Dear Members Following are the latest updates SECP Reporting Net Capital Balance: SECP issues guidelines for brokers The Securities and Exchange Commission of Pakistan has issued guidelines for stock exchange brokers to ensure that a consistent approach should be followed while complying with the regulatory requirements of Securities and Exchange Rules, 1971 (SEC Rules) in calculating and reporting Net Capital Balance (NCB). Members can download the complete notification from the below link secp.gov.pk/Guides/2013/Guidelines_NCB-Calculation_2013.pdf FBR SRO # 670(l)2013 dated July 18, 2013 Federal Government is pleased to direct that the import and supply of goods , mentioned in the column 2 of the table and the raw materials, packing materials, sub-components, components, sub-assemblies and assemblies imported are purchased locally for the manufacture of the said goods shall be charged to Sales Tax @ 0 %, subject to the conditions specified. Members can download complete notification from the below link. download1.fbr.gov.pk/SROs/2013718147746747SRO670OF2013.pdf Sales tax on old and used clothes has been reduced from 17& to 5% Clarifying a news item appearing in a section of the press, the official spokesperson of FBR, stated that Sales Tax on old and used clothes has been reduced by the Federal Minister for Finance Mr. Mohammad Ishaq Dar, from 17% as stated on the floor of the National Assembly in his Budget speech on 5th June 2013, to 5% in his winding up speech and as incorporated in the Finance Act 2013. This reduction in Sales Tax from 17% to 5% was due to Government’s consideration for the common man, who uses these old / used clothes.
Posted on: Sat, 20 Jul 2013 06:20:55 +0000
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