Building the Future – Contributing to the Society & Profession

Mr. Meer at one of the top Universities of the Country, at the conclusion of the semester for MBA Finance. He also guided them with important professional and career advisory, sacrificing his weekends for several months.

Outstanding feedback with smiles all around. He has been requested by the CR to continue for the next semester  along-with praise from the HOP & Director.

He shared:

” Glad to have delivered knowledge, skills & expertise for them to contribute in building a better Pakistan & World Insha’Allah!”

CF 4

Please feel free to interact and share your kind feedback:


OZM’s Profile

OZM’s Twitter Profile         

MLCC Website                (Under Construction)

OZM’s LinkedIn Profile    


The Moments – Exceptional Public Value Award (ACCA)

The exact moments of Mr. Omer Zaheer Meer receiving the prestigious “Exceptional Public Value Award”, granted by ACCA, the largest global accountancy body, in recognition of his outstanding services for the profession and fraternity.

OZM’s Introduction

Ms. Helen Brand, the CEO of ACCA specially flew in from UK and bestowed the honor herself. Mr. Haroon Jan, the Regional Head of Members Affairs is seen accompanying Ms. Brand while Mr. Hammad Azim, the Country Head of Marketing is himself making the announcement.

A proud moment for global accountancy profession, particularly for the ACCA fraternity as well as for Pakistan!

Please feel free to interact and share your kind feedback:


OZM’s Profile

OZM’s Twitter Profile         

MLCC Website                (Under Construction)

OZM’s LinkedIn Profile    

Session on Taxation with “Think Ahead with ACCA”

Below is another session on “Taxation” with “Think Ahead with ACCA”.

Honored to be back again on the platform, after doing the record-breaking inaugural program on #CPEC with #ACCA, the largest global accountancy body.

Hope this delivers value.

Please feel free to interact and share your kind feedback:


OZM’s Profile

OZM’s Twitter Profile         

MLCC Website                (Under Construction)

OZM’s LinkedIn Profile    


Taxation Trends in Pak in the Need for Reforms

The following write-up was published in the Jan-Mar 2018 Quarterly Edition of “Policy Insights”, the largest global accountancy body ACCA’s regional publication covering MENASA

Link: ACCA’s Policy Insights’ Published Link

Link: Main Page

Fiscal Reform: Taxation Trends in Pak in the Need for Reforms

By: Omer Zaheer Meer

Taxation laws are set of laws to derive revenues for the Government to function & service the citizens with the aim of improving their quality of life while continuously improving the facilities and infrastructures provided. Pakistan has a complex taxation system with a focus on indirect taxes with over 70 different taxes. This has led to several sets of laws dealing with specific taxation areas. Below are some major issues highlighted in need for major fiscal reforms:

  • Extremely Low Numbers of Income Tax Returns Filers:

From approximately 1.32 million income tax returns filers in tax year 2016 to fewer than 1.3 million as per last available data in 2017 is an area of major concern. In a country of over 220 million, this amounts to just 0.6% of the total population.

  • Undocumented, Black economy:

This builds up from the above issue of low return filers. A larger proportion of the economy, some estimates put the number close to 100% of the GDP. This by any standard is massive and a point of major concern.

  • Taxation Complexities and Ease of Doing Business:

As mentioned above, Pakistan has a very complex tax system and the recently released data by the World Bank has placed the country on a ranking of 147 out of 190. The complex, non-harmonized and multi-layered laws in operations not only make it more expensive but also time-consuming for the businesses.

  • Harmonization Issues:

The issue of lack of harmonization among various laws increased many-fold post the devolution of Sales Tax on Services regulation and administration to the provinces and each Province setting up its own Revenue Authority for the same. In an era, when countries are agreeing to facilitating arrangements on the likes of European Economic Area, making borders irrelevant in terms of economic activities, Pakistani businesses are facing the traditional challenges while expanding their businesses in other provinces within the same country.

  • High Costs of taxation:

In addition to having one of the most complex taxation systems in the world, Pakistan also has high taxation rates compared to other countries in the region. Furthermore the taxation rates are also several times that of the cost of tax avoidance in the country, making it an attractive proposition for some businesses to keep operating beyond the radar of the legal economy. Moreover, the highly complex nature of the taxation regimes also translates into further costs for taxpayers in terms of the time and administration required to ensure compliance.

