15/04/2026
SECP Regulatory Update: Facilitating Capital Raising for Listed Companies
The Securities and Exchange Commission of Pakistan (SECP) has recently amended the Companies (Further Issue of Shares) Regulations, 2020. These changes aim to simplify the process for listed companies to raise capital through Rights Issues.
Critical Amendments:
· CIB Report Waiver: The requirement for a clean Credit Information Bureau (CIB) report is now waived if the relevant financial institution provides a No Objection Certificate (NOC).
· Disclosure Requirements: While the process is simplified, the SECP has maintained high disclosure standards to ensure investor protection.
· Insolvency Oversight: Boards are now under stricter mandates to integrate sustainability risks into their strategic decision-making.
06/04/2026
Income Tax Ordinance (Third Amendment) Act, 2026: Reforming ADR
The National Assembly has passed the Third Amendment Act, 2026, bringing structural changes to the Alternative Dispute Resolution (ADR) mechanism under Section 134A.
Summary of Key Changes:
Dissolution Timeline: The decision-making timeframe for ADR Committees has been extended from 60 to 90 days. If no decision is reached, the committee dissolves automatically, and the dispute reverts to regular adjudication.
Composition: Power to constitute the committee now rests solely with the Chairman of the FBR.
Appellate Rights: New provisions grant State-Owned Entities (SOEs) the right to appeal Committee decisions to the Supreme Court or the Federal Constitutional Court.
Understanding these procedural shifts is vital for effective tax litigation and dispute management.
01/04/2026
SRO 288(I)/2026: Mandatory E-Invoicing for Professional Services
The Federal Board of Revenue (FBR) has expanded the scope of mandatory digital integration.
Under the new SRO 288(I)/2026, a wide range of service providers, including clinics, gyms, and hostels, must now integrate their billing systems with the FBR’s computerized portal.
Key Technical Requirements:
• Real-time Reporting: All transactions must be reported through integrated hardware/software at the time of the sale.
• Prohibition of Manual Bills: Integrated enterprises are strictly prohibited from making supplies except through the FBR-linked system.
• Data Security: Mandatory use of official email addresses for all data correspondence with the Board is now enforced to ensure security.
TRC Note: Failure to integrate can lead to the sealing of business premises and significant penalties.
Is your billing software compliant?
