INTRODUCTION Federal Board of Revenue issued letter dated November 20, 2019 COMMENTARY: Through this letter, FBR has extended date of Submission of Sales Tax and Federal Excise Return for Tax Period October 2019 are as follows: Submission of Sales and Federal Excise Return November 25, 2019 Prior to above indicated [...]
EFFECTIVE DATE OF IFRS – 9 (FINANCIAL INSTRUMENTS) IN PLACE OF INTERNATIONAL ACCOUNTING STANDARD (IAS) 39 (FINANCIAL INSTRUMENTS RECOGNITION AND MEASUREMENT) FOR NON-BANKING FINANCE COMPANIES INTRODUCTION The Securities and Exchange Commission of Pakistan issued SRO 1332(I).2019 on November 7, 2019. COMMENTARY SECP vide S.R.O. 1332(I)/2019 dated November 07, 2019 has modified [...]
INTRODUCTION The Federal Revenue Board (FRB) issued S.R.O. 1320(I)/2019 dated November 08, 2019. COMMENTARY Through aforementioned SRO, FBR has proposed draft amendments to The Income Tax Rules 2002. The draft is open for comments by any person affected by the proposed amendments within 7days of the issuance of the subject notification. [...]
INTRODUCTION The Federal Revenue Board (FRB) issued S.R.O. 1321(I)/2019 dated November 08, 2019. COMMENTARY Through aforementioned SRO, FBR made following amendment The Twelfth Schedule to the Sales Tax Act 1990 whereby the goods as specified in the Third Schedule on which tax is paid on retail price basis are excluded from levy [...]
In continuation of our regular practice, we are pleased to present and publish our Newsletter for the month of OCTOBER 2019. Please click on link mentioned below to access and study the Khilji & Co, Chartered Accountants Newsletter (OCTOBER 2019) KCO October 2019 Newsletter This Newsletter envisages following aspects: COMMENTARIES OF [...]
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AMENDMENTS IN THE NON-BANKING FINANCE COMPANIES AND NOTIFIED ENTITIES REGULATIONS, 2008 SECP vide S.R.O. 1233 (I)/2019 dated October 16, 2019 made amendments in the Non-Banking Finance Companies and Notified Entities Regulations, 2008. Non-Banking Finance Companies (NBFCs) and Notified Entities Regulations, 2008 (afterwards referred as “Regulations”) apply to NBFCs, carrying out leasing, investment finance [...]
INTRODUCTION Securities and Exchange Commission of Pakistan issued following SROs S. R.O. 1283 (I)/2019 dated October 28, 2019 S. R.O. 1285 (I)/2019 dated October 28, 2019 S. R.O. 1286 (I)/2019 dated October 28, 2019 S. R.O. 1284 (I)/2019 dated October 28, 2019 COMMENTARY AMENDMENTS IN “DEBT SECURITIES TRUSTEES REGULATIONS, 2017” SECP vide S.R.O. [...]
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INTRODUCTION Federal Board of Revenue issued letter dated October 31, 2019 COMMENTARY: Through this letter, FBR has extended date of Payment and Filing of Sales Tax and Federal Excise Return for Tax Period September 2019 are as follows: Submission of Sales and Federal Excise Return November 8, 2019 Prior to [...]
