SECP issues Master Circular for Asset Management Companies

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP), to facilitate mutual fund industry has issued a Master Circular for Asset Management Companies (AMCs) and Investment Advisor (IAs) consolidating all existing, applicable circulars, directions and clarifications. The consolidation of all past circulars, issued by the SECP from January 06, 2009… Continue reading

FED on services withdrawn

KARACHI: The much awaited withdrawal of the federal excise duty (FED) on services, which are now subject to provincial sales tax, has been proposed in the Finance Bill 2016. In the Finance Bill 2016, services will not be subject to FED include advertisements; shipping agents; franchise services; stock brokers; and… Continue reading