  • Structural Issues:

The structural issues including confusing and highly subjective laws, focus on indirect taxes, the improvable systems, mal-practices, singular focus on revenue collection, harassment of the existing taxpayers rather than using the same resources to focus on expanding the tax base and a general ill-perception have all contributed to the current state of affairs and needs to be reformed if the situation is to improve.

  • Conclusion:

The above issues are requiring serious efforts to address the critical issues concerning the taxpayers particularly the businesses in the country. With CPEC and its associated possibilities materializing, now is a good time to ensure these reforms are put to action to achieve the full potential of not only the existing economy but also the developments accruing. We’ll discuss the possible proposals for reforms in the next issue. Till then, we leave our readers to ponder over these issues.


The writer is a leading economist who is also a qualified chartered certified accountant, chartered financial analyst and anti-money laundering expert. He’s sits on the Global Tax Forum of ACCA and is the sitting Chairman Liaison Committee of LTBA and ACCA’s Taxation Committee in Pakistan. He can be reached on Twitter and @OmerZaheerMeer or

Recognising our regular contributors…
Nayeema Bashar receives a certificate of appreciation and Omer Zaheer Meer wins Pakistan’s national Member Advocacy Award.


Inefficiencies failing the Tax Apparatus in Pakistan

The following write-up was published in the Oct-Dec 2017 Quarterly Edition of “Policy Insights”, the largest accountancy body ACCA’s regional publication covering MENASA

Link: ACCA’s Policy Insights’ Published Link

Link: Main Page

Inefficiencies failing the Tax Apparatus in Pakistan

(by failing the genuine Taxpayers)

Federal Board of Revenue (FBR) is a semi-autonomous federal institution that is responsible for auditing, enforcing and collecting revenue for the government of Pakistan. It’s one of the most critical components of the revenue collection apparatus in Pakistan. As such it is supposed to be the pinnacle of professionalism, discipline and support to tax payers.

During the last budgetary season, Chairman FBR invited this writer, while representing ACCA (UK) and LTBA at a historic pre-budget seminar that was organized with the collaboration of ICAP, ICMAP, ACCA, LTBA, PTBA, LCCI and several other Tax Bars, to send him proposals about the issues in and reforms for FBR. Below is a brief overview from that perspective.

Currently there are approximately 1,210,000 active income tax return filers as per the FBR directory issued in August 2017, out of a population of roughly 218 million in Pakistan. This is a meager 0.55% of the total population. A huge proportion of these filers, file NIL returns is another topic. On the other hand every Pakistani is paying indirect taxes on whatever they consume. The evident lack of trust of the taxpayers on the system and the resulting regressive taxation policies are a big hindrance in the attainment of an optimal taxation system. We’ve often discussed the problems with the taxation policies in Pakistan and proposed practical solutions. Frankly speaking there is only so much FBR can do in this regard since the policies are often driven by the IMF, World Bank and/or the political interests in the country. However the areas where FBR can and should play a very effective role are not in the best of states either.

Considering the tiny tax base it was only natural for FBR to attempt to broaden it. However the way they went about it, has been unprofessional to say the least while messing up a good endeavor big time. Notices claiming no existing tax registration based on “economic activities”, usually citing vehicle purchases were sent out to masses. Sounds positive? Hang on, what if it’s shared with you that many of those receiving these notices were not only tax payers already registered but paying millions in Income Taxes annually? This exemplifies a total lack of coordination within the systems and functions of FBR, which is unfortunately becoming a norm of late. Missing out on the records already held by FBR simply reinforces the misconceptions amongst the tax payers that FBR is out to bother already registered tax payers instead of acting as a facilitator and initiating genuine drives to catch tax evaders.

What’s tragic is that while on one hand such steps are undertaken citing the need to broaden the tax base but on the other hand proposals with huge potential to broaden the tax base such as bringing agricultural income and other exempt sections within the tax net as well as converting the CNIC into National Tax Numbers (NTN) and Sales Tax Registration Numbers (STRN) for broadening the tax base have been falling on deaf ears for almost a decade now.

To underline the vast difference in the workings of FBR and similar bodies in developed countries, a personal experience is hereby shared with the readers to illustrate the significant gulf between the international standards and the ones practiced in our beloved country. While working in UK, I needed to change my tax code. For ease of understanding you can say it was like claiming a tax refund and I was not even a British national. It took me one phone call to UK’s HMRC (Her Majesty’s Revenue and Customs) during my office lunch hour to get it done by the end of the lunch. Yes, just in less than an hour. Now compare it to the experience of genuine tax-payers in Pakistan who are ridiculed and abused for even minor genuine tax affairs. Presumptive and advance taxes are collected but when it is time to issue refunds in line with the law, actual due refunds are held for months and even years despite completion of all legalities and verification. What is worst is that in most cases the FBR officials verbally accept the cases as genuine but claim that due to the pressure to meet revenue collection targets they are unable to follow the law and deliver the tax payer their due right.

