Anti Money Laundering, Benami Transactions and Foreign Exchange Laws (Vol-1)
Anti Money Laundering, Benami Transactions and Foreign Exchange Laws (Vol-2)
ANTI-MONEY LAUNDERING LAWS
1. Anti-Money Laundering Act, 2010
2. Anti-Money Laundering Rules, 2008
3. Anti-Money Laundering Regulations, 2015
4. Anti-Money Laundering, Combating the Financing of Terrorism & Countering Proliferation Financing (AML/CFT/CPF) Regulations for State Bank of Pakistan Regulated Entities
5. SECP (Anti-Money Laundering and Countering Financing of Terrorism) Regulations, 2020
6. AML/CFT Sanctions Rules, 2020
7. Counter-Measures for High Risk Jurisdiction Rules, 2020
8. National Savings AML and CFT Supervisory Board (Powers and Functions) Rules 2020
9. National Savings (AML and CFT) Regulations, 2020
10. Pakistan Post (AML and CFT) Supervisory Board (Powers and Functions) Rules 2020
11. Pakistan Post (AML and CFT) Regulations, 2020
12. Federal Board of Revenue Anti Money Laundering and Countering Financing of Terrorism Regulations for DNFBPs, 2020. 13. The DNFBPs (Regulatory Powers and Functions) Regulations, 2020
14. AML/CFT Guidelines on Risk Based Approach for SBP’s Regulated Entities (SBP REs/DFIs/MFBs)
15. Anti-Money Laundering and Combating Financing of Terrorism Regulations for Chartered Accountants Reporting Firms
16. Anti-Money Laundering and Combating Financing of Terrorism Regulations for Cost and Management Accountants Reporting Firms
17. Reporting Requirements of Regulated Persons
18. Directive for Development of Detailed Procedure to Counter Potential Threat of Using Insurance Service for Money Laundering
19. SBP Guidelines on Targeted Financial Sanction (TFS) under UNSC Regulations
20. Guidelines for the Reporting Entities on Filing of Suspicious Transaction Reports
21. Guidelines for Reporting Suspicious Transaction Report (STRs) on Cancellation/Blockage of CNIC/Passports & Registrations/Licenses by the Authorities
22. Guidelines for Reporting Suspicious Transaction Report (STRs) on Designated/Proscribed Individuals/Entities and their Associates
23. Red Flag Indicators for Accountants
24. Red Flag Indicators for Jewellers & Precious Metals/Stones Dealers
25. Red Flag Indicators for Lawyers/ Notaries and Independent Legal Professionals
26. Red Flag Indicators for Real Estate Sector
27. Red Flag Indicators for Misuse of Legal Arrangements and NPOs Sector
28. Red Flag Indicators for Proliferation Financing
BENAMI TRANSACTIONS LAWS
29. The Benami Transactions (Prohibition) Act, 2017
30. The Benami Transaction Rules, 2019
FOREIGN EXCHANGE LAWS
31. Foreign Exchange Regulation Act, 1947
32. Foreign Exchange Rules. 1952
33. Adjudication Proceedings and Appeal Rules, 1988
34. Terms and Conditions of the Presiding Officers of Foreign Exchange Regulation Appellate Board
35. Foreign Exchange (Temporary Restrictions) Act, 1998
36. Foreign Exchange Repatriation Regulation, 1972
37. Foreign Exchange Loans (Rate of Exchange) Order, 1982
38 Foreign Exchange (Prevention of Payments) Act, 1972
39. Foreign Currency Accounts (Protection) Ordinance, 2001
40. Foreign Currency Accounts Rules, 2020
ASSETS DECLARATION LAWS
41. Assets Declaration Act, 2019
42. Assets Declaration (Procedure and Conditions) Rules, 2019
43. Voluntary Declaration of Domestic Assets Act, 2018
44. Foreign Assets (Declaration and Repatriation) Act, 2018
45. Government of Pakistan’s US Dollars Denominated Amnesty Bonds Rules, 2018
46. Repatriation and Deposit of Tax on Foreign Assets (Declaration and Repatriation) Procedure, 2018
47. Foreign Assets (Declaration) Regulation, 1972
OTHER RELEVANT LAWS
48. Payment Systems and Electronic Fund Transfers Act, 2007.
49. United Nations (Security Council) Act, 1948
50. United Nations Security Council (Freezing and Seizure) Order, 2019
51. Mutual legal Assistance (Criminal Matters) Act, 2020
52. Protection of Economic Reforms Act, 1992
53. Foreign Private Investment (Promotion and Protection) Act, 1976
54. Naya Pakistan Certificates Rules, 2020
Practical Approach to Income Tax Litigation
| Chapter |
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| I | Introduction of Income Tax Laws in Pakistan:
(i) History of imposition of Income tax.
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| II | Stages in Income Tax Litigation:
(i) Taxpayer Registration with FBR [Rule 79 to 83] (ii) Filing of Tax Return/Wealth Statement. [Section 114 & 116] (iii) Audit, assessment and Appeals [Section 177, 122 and 127 to 133]
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III |
Filing of Income Tax Return: [Section 114]
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| IV | Concept of deemed assessment order: [Section 120]
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| V | Maintenance of Records for Tax Purposes: [Section 174]
(i) Case laws
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| VI | Notice to obtain information or evidence: [Section 176]
(i) Case laws
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| VII | Audit, verification of books of accounts & Audit Selection by the Commissioner: [Section 177]
(i) Case laws
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| VIII | Selection of Audit by FBR through Computer ballot: [Section 214]
(i) Case laws
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IX |
Income Tax Rules, 2002 relating to selection and conduct of audit
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| X | Rectification of Mistake. [Section 221]
(i) Rectification of Mistake in the assessment order passed by the Inland Revenue Officer (Tax Department). (ii) Case Laws (iii) Rectification of Mistake by the Commissioner (Appeals). (iv) Specimen of Application for Rectification of Mistake before the Commissioner (Appeals) (v) Application for Rectification of Mistake by the Appellate Tribunal Inland Revenue. (vi) Specimen – I Application for Rectification of Mistake. (vii) Specimen – II Application for Rectification of Mistake. (viii) Section 221 Rectification of Mistake.
