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Sohail Sarfraz

FAQs replied by SECP on beneficial ownership
Markets

FAQs replied by SECP on beneficial ownership

The Securities and Exchange Commission of Pakistan (SECP) has clarified that beneficial ownership (BO) information is necessary to detect and prevent tax evasion, corruption, money laundering, terrorist financing, and other illicit behavior involving one
Published 04 Dec, 2019 12:00am
July-November updated collection shows Rs211.4bn shortfall
Print

July-November updated collection shows Rs211.4bn shortfall

The updated collection of the Federal Board of Revenue (FBR) stood at Rs 1,617 billion during July-November (2019-20) against the target of Rs 1,828.4 billion, reflecting a shortfall of Rs 211.4 billion. According to a tweet of FBR Chairman Shabbar Zaidi
Published 01 Dec, 2019 12:00am
Lending Modaraba may raise funds through issuance of 'COM': SECP
Print

Lending Modaraba may raise funds through issuance of 'COM': SECP

A lending Modaraba, having enabling clause for resource mobilization in its prospectus, with the approval of the Commission, may raise funds through issuance of Certificates of Musharakah (COM) after complying with the laid down requirements by the Commis
Published 01 Dec, 2019 12:00am
Corporate sector: SECP withdraws major documentary measure
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Corporate sector: SECP withdraws major documentary measure

Securities and Exchange Commission of Pakistan (SECP) Friday withdrew a major documentary measure from corporate sector by taking away condition of mandatory submission of compliance certificate regarding its status of compliance with the requirements of
Published 30 Nov, 2019 12:00am
Registered units: DG&I, IR restrained from conducting raids
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Registered units: DG&I, IR restrained from conducting raids

Chairman Federal Board of Revenue (FBR) Shabbar Zaidi has decided to restrain Directorate General of Intelligence and Investigation Inland Revenue (IR) from conducting income tax and sales tax raids on registered units, creating harassment among the busin
Published 30 Nov, 2019 12:00am
CCP recommends steps to protect real estate investors
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CCP recommends steps to protect real estate investors

A three-member bench of the Competition Commission of Pakistan (CCP) Thursday declared that numerous cases have been witnessed in Pakistan's burgeoning real estate sector where investors in housing schemes have been defrauded by unscrupulous elements.
Published 29 Nov, 2019 12:00am
FBR lists factors behind revenue shortfall during 2018-19
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FBR lists factors behind revenue shortfall during 2018-19

The Federal Board of Revenue (FBR) has described slowdown in the construction-allied sectors including cement and steel, and import compression as major factors behind revenue shortfall during 2018-19. According to the FBR's biannual review (July-December
Published 27 Nov, 2019 12:00am
Draft authority law seeks repeal of FBR law
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Draft authority law seeks repeal of FBR law

The draft Federal Revenue Authority Act 2020 has proposed to reconstitute Federal Board of Revenue (FBR) into Federal Revenue Authority (FRA) to make it a service-oriented organization, with job protection to existing employees, and greater autonomy and p
Published 26 Nov, 2019 12:00am
Modaraba sector: SECP to introduce new regulatory framework
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Modaraba sector: SECP to introduce new regulatory framework

In order to monitor investment/transactions in the Modaraba sector, the Securities and Exchange Commission of Pakistan (SECP) has decided to introduce new regulatory framework by imposing minimum conditions on Modaraba for providing finance to their custo
Published 25 Nov, 2019 12:00am
FBR to launch 'POS' for large retailers
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FBR to launch 'POS' for large retailers

Federal Board of Revenue (FBR) Chairman Shabbar Zaidi Saturday said the FBR will launch automated Point of Sale (POS) for all large retailers from December 2019.
Published 24 Nov, 2019 12:00am