IMPLEMENTATION OF SECTION 72 OF THE COMPANIES ACT, 2017-CONVERSION OF PHYSICAL SHARES INTO BOOK-ENTRY FORM Background Section 72 of the Companies Act, 2017 (the “Act”) requires every company having share capital to have its shares in book-entry form only, from the date notified by the Commission. Further, every existing company is required to [...]
Dear Valued Client, Punjab Revenue Authority has issued information, wherein due Date of payment of Punjab Sales Tax and Filing of Sales Tax Returns / withholding statements for tax period April 2021 has been extended as per following: Due Date of payment of Punjab Sales Tax and Filing of Sales Tax Returns / [...]
Dear Valued Client, Federal Board of Revenue has issued information, wherein due to holidays of Eid ul Fitr, date of Payment and Submission of Sales Tax and FED return for Tax period April 2021 have been extended as per following: Payment of Sales Tax and FED: May 18, 2021 Submission of Sales [...]
KCO Newsletter March 2021
This blog is written by Mr. Ahmad Yar Khan. Please read this blog and provide your valued comments The Government through the promulgation of Tax Laws (Amendment) Ordinance, 2021 approved the withdrawal of around 80 income tax exemptions. One of the industries impacted by this withdrawal is the IT and IT enabled services sector. It [...]
This blog is written by Mr. Agha Mudassar Khan. Please read this blog and provide your valued comments Lifting the Veil of Ultimate Beneficial Ownership Knowledge about real owners of any corporate vehicle is pivotal in worldwide efforts to fight against corruption, preventing money laundering, countering terror financing and combating tax frauds. Numerous empirical [...]
KCO BLOGS 2021 FATF RECOMMENDATIONS RELATED TO DNFBPs AND CHALLENGES FACED BY FBR This blog is written by Mr. Abdul Hafeez. Please read this blog and provide your valued comments INTRODUCTION: The FATF research highlighted a trend in the use of complex commercial arrangements by money launders (ML) and terrorism financiers (TF) to hide [...]
This blog is written by Mr. Asim Habib. Please read this blog and provide your valued comments Though, the year 2020 will be remembered in history as the year of pandemic and its devastation across the world. However, at the same time, the world will remember this year in redefining the word “normal”. The pandemic [...]
This blog is written by Mr. Saif Uddin Khilji. Please read this blog and provide your valued comments NOTICE UNDER RULE 44(4) OF INCOME TAX RULES 2002 This notice has become a norm and nearly every withholding agent is receiving this and being asked by the department to provide reconciliation under Rule 44(4) [...]
This blog is written by Mr. Nauman Ul Qadeer. Please read this blog and provide your valued comments The purpose of this blog is to give a brief introduction about commodity / mercantile exchange and to identify registration / licensing requirements of Future Brokers only. Introduction Commodity Exchange or Mercantile Exchange is a [...]
