FBR updates, income tax, budgets and markets for Pakistan
9 articles
The Federal Board of Revenue (FBR) registered 215 First Information Reports (FIRs) against 267 people under the Anti-Money Laundering (AML) Act in the last four years. Chairman FBR, Muhammad Ashfaq Ahmad, shared…
FBR has succeeded in winning the first ever case of conviction for the offence of money laundering based on massive tax evasion. The Directorate General I & I-IR had received financial intelligence…
ISLAMABAD: The government has barred all public and private development authorities from doing business with real estate agents who are not registered under the Anti-Money Laundering (AML) Act. The condition to suspend…
The Federal Board of Revenue (FBR) has intensified offsite and onsite inspections against Designated Non-Financial Businesses and Professions (DNFBPs) and imposed penalties on a large number of real estate agents for not…
FBR has completed actions on DNFBPs in the FATF action plan in just one reporting cycle and one year ahead of the deadlines in September 2022. The FATF plenary in its public…
The Financial Action Task Force (FATF) has retained to Pakistan on its grey list while admitting that the Pakistan has fully implemented 26 out of 27 points of its Financial action plan.…
Every cash transaction for sale or purchase of housing units worth more than Rs. 2 million must be reported under Anti Money Laundering (AML) / Counter Terrorism Financing (CFT). To comply with…
The FBR issued SRO 1319 (I) / 2020 on 10 December 2020 to empower Inland Revenue officers to exercise the powers vested in them under Section 6A of the Anti Money Laundering…
The Financial Action Task Force (FATF) on Friday gave yet another lifeline to Pakistan. Decided to retain the country in its grey list for four more months. Pakistan avoided again to be…