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Virtual CFOs – You need one! Even ICAP agrees.

ICAP’s Magazine “The Pakistan Accountant” published an article on “How Virtual CFOs reshape growing business” FINPERIAL is incomparable in this area and has been promoting necessity of CFO’s for businesses and providing quality services of Virtual CFO in Islamabad and Dubai. Contact us today to discuss how we can provide you premier services without any significant investment. 0336 5116392 finperial@gmail.com Incase you need to read … Continue reading Virtual CFOs – You need one! Even ICAP agrees.

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FBR – Take Action if Sales Tax is Wrongly Charged

Federal Board of Revenue (FBR) on Saturday urged people to file complaints against businessmen who are charging sales tax without registering themselves under sales tax act. According to details, FBR has issued a circular which states that general public has reported complaints against the businessmen who are charging sales tax from consumers without being registered with FBR under the Sales Tax Act-1990. “It is, therefore, … Continue reading FBR – Take Action if Sales Tax is Wrongly Charged

FBR collection increases- Foreign Funds Transfers 1B

The Federal Board of Revenue (FBR) collected one billion rupees in withholding tax revenue on funds transferred abroad through credit and debit cards in a year, official statistics showed. The government opened the avenue for revenue collection a year ago considering the growing trend of payment through plastic cards. A new section (236Y), inserted into the Income Tax Ordinance 2001 through Finance Bill 2018, bounded … Continue reading FBR collection increases- Foreign Funds Transfers 1B

FastTrack Privatisation- CCoP

The Cabinet Committee on Privatisation (CCoP) has directed the Ministry of Privatisation to expedite the process of privatization of public sector enterprises approved for privatization and further advised the Ministry of Privatisation to hire financial advisors for at least 10 PSEs before the next CCoP meeting. The CCoP in its meeting held with Advisor to the Prime Minister on Finance & Revenue, Dr. Abdul Hafeez … Continue reading FastTrack Privatisation- CCoP

Good news: NO ACTION AGAINST THE TRADERS TILL 30TH SEPTEMBER – FBR

Chairman Federal Board of Revenue Shabbar Zaidi held a meeting with all groups of traders of Pakistan on August 8, 2019 at FBR and discussed various issues about the traders. It has inter alia been agreed with consensus that no adverse action under the Income Tax Ordinance 2001 and Sales Tax Act, 1990 will be undertaken against the traders merely on the basis of information … Continue reading Good news: NO ACTION AGAINST THE TRADERS TILL 30TH SEPTEMBER – FBR

SECP revokes licenses of 13 Non-Profit Companies

The Securities & Exchange Commission of Pakistan in its drive against non- compliant companies, has revoked during the quarter ended on June 30, 2019, licenses of thirteen (13) not for profit companies, issued in pursuance of section 42 of the Companies Act, 2017. The main reason for revocation of licenses of these companies is that they are non-compliant to the statutory requirements of the law … Continue reading SECP revokes licenses of 13 Non-Profit Companies

Asian Development Bank and World Bank restore budgetary support after 2 years

The Asian Development Bank (ADB) on Wednesday approved a $500-million loan for budgetary support to Pakistan, restoring policy-based lending after keeping it suspended for over two years due to deterioration in macroeconomic conditions. The ADB board of directors approved the $500 million in budgetary support under the $800-million Trade and Competitiveness Support Programme. The loan approval was pegged with introduction of a new legislation and … Continue reading Asian Development Bank and World Bank restore budgetary support after 2 years