The Annual General Meeting (AGM) season is upon us, and for companies operating in Pakistan, this means ensuring timely and accurate filing of statutory documents with the Securities and Exchange Commission of Pakistan (SECP). This year, the process has been streamlined with the introduction of new forms and the enhanced eZfile platform. This post will guide you through the critical changes for the 2025-26 AGM season, focusing on the new Form A and Form 24, and the implications of the 'Late Filer' penalty regime.
Understanding the New SECP Forms: Form A and Form 24
In 2024, the SECP introduced updated forms to modernize its filing system. For the upcoming AGM season, the focus will be on:
- Form A (formerly Form 15): This form pertains to the Annual Return of Companies. It requires details about the company's directors, shareholders, and other relevant information as of the financial year-end.
- Form 24 (formerly Form 29): This form is for the Annual Statement of Affairs. It captures a summary of the company's financial position, including assets, liabilities, and share capital.
Familiarizing yourself with the specific requirements of these new forms is paramount to avoid errors and delays. We recommend reviewing the official SECP guidelines and resources for detailed instructions.
The Power of eZfile for Seamless Filings
The SECP's eZfile platform is designed to simplify the compliance process. It offers an integrated system for submitting various corporate filings, including the new Form A and Form 24. Leveraging eZfile can significantly reduce the time and effort involved in manual submissions.
Key benefits of using eZfile include:
- Online Submission: Eliminate the need for physical visits and paper-based filings.
- Real-time Updates: Track the status of your submissions instantly.
- Reduced Errors: The platform often includes validation checks to minimize data entry mistakes.
- Accessibility: File from anywhere at any time, provided you have internet access.
Ensure your company is registered on eZfile and that your authorized personnel are familiar with its interface. This will be crucial for navigating the 2025-26 AGM season efficiently.
Navigating the 'Late Filer' Penalty Regime (Finance Act 2025)
The Finance Act 2025 has introduced a stricter penalty regime for late filers. Companies failing to submit their mandatory filings, including Form A and Form 24, by the prescribed deadlines will face significant financial penalties. This emphasizes the importance of proactive compliance and adherence to schedules.
We strongly advise all businesses to mark their calendars and prioritize these filings. Procrastination is no longer an option, as the penalties can impact a company's financial health and reputation.
Suspension of Specific Tax Rules: A Temporary Relief
It is important to note that SRO 2392(I)/2025 has suspended certain tax rules until January 31, 2026. While this provides a temporary reprieve in some tax-related areas, it does not affect the statutory filing requirements with the SECP. Companies must still adhere to AGM season deadlines for Form A and Form 24.
2025/26 Compliance Master Calendar
To assist you in staying organized, here is a general overview of key compliance dates. *Please note that specific deadlines may vary based on your company's financial year-end and any official announcements from the SECP or FBR. This calendar is a guide and should not be solely relied upon.*
| Compliance Activity | Likely Period/Deadline | Relevant Authority |
|---|---|---|
| Financial Year End | Typically June 30th, or Company Specific | SECP/Company Policy |
| Annual Audited Financial Statements Preparation | Within 3-4 months of Financial Year End | Company Management |
| Holding of Annual General Meeting (AGM) | Within 4 months of Financial Year End | SECP |
| Filing of New Form A (Annual Return) | Within 30 days of AGM | SECP (via eZfile) |
| Filing of New Form 24 (Annual Statement of Affairs) | Within 30 days of AGM | SECP (via eZfile) |
| Filing of Income Tax Returns (Companies) | Generally by December 15th (for June 30th year-end) | FBR |
| Filing of Sales Tax Returns | Monthly (by 15th of the following month) | FBR |
| Provincial Revenue Authority (PRA) Filings | Varies by province and tax type (e.g., monthly, quarterly) | PRA |
| Professional Tax Filings | Varies by province | Provincial Authorities |
| NTN Registration Renewal (if applicable) | As per FBR guidelines | FBR |
Key Takeaways for the 2025-26 AGM Season:
- Early Preparation: Begin gathering the necessary information for Form A and Form 24 well in advance.
- Master eZfile: Ensure you are comfortable using the eZfile platform for your filings.
- Strict Adherence to Deadlines: Avoid penalties by filing on time.
- Stay Updated: Keep abreast of any new SECP or FBR circulars and updates.
Navigating corporate compliance can be complex. If you require assistance with company registration Pakistan, SECP company registration, or any other corporate legal services Pakistan, our team of experts is here to help you register your business in 7 working days. We offer comprehensive solutions for Private Limited company registration Pakistan, Single Member Company registration, and more, ensuring your business remains compliant and focused on growth.
Frequently Asked Questions (FAQs)
- Q1: What is the deadline for filing Form A and Form 24 for the 2025-26 AGM season?
- The general deadline is within 30 days of holding your Annual General Meeting (AGM). However, the AGM itself must be held within 4 months of the financial year-end. It is crucial to confirm your specific deadlines based on your company's financial year-end and any official SECP announcements.
- Q2: Are there any exemptions from filing Form A and Form 24?
- Exemptions for company registration and filing are typically granted under specific circumstances and are subject to SECP approval. It is advisable to consult with a corporate law expert or refer to the SECP's official regulations to determine eligibility for any potential exemptions.
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Written by the expert legal team at Javid Law Associates. Our team specializes in corporate law, tax compliance, and business registration services across Pakistan.