The Securities and Exchange Commission of Pakistan (SECP) has made major changes in regulatory framework for non-banking finance company (NBFCs) and introduced the definition of "infrastructure finance company (IFC)."
The Federal Board of Revenue (FBR) has revised committee structure for issuance of advance ruling to foreign investors. The FBR has issued SRO 07(I)/2019 to propose amendments in the Income Tax Rules, 2002.
The newly created Directorate of Cross Border Currency Movement (CBCM) of the Federal Board of Revenue (FBR) has sought canine/cash dogs, scanners and face detectors at the entry and exit points of country for currency detection and deterrence at border a
Federal Board of Revenue (FBR) Member IR Policy Hamid Ateeq Sarwar on Wednesday said that the sales tax collection during (July-December) 2019-20 has shown remarkable growth of 25 percent as compared to same period of the last fiscal year.
In order to document big distributors, the Federal Board of Revenue (FBR) would not allow input tax adjustment to those manufacturers who would sell Rs 10 million goods on a monthly basis to unregistered buyers.
The government has promulgated Tax Laws (Second Amendment) Ordinance 2019 for major increase in penalties on cash currency smuggling, ranging from $10,000- $200,000 and above, up to fine of ten times of value of currency and imprisonment up to 14 years de
The Federal Board of Revenue (FBR) has granted concessionary rate of customs duty or zero percent duty on the import of 6,786 items from China with effect from January 1, 2020. The FBR has issued SRO 1640(I)/2019 here on Tuesday in supersession of notific
Federal Board of Revenue (FBR) Chairman Shabbar Zaidi Tuesday said the FBR has collected Rs 2,080 billion for the half year ended December 31, 2019. This is higher by 16 percent over last year for the same period.
The rates of sales tax and federal excise duty on construction materials, including existing rate of excise duty on cement, would remain intact till next federal budget and any change in rates of taxes for developers and builders would be considered from
The Federal Board of Revenue (FBR) has given of December 31, 2019 (Tuesday) deadline to big shopping malls and restaurants for installation of new software 'Point of Sale (POS)' to avoid sealing of their business premises and withdrawal of reduced rate of
An Appellate Bench of the Securities and Exchange Commission of Pakistan (SECP) has allowed a leading telecom company to obtain letter for group taxation for designation of companies within the Group (application for 2018) and directed the SECP to issue t
The Securities and Exchange Commission of Pakistan (SECP) is planning to freeze accounts and seize documents/properties of corporate entities offering fraudulent investment and schemes, through internet/online, promising hefty profits and unrealistic ince
Securities and Exchange Commission of Pakistan (SECP) Chairman Aamir Khan Saturday shared the roadmap for SECP's end-to-end digitalization for encouraging new startups and investors through improved access to finance, ease of doing business, reducing cost
Azad Jammu and Kashmir (AJK) authorities have requested the federal government for placing regulatory mechanism to monitor money changers' business to encourage genuine remittances of overseas Pakistanis to the AJK. Sources told Business Recorder o
The Securities and Exchange Commission of Pakistan (SECP) has issued certain amendments to the Public Offering Regulations, 2017 to promote capital formation by facilitating issuers, reducing the cost of an IPO and safeguarding the interest of general pub
A larger appellate bench of the Securities and Exchange Commission of Pakistan (SECP) was divided over framing a major case of insider trading in the shares of a banking company, as two SECP Commissioners established case of insider trading whereas third
The Competition Commission of Pakistan (CCP) has observed that acute shortage of wheat straw in the country has adversely affected the paper, dairy and meat industries and recommended a complete ban on the burning of wheat straw in the fields and use of i
Federal Board of Revenue (FBR) has decided to track and monitor the clearances of duties/taxes paid items from around 100 units of cement, sugar and fertilizer sectors under the automated Track and Trace System.