The Securities and Exchange Commission of Pakistan (SECP) has extended the Companies Regularization Scheme by one month. According to a press statement, the scheme will now be effective until October 15, 2024, providing defaulting companies with the opportunity to regularise their overdue filings without incurring late charges or penalties. To further streamline the process and … Read more
A general view of the Burj Khalifa and the downtown skyline in Dubai, United Arab Emirates, June 12, 2021. — Reuters DUBAI: A visa amnesty scheme has been launched by the United Arab Emirates, which provides a two-month window operation from September 1 to October 30 for residents with expired visas to either regularise their … Read more
ISLAMABAD: The government has introduced a new contributory pension fund scheme for all federal government employees, according to an office memorandum issued by the Ministry of Finance on Tuesday, Express News reported. The memorandum states that the scheme will apply to all employees hired on a permanent basis from 1st July 2024 onwards. It will … Read more
The Federal Board of Revenue (FBR) has expressed its willingness to amend the tax scheme according to the demands of traders, signalling a potential shift in the ongoing discussions over tax collection. According to FBR sources, a revised note could be issued promptly if traders agree, with proposed changes including exempting small traders from tax … Read more
FAISALABAD: Coordinator to the Prime Minister for the Tajir Dost Scheme, Muhammad Naeem Mir, has announced that the government is reviewing the tax table to alleviate traders’ concerns. During a meeting at the DC Office in Faisalabad, he highlighted that the primary aim of the Tajir Dost Scheme is to simplify tax filing for traders. … Read more
The government has expanded the scope of the Tajir Dost Scheme, an initiative to incorporate the retailers into the tax net, to include shops in residential areas. The decision to extend the scheme, which now covers 100-square-foot shops previously exempt from the fixed income tax of Rs100 to Rs60,000 per month, was made to address … Read more
ISLAMABAD: The government has quietly expanded the scope of the traders’ scheme to include shops located in residential areas, as uncertainty looms over the approval of the $7 billion International Monetary Fund (IMF) programme due to a financing gap and ad-hoc relief for electricity consumers. A few days ago, the federal government extended the retailers’ … Read more
The Federal Board of Revenue (FBR) has so far registered over 58,000 small traders and shopkeepers under the Tajir Dost Scheme, a shortfall from the target of 3.2 million. The scheme aims to bring a large number of small businesses into the tax net, with the FBR projecting a total collection of Rs40 billion for … Read more
ISLAMABAD: A significant misuse of the Export Facilitation Scheme and alleged involvement in money laundering by scrap importers has been revealed, prompting the Brass Manufacturing Association (BMA) to propose the scheme’s cancellation. The Federal Board of Revenue (FBR) has approached the Secretary General of the Brass Manufacturing Association to investigate these allegations, which come as … Read more