According to Section 181E of the Ord. introduced through the Finance Act, 2022 through which all Company and AOPs are required to disclose and update their beneficial owner’s details.
In case there is no change in the beneficial owners of the Company or AOP shall furnish a “Certificate of Confirmation for Beneficial Owner” by prescribed in Form (BOF-02) through Board’s online system along with the Income Tax return to be filed for that tax year.
- Deadline of filing said form is 31st Dec. 2023
- A penalty of Rs 1 million will be levied for each default.
For further reference find S.R.O. 229(l)12023
https://download1.fbr.gov.pk/SROs/20232281925228758SRO229(I)of2023.pdf