Daily Archives: November 14, 2017

SECP directs life insurance companies to provide information of policyholders having annual Rs5 million or above premium

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) directed the life insurance companies to provide details of each policy holders having annual premium of Rs5 million or above in order to comply with Anti-Money Laundering (AML) directives.

SBP amends AML/CFT regulations

KARACHI: State Bank of Pakistan (SBP) has amended regulations regarding Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) and revised requirement of documents to be submitted by limited companies and corporations to banking companies.

KCCI urges FBR to extend tax return filing date up to Dec 31

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has urged the Federal Board of Revenue (FBR) to extend the last date for filing income tax returns up to December 31 as many taxpayers will not be able to file their returns by last date i.e. November 15 due to slowdown of Iris – the online return filing portal.

ECC refers back duty, tax exemption on gas infrastructure development projects

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has referred back the issue of duty and tax exemption on Gas Infrastructure Development Projects of Large Diameter Pipeline for discussion among the finance division, Federal Board of Revenue (FBR) and petroleum division.

Customs to adopt one clearance system for FCL, LCL cargo

KARACHI: Chief Collector of Customs South (Enforcement) Manzoor Memon has directed customs authorities to adopt one clearance system for both FCL and LCL cargo.