SECP seeks relief for capital markets.

ISLAMABAD -- The Securities and Exchange Commission of Pakistan (SECP) has asked the Federal Board of Revenue (FBR) to extend critical relief towards the capital markets and corporate sector in the upcoming budget.

The regulatory body asked the FBR to address anomaly created in the definition of 'security' for computation of Capital Gains Tax (CGT) on listed securities.

The SECP said that in order to unlock the potential of private funds, proposals to allow perpetual pass through status to all categories of private funds have been proposed.

Considering the stock market condition, the reduction of CGT should be looked into for two years on disposal of listed securities, and it would be beneficial for investors if distinction between short-term gains and long-term gains is also restored, the regulator said.

To revamp regulatory regime and introduce Private Funds Regulations, 2015, the SECP recommended changes to...

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