The problem manifests from the nepotism and non-professional attitudes of some officers who treat tax-payers with utmost contempt instead of the dignity they deserve. Un-realistic targets setup by higher-ups then further aggravates the matters with coercive, non coordinated and even illegal measures used by certain sections within FBR. The widespread corruption within the department further worsens the matters.

It’d be reasonable to point out that although PRAL (Pakistan Revenue Automation (Pvt) Ltd) does mess up things at times, many of its’ positive endeavors were blocked for fears of eradicating corruption using different pretexts by certain sections of FBR. For example, PRAL once finalized a completely automated system of issuing refunds to tax payers with even an online payment instrument. Naturally there was a huge hue and cry. The project was dumped and the corrupt manual practices continue to date.

Now as if all this was not enough, even the laws governing the whole taxation system are made mockery of within FBR by several officers undermining the good work and efforts undertaken by their more professional colleagues. Just ask any genuine tax payer or tax practitioner about the treatment meted out to them by most FBR officials and you’d be shocked. Due to limited space, this topic will have to be continued in future write-ups.

As for now, perhaps the policy makers and senior FBR officials should consider this dire situation seriously to rectify all the serious problems within FBR. If they fail to do so, the next time they complain about low proportion of tax payers in Pakistan as compared to UK or other developed countries, they should realize that they only have themselves to blame. 

About author:

The author is Director of the think-tank “Millat Thinkers’ Forum”. He is a leading tax expert, experienced fellow Chartered Certified Accountant CFA Charterholder, and anti-money laundering specialist with international exposure who can be reached on Twitter and @OmerZaheerMeer or

Who Needs to file Income Tax Return?

Image result for become filer pak

You need to file your annual Income Tax Return in Pakistan if you fall within the ambit of any of the following:

  1.   Registered Taxpayers (NTN holders)
  2.   Those charged tax in tax years 2015, 2016
  3.   Welfare Institutions or NPOs (defined in ITO 2001)
  4.   Annual (non-business) income of PKR 400,000 or more
  5.   Annual business income of PKR 300,000 or more
  6.   All companies with financial (accounts) closure of before 31st December 2016
  7.   Owners of 250 sq yards  or more land or flat of any size within    Cantt/Municipal/ICT jurisdiction
  8.   Owners of 500 sq yards  or more land (outside Cantt/Municipal/ICT jurisdiction)
  9.   Flat Owners of 2000 sq ft or more covered area
  10.   Owners of vehicles over 1000cc
  11.   Anyone sent notice(s) to file return

Here are some of the major financial benefits of filing your Income Tax Return

Want to file your Income Tax Return?

Contact us now for:

Best quality services by top professionals including:

qualified lawyers,

chartered and chartered certified accountants,

chartered financial analysts and

tax experts

Millennium Law & Corporate Company (MLCC)

(the pioneer ACCA practising firm in Pakistan)

Bashir Mansion, 2 Turner Road, Adjacent AG Office, Lahore

Call: 042-37242434 / 0322-4219292 (prefer text),  Email:

7 Financial Benefits of becoming a FILER

Image result for 7 Financial Benefits of becoming a FILER in Pak

Below are the seven (7) major financial benefits of becoming a Filer in Pakistan:

  1.  Lower rates of advance income tax deducted at source by banks (on interest/profits) and on banking transactions
  2. Savings on withholding tax deducted when registering and transferring motor-vehicles
  3. Lower rate of tax on sale/purchase of property transactions
  4. Rebates/reduction in tax on payment for goods, services and contracts
  5. Lower tax on dividend
  6. Reduced withholding tax on capital gains accrued on sale of securities
  7. Reduced rate of withholding tax on prize bond winnings and decreased rate of collection under commission and brokerage.


Contact us now for:

Best quality services by top professional team of qualified lawyers, chartered and chartered certified accountants, chartered financial analysts and tax experts:

Millennium Law & Corporate Company (MLCC), 

(the pioneer ACCA practising firm in Pakistan)

Bashir Mansion, 2 Turner Road, Adjacent AG Office, Lahore

Call: 042-37242434 / 0322-4219292 (prefer text),  Email: