Tag: Regulatory Compliance

The Federal Board of Revenue implements a new system for e-commerce taxation where payment intermediaries, courier services, and online marketplaces withhold sales tax at source, supported by a detailed IRIS user manual to ensure transparency, efficiency, and compliance.

1LINK and InfoTel Pakistan strengthen the country’s card personalization ecosystem with a new Matica personalization machine, enhancing capabilities for PayPak, co-badged, and UPI card programs while boosting efficiency, security, and scalability.

The State Bank of Pakistan introduces its Technology Risk Management (TRM) Framework for Payment Institutions, setting comprehensive standards to strengthen cybersecurity, operational resilience, and governance across Pakistan’s digital financial ecosystem.

Astrik and Grant Thornton have partnered with JS Bank to automate IFRS 9 Expected Credit Loss (ECL) and Effective Interest Rate (EIR) reporting, marking a major milestone in Pakistan’s banking automation and compliance innovation.

Pakistan’s e-commerce sector faces rising concerns as the government implements a new tax regime, including 18% GST and strict reporting mandates. Platforms, sellers, and courier services brace for sweeping changes amid uncertainty.

ACE Money Transfer CEO Rashid Ashraf held key meetings with Pakistan’s finance, information, and overseas ministries to advance legal remittance flows, strengthen digital finance infrastructure, and support national economic goals through structured, data-driven collaborations.

FBR and PRAL conducted a Digital Invoicing Awareness Seminar in Quetta to educate local businesses on integrating digital invoicing systems, addressing region-specific challenges, and promoting compliance with FBR’s digital tax mandates.