ISLAMABAD: The SECP, with an aim to bring the non-corporate business into the corporate fold as well to incentivize the existing companies.
The SECP has substantially decreased the fee for the formation of a company as well for the filing of returns being charged under Sixth Schedule to the Companies Ordinance, 1984, effective from 31st May 2016, said a statement issued by SECP here on Tuesday.
Through the SRO, notifying the said rationalization, the SECP has made significant reduction in first slab of the capital fee for new incorporation cases to Rs. 1,000 for online and Rs. 2,000 for offline submission from Rs. 2,500 and 5,000 respectively translating into 60% reduction.
Besides some of the slabs of the capital fee have also been rationalized.
SECP has also made significant reduction in filing fee for returns, particularly for small sized entities, by introducing capital based filing fee starting from as low as Rs. 250 for online and Rs. 500 for offline submission replacing the existing structure of fixed filing fee of Rs. 600 and Rs. 1500, respectively.
In order to further incentivize the corporate sector the SECP will now provide a set of certified copies of all the incorporation documents free of cost on its registration.
Similarly, certified copies of all the statutory returns will be provided free of cost at the time of issuing the acknowledgement of filing of return without any formal application for the same.
The aforesaid measures have been taken by the SECP with an aim not only to reduce the overall cost of starting a business but also to enhance the rate of statutory compliance by the companies regulated by it; so as to encourage corporatization.
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