Mr. Omer Zaheer Meer attending a television program on taxation and is introduced as Member Global Tax Forum & Chairman MNP & Taxation Subcommittee, ACCA
Prophet Muhammad (SAWW/PBUH) said: “Seek knowledge from the Cradle to the Grave”
After tremendous response and with thousands of professional accountants (#ACCA members) having registered and attended the four (4) CPD sessions of the ongoing #2020 CPD series, we’ve been receiving many queries about the recordings of the CPD sessions particularly by those who couldn’t attend.
Although you won’t be able to interact or have a Q&A session but still you’d be able to benefit from the recordings.
Please find below the details and links in this regard:
Link of Youtube Channel: http://www.youtube.com/channel/UCYtxMRR_ryZMhuSOauB1IIQ/videos?view_as=subscriber
Filing of an Appeal to Appellate Tribunal
Date of release: 05th April 2020
Tax Laws (Second Amendment) Ordinance, 2019
Date of release: 07th April 2020
Filing of Income Tax Return
Date of release: 09th April 2020
We hope this will add value during this challenging time and help improve your skills further.
Please share in your circle to spread knowledge and subscribe to keep updated for future shares.
Omer Zaheer Meer
Managing Partner, (Taxation & Corporate Services), MLCC Member, Global Tax Forum (UK) Chairman MNP & Taxation Subcommittee (Pak), ACCA Member, Editorial Board, Policy Insights, MESA, ACCA
Dear Members, Readers, Friends & Colleagues,
Convert your free time during the ongoing pandemic into a BLESSING.OZM
LEARN PROFESSIONAL EXCELLENCE THROUGH COMPLIMENTARY #2020 SERIES CPDS
During these challenging times, we as professionals, continue to strive to deliver value and ensure that our fraternity is both up-to-date and have the necessary skills to succeed in the ever changing and fast paced business environment. This is vital to ensure both productivity as well as optimism, in these testing times.
In this regard, I’m honoured to be able to deliver a series of CPD training sessions on various topics for ACCA, In Sha Allah.
ACCA, being the largest global accountancy body, brings to you a series of sessions on Taxation laws, rules and acts & soft skills to spread knowledge and awareness about these key skills and knowledge areas amongst our members.
Below are the links outlining details of the first “six” CPD sessions in this regard. You (active ACCA members) should have received the emails for these too and there is absolutely NO charge for you to attend.
2020 Series CPD # 1: Tax Laws (Second Amendment) Ordinance, 2019(Retail Businesses)
2020 Series CPD # 2: Filing of Income Tax Returns (Overview)
2020 Series CPD #3: Filing of An Appeal to Commissioner Appeals
2020 Series CPD #4: Filing of An Appeal to Appellate Tribunal Inland Revenue (ATIR)
2020 Series CPD # 5: Benami Transactions (Prohibition) Act, 2017
2020 Series CPD # 6: Benami Transactions (Prohibition) Rules, 2019
Do register and share this message with others who may find this useful. This will be your contribution in these testing times for our common fraternity.
Omer Zaheer Meer
Unemployed or awaiting a promotion/pay rise?
Facing other challenges in your career? Watch & learn to excel.
افراد، تنخواہ دار افراد اور ایسوسی ایشن آف پرسنز کے سال 2019 کے ٹیکس گوشوارے جاری کر دیئے گئے ہیں #FBR
File your #IncomeTaxReturn2019 & become a #filer.
Contact us at #MLCC for a seamless, professional & exceptional experience where experienced & top professionals including FCCAs, CFAs, FCMAs, CPFAs, CAs & Advocates will ensure that you all your matters are taken care of with highest standards of excellence.
