Regulatory Alerts2020-06-18 | Circular No.3Added · Updated
Guidelines for Financial Institutions on Tax Amnesty Scheme for Construction Sector
The Federal Government has introduced a tax amnesty scheme for the construction sector via the Tax Laws (Amendment) Ordinance No. 1 of 2020. Financial Monitoring Unit issued these guidelines to prevent the misuse of the scheme for laundering criminal proceeds or financing terrorism. All reporting entities are mandated to ensure strict compliance with these Anti-Money Laundering and Countering Financing of Terrorism requirements.
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