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| XI | Best judgement assessment [Section 121]
(i) Case Laws
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| XII | Assessment and Amendment of Assessment Order. [Section 122]
(i) Opportunity of hearing u/s 122 (9) (ii) Case laws on opportunity of hearing (iii) Limitation period for passing of order from the date of Show Cause Notice issued u/s 122 (9) (iv) Limitation Period of amendment of assessment. (v) Case Laws on limitation period. (vi) What is Definite Information. (vii) Revisional Powers of Commissioner IR under Section 122(5A) (viii) Case Laws on Revisional Powers Section u/s 122 (5A). (ix) Section 122. Amendment of assessments.
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| XIII | First Appeal before the Commissioner Inland Revenue. [Section 127, 128 & 129]
(i) How to file Appeal before Commissioner (Appeals) Inland Revenue (Step Wise) (ii) Specimen Draft of Appeal before the Commissioner (Appeals) (iii) Section 127. Appeal to the Commissioner (Appeals). (iv) Section 128. Procedure in appeal. (v) Section 129 Decision in appeal. (vi) Income Tax Rules, 2002 Relating to filing of appeal before the Commissioner Appeals |
| XIV | Second/Final Appeal before the Appellate Tribunal Inland Revenue. [Section 130, 131 & 132]
(i) How to file Appeal before Appellate Tribunal Inland Revenue (Step Wise) (ii) Prescribed Form of Appeal (iii) Specimen Draft of Appeal before the Appellate Tribunal IR (iv) Section 130. Appellate Tribunal. (v) Section 131. Appeal to the Appellate Tribunal. (vi) Section 132. Disposal of appeals by the Appellate Tribunal (vii) Appellate Tribunal Inland Revenue Rules, 2010. |
| XV | Reference Application Before the High Court against the Order of Appellate Tribunal. [Section 133]
(i) Question of Law only (ii) Case laws relating to scope of Reference Application (iii) Prescribed form of Reference application (iv) Specimen / Sample draft of Reference Application along-with affidavits, stay application, dispensing with application and board resolution. (v) Section 133. Reference to High Court.
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| XVI | Alternative Dispute Resolution (ADRC) [Section 134A]
(i) ADRC RULES: Rule 231C. Alternative dispute resolution. (ii) Prescribed Application for Alternative Dispute Resolution:
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| XVII | Complaint before the Federal Tax Ombudsman. [Under Federal Tax Ombudsman Ordinance, 2000]
(i) Complaint filing Procedure (ii) Jurisdiction, functions and powers of the Federal Tax Ombudsman. [Section 9 of the FTO, 2000] (iii) Procedure and evidence. [Section 10 of the FTO, 2000] (iv) Recommendations for implementation. [Section 11 of the FTO, 2000] (v) Power to punish for contempt. [Section 16 of the FTO, 2000] (vi) FORM-A: Complaint Form (vii) FORM-B: For Registration of Complaint
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| XVIII | Prosecution
(i) Prosecution for concealment of income. [Section 192A.] (ii) Prosecution for making false or misleading statements. [Section 195]. (iii) Trial by Special Judge. [Section 203]. (iv) Appeal against the order of a Special Judge. [Section 203A]. (v) Section 203B. Power to arrest and prosecute. [Section 203B]. (vi) Procedure to be followed on arrest of a person. [Section 203C].
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| IX | Registration of Taxpayer’s
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| XX | Authorized Representative of Taxpayer (Counsel, Accountant or Income Tax Practitioner.
(i) Representation on behalf of Taxpayer and Tax Department (ii) Appearance by authorized representative. [Section 223]. (iii) Rules for Registration of Income Tax Practitioner. (iv) Application of Chapter XIV. [Rule 84]. (v) Application for registration as an income tax practitioner. [Rule 85]. (vi) Prescribed qualification for registration as an income tax practitioner. [Rule 86]. (vii) Registration of income tax practitioners. [Rule 87]. (viii) Duration, Cancellation of registration and Appeal to Federal Board of Revenue. [Rule 88 to 90]. (ix) Application for registration of Income Tax Practitioner |
| XI | Recovery Proceedings and Stay against Recovery.
(i) Demand of Tax under Section 137 (Step-I) (ii) Recovery of Tax under Section 138 (Step-II) (iii) Recovery of Tax through attachment under Section 140 (Step-III) (iv) Stay application before the Commissioner (Appeals) under Section 128 (1A) (v) Stay the Appellate Tribunal IR under Section 131 (5) (vi) Case Laws against Recovery Proceedings
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| XII | Active Taxpayer
(i) Special provisions relating to persons not appearing in active taxpayers list. [Section 100BA] (ii) Return not filed within due date. [Section 182A] (iii) Rate of deduction or collection of tax (9th Schedule) (iv) Persons not required to file return or statement (9th Schedule) |
| XIII | Important Definitions in Income Tax Ordinance, 2001, |