Every Company & AOP adhere to Record of Beneficial Owners 's Income Tax Rules | S.R.O. 1117(I)/2023.

Dowloand S.R.O. 1117(I)/2023. from following link:
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The rules in this chapter shall be applicable for the purposes of section 181E of the Income Tax Ordinance,2001 (XLIX of 2001 ) providing for record of beneficial owners.
(2) Every company and association of persons (AOP), on its initial registration with FBR, shall electronically furnish the particulars of its beneficial owners to the Board as prescribed in Form BOF-01 of Part IXA of the First Schedule to these rules through Board's online system.
(3) Every company and AOP, already registered with FBR, shall electronically fumish the particulars of its beneficial owners to the Board on or before the 31't day of December, 2023, as prescribed in Form BOF-01 of Part IXA of the First Schedule to these rules through Board's online system.
(4) The record ofthe beneficial owners shall be updated whenever there is a change in any of the particulars of the beneficial owner as stipulated in Form (BOF-01) of Part IXA of the First Schedule of these rules, within 30 days from the date when the change occurs.
(5) In case ofnon-profit organization as deflned under section 2(36) ofthe Income Tax Ordinanc e,2001, the settlor, trustee, founder, promoter, beneficiary, class of beneficiary, as the case may be, will be the beneficial owners of the nonprofit organization:
Provided that where the beneficiary or class ofbeneficiary ofthe non-profit
organization is general public, the beneficiary or class of beneficiary of such nonprofit organization shall be exempted from the requirement of providing information of beneficial owners under this rule.
(6) In case there is no change in the beneficial owners of the Company or AOP throughout a particular tax year,, the Company or AOP as the case may, shall furnish a "Certificate of Confirmation for Beneficial Owner" to this effect as prescribed in Form (BOF-02) under Part IXA of the First Schedule to these rules through Board's online system along with the Income Tax return to be filed for that tax year.
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[@FahadAhmed-jh4ei]

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[@taxationistcorporateconsultant]

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