An appellate bench of the Securities and Exchange Commission of Pakistan (SECP) has reduced penalty from Rs1,000,000 to Rs500,000 on securities brokers for violating regulatory framework regarding financing and extending credit.
Exporters have expressed serious concern over prolonged delay in payment of sales tax refunds under the newly introduced system, "Faster", of the Federal Board of Revenue (FBR). According to the FBR's data, out of total refund claims of Rs24.281 billion f
An appellate bench of the Securities and Exchange Commission of Pakistan (SECP) has conveyed to the brokers' community that front running is akin to insider trading and a criminal offence in the stock market.
The Securities and Exchange Commission of Pakistan (SECP) had proposed to abolish procedure for appointment of valuators for valuation of properties by registered valuators. The SECP has proposed amendments in the Companies Act 2017 in this regard.
The Securities and Exchange Commission of Pakistan (SECP) Thursday issued draft of the Companies (Amendment) Ordinance, 2020, containing new measures for greater ease of doing business for corporate sector.
All intelligence/law enforcement agencies including customs would conduct intelligence-based operations to check smuggling of huge currency and gold cases at land border stations, airports and Pak-Afghan border following information received by Border Tas
The Federal Board of Revenue (FBR) Tuesday informed International Monetary Fund (IMF) that the tax machinery would be able to collect around Rs 4.5 trillion during 2019-20 keeping in view current economic situation and without taking additional revenue me
The Secur-ities and Exchange Commission of Pakistan (SECP) and the Federal Board of Revenue (FBR) are jointly working out major changes in tax laws to introduce multifaceted reforms for the development of capital market, non-banking finance companies and
The petroleum products, food items and power sector remained three top revenue spinners of Inland Revenue Taxes (income tax, sales tax and Federal Excise Duty) with payment of Rs 315 billion, Rs 76.5 billion and Rs 73 billion, respectively, in the nationa
The Federal Board of Revenue (FBR) has received proposals to restore facility of one duty-free handset in a calendar year under gift/personal baggage scheme and reduce tax slabs on all categories of mobile phones brought into the country to encourage pene
Federal Board of Revenue (FBR) Monday categorically declared that processing of the case may take time but it is certain that all refund cases are audited and subjected to scrutiny. According to the FBR's response to the allegations of issuance of refunds
The Securities and Exchange Commission of Pakistan (SECP) on Monday reduced minimum net worth requirement for the Trading & Self-Clearing (TSC) brokers from Rs 150 million to Rs 75 million under the plan to provide maximum facilitation to market participa
In a landmark judgment, Appellate Tribunal Inland Revenue (ATIR) has reprimanded Directorate of Intelligence and Investigation (I&I) Inland Revenue (IR) that the DG I&I has become a supra constitutional body and acts in an unbridled manner.
In a major policy shift, the government is likely to reduce Regulatory Duties (RDs) and Additional Customs Duties (ACDs) on several items at the import stage through amendments to the tax laws in February 2020. Sources told Business Recorder here o
The Federal Board of Revenue (FBR) has provisionally collected Rs 2,404 billion during July-January (2019-20) against the downward revised target of Rs 2,622 billion, reflecting a shortfall of Rs 218 billion. According to the provisional figures compiled
An Appellate Bench of the Securities and Exchange Commission of Pakistan (SECP) Thursday conveyed to the stock market brokers that charging markups on continued debit balance of their clients is a violation of guidelines, dated July 3, 2013, issued by the