SECP revises down fees

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has substantially decreased the fee for the formation of a company, as well as for the filing of returns being charged under the Sixth Schedule to the Companies Ordinance, 1984, effective from May 31, 2016, a statement said on Tuesday.

This step has been taken aimed at bringing the non-corporate business into the corporate fold, as well to incentivise the existing companies, it said.

Through the SRO, notifying the rationalisation, the SECP has made significant reduction in the first slab of the capital fee for new incorporation cases to Rs1,000 for online and Rs2,000 for offline submission from Rs2,500 and Rs5,000, respectively, translating into 60 percent reduction.

Besides some of the slabs of the capital fee have also been rationalised.

The SECP has also made significant reduction in the returns filing fee, particularly for small sized entities, by introducing capital-based filing fee, starting from as low as Rs250 for online and Rs500 for offline submission, replacing the existing structure of fixed filing fee of Rs600 and Rs1,500, respectively.