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Share transfers: Foreign investors seeking clarity on FBR exemption certificates
ISLAMABAD: Foreign investors have strongly emphasised the need for a streamlined and time-bound exemption certificate process for foreign investors seeking registration of foreign-held shares acquisitions in Pakistan and cross-border share transactions involving Pakistani assets. The Federal Board of Revenue (FBR) should immediately issue necessary clarification to remove apprehensions of the foreign investors. Backed by legal framework, foreign investors insisted that the certification requirements introduced through Rule 19H of the Income Tax Rules should not apply retrospectively to transfe...
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