to Raja Chandrasekharan, the president of FTAF
, the union has also demanded that the handmade firecracker industry must be exempted from 18 per cent GST slab.
'Now the talks between Pakistan and FTAF
are underway on the future plan of action.
Last July, the FTAF
removed the Philippines from its "dark gray" list of tax havens, officially referred to as high-risk and uncooperative jurisdictions.
Government institutions have also formed networks of their own, ranging from the Basle Committee of Bankers and the Egmont Group to FTAF
, Interpol and informal ties with law enforcement agencies to legal network of laws.
He further said recommendations of Financial Action Task Force (FTAF
) are being reviewed to tackle money laundering and terrorism financing.
Rumours regarding adding Pakistan to the watch list of FTAF
have adversely affected the economy.
They were speaking at a seminar on FTAF
: new sanctions on Pakistan and effects organized by Al-Baseera in collaboration with National Press Club (NPC) here at NPC.
To a question, he said Pakistan's inclusion in grey list of FTAF
was a political decision.