SECP/FBR PREPARATION

SECP/FBR PREPARATION, It Is A Mouthful, But Not As Complicated As It Sounds. Allow me to explain every small detail regarding SECP/FBR Preparation, since it is quite significant.

First, let’s Understand, What SECP Means

SECP is short for Security and Exchange Commission of Pakistan. In the beginning the SECP was responsible for the regulation of the Cooperate sector and Capital market. With time its authority has expanded and incorporated supervision and regulations of many businesses, for instance, Insurance Companies, Private Pensions and Non-Banking Finance Companies. The SECP has also expanded to the supervision of many external service providers to the financial and corporate sectors, it includes Credit Rating Agencies, Chartered Accountants, Brokers and many more.

What Does SECP Do?

SECP identifies the tactical importance of investor’s knowledge to create financial for the safety of investor’s rights and also increase the capability of making informed financial investments decisions. A investor’s knowledge augments his/her sophistication and also helps the financial services providers and regulators to maintain discipline in the market. SECP also educates investors the tactics to avoid risks that comes with different investment products. The objectives of the SECP are to; maintain a fair, disciplinary markets, promote strong corporate and insurance sector, protection of the rights of investors, facilitate capital formation and develop an efficiently dynamic regulatory framework.

Now, Have A Look At, What FBR Means

FBR is the abbreviation for the Federal Board of Revenue, which was previously known as Central Board of Revenue (CBR). The Federal Board of Revenue (FBR) or Central Board of Revenue (CBR) was created on the day, April 01, 1924. After independence, this action was continued up to 31st August, 1960 when on the suggestions of the Administrative Re-organization Committee, FBR was attached to the Department of the Ministry of Finance.

What Does FBR Do?

The Federal Board of Revenue (FBR) is a important government organization of Pakistan. Its job is to investigate money laundering and tax evasion crimes. The Federal Board of Revenue works with every individual and organization to strengthen the tax assessment in the country. The FBR has special duties that are fulfilled by tax inspectors who monitor tax evaders. The FBR accumulates tax evasion and do impressive management of tax laws for the government of Pakistan. The Federal Board of Revenue acts as Pakistan’s central agency of collection of revenue.
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