Finance
Pakistan Removed from FATF Grey List
Pakistan Removed from FATF Grey List. According to media news, Pakistan has been removed from the Grey list of the Financial Action Task Force (FATF). For the last four years, Pakistan was…
#FATF
15 articles
Business
FATF asks for list of business persons registered with FBR using forged CNIC
The Financial Action Task Force (FATF) has sought the list of business persons registered with tax departments using forged CNIC. FBR has acquired some details about such business persons using forged CNICs,…
Business
FBR imposed penalties on real estate agents for not implementing Anti-money laundering regime
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…
Business
FBR completed FATF actions on Anti Money Laundering and DNFBPs before deadline
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…
World Taxes
FATF declares Its Decision on Pakistan’s Grey List Status
In its recently held hybrid Plenary meeting, the Financial Action Task Force (FATF) has decided to keep Pakistan on the grey list. Pakistan will remain on the grey list till it addresses…
Finance
FATF retains Pakistan on grey list
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.…
Finance
FATF's condition fulfilled, 15000 and 7500 Prize Bonds to be abolished
According to the details, the federal government has decided to scrap 15,000 and 7,500 Prize bonds. Investors have time till June 2021 to cash 15,000 prize bonds. Fifteen thousand prize bonds will…
Finance
FATF maintains ‘grey’ status for Pakistan even after significant progress
A statement from the FATF stated that "As soon as all the deadlines of the Action Plan have expired, the FATF urges Pakistan to expedite its completion of the Action Plan by…
Finance
Pakistan made progress on all 27 points in FATF Action Plan
This was claimed by government sources who added that they are hopeful that Pakistan would be out of the Grey List following the upcoming meeting of global terror financing watchdog. FATF would…
Updates
Taxpayer bound to make e-payment of duties and taxes over Rs 1 million: FBR
Mohsin Rafique informed the participants that as per the requirements of FATF and as a direction towards digitization and automation of the economy, the federal government has now bound to all importers…
Taxation
Cash paid for immovable property required to be reported under anti money laundering and counter terrorism financing : FBR
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…
Updates
Anti money laundering Act: monitoring of Jewelers, real estate agents and accountants under strict regulations
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…
Updates
PTI government considering another tax amnesty scheme
The PTI government is considering another amnesty scheme. It will be third in two years. On black foreign currency held by Pakistani nationals. Financial Action Task Force (FATF) and the International Monetary…
Finance
FATF awarded another lifeline to Pakistan
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…
Finance
FATF takes up Pakistan case tomorrow
With compliance of 21 points out of 27 action plan placed to combat money laundering and terror financing. The FATF’s meeting started in Paris on Wednesday. The FATF meeting will decide fate…