For more details:
Links of Published Versions of Article:
Omer Zaheer Meer,
CFA (USA), CPFA (UK), FCCA (UK), ACA (ICAEW – UK), AMLE (UK)
Even before Prime Minister of Islamic Republic of Pakistan, Mr. Imran Khan sat foot on the US soil, his charm offensive began. Undoubtedly it was a difficult trip. USA and Pakistan had grown apart over the years with the mistrust increasing by the day. From Salala to Aafia to Shakeel Afridi to nurturing the “eternal enemy” of Pakistan to siding with the Afghan Taliban, it was a downhill journey filled with complaints by both sides. Trump took office, believing he can do what none other could and make Pakistan dance to his tunes, even at the cost of our national interests. As the time passed and the global geo-political landscape started shifting, perhaps so did the advice he received and his perceptions.
Still, it was the Pakistan that India was up against and mind you, India has the economic “might” and swayed USA to its ways. Narendra Modi spent over 2000 crores building a campaign of “global isolation” targeting Pakistan with all his political experience, “wisdom”, economic might and strategic alignment with USA.
Then, along came Khan and it all changed. He delivered for Pakistan what no Pakistani Prime Minister before him could, even in more conducive circumstances and he did it with dignity and poise.
The first master stroke was delaying the IMF program and strengthening ties with Turkey, Kuwait, China, Iran, KSA, UAE, e.t.c. showing the USA that Pakistan can survive sans its aid and influence and will only talk on equal terms without having to compromise on its national interests for peanuts.
The next outstanding and brave move was to hold a public gathering in an arena in the USA, something that no Pakistani Prime Minister had ever done. Indian Prime Minister Narendra Modi did it with extensive resources and PR machinery. Khan did it better without any of that. He took commercial flight with a small team, stayed at Pakistan’s embassy and his party PTI organized the public gathering on its own.
This was not all. Khan used the opportunity brilliantly to pre-emptively counter the narratives of the opposition by highlighting his anti-corruption drive back home as well as his vision for a rising Pakistan. The results were astounding. Trump in his meeting, wished him success for his anti-corruption drive and couldn’t help but keep using the term “very popular leader” for him. Trump seemed to have been trumped by Khan. The opposing narrative built carefully and with the help of expensive PR firms died before it could even begin during this trip.
Put simply, Imran Khan won over the United States of America even before he and Donald Trump spoke about the key issues facing both countries and laid the groundwork for a proper and long-term bilateral relationship. In the words of Adam Gerry:
In a country (USA) that since 9/11 was programmed by the controlled news media to hate Islamic Republic of Pakistan, in the same country where Islamic societies are often misunderstood and in a country where arenas are usually filled with sporting or music events rather than anything remotely political, Imran Khan stole the show. Even if his rally was played for few seconds on America’s notorious television news programs, this has been a great victory for Pakistan. Because all it takes are a few seconds of footage from that Imran Khan rally to change perceptions of Pakistan from one that is wholly negative to one that is self-evidently optimistic and indeed one that is truly inspirational.
Prime Minister Khan has done something for Pakistan that let alone his countrymen or contemporaries, even the European allies of the USA find hard to do. He conquered the heart and soul of America with his charm offensive coupled with his dignity and topped up with his poise and sincerity.
Even forgetting Khan’s confidence and poise or even wearing of the national dress of Pakistan and the game-changing public gathering in USA, the way he put forth Pakistan’s case and advocated for us all was heartening.
He was put a tough question on Iran and handled it intelligently, keeping a balance and pushing forward the case for peace in the region. Faced with the question about 3000 American deaths in Afghanistan, he reminded the world of over 70,000 Pakistani lives lost. Asked about Shakeel Afridi, he raised the issue of Aafia Siddiqui just as he had promised to do.
That was not all, faced with questions, planted to attack the institutions, he brilliantly defended Pakistan. On the issue of PTM activists, he highlighted the initiatives taken for FATA including the mainstreaming and the breach of law by PTM activists. It was not just that he did it all without any paper slips but that he did it in a manner which reflected his sincerity, confidence and conviction. And these were what won over the Americans just like they won over the Pakistanis.
Some critics pointed out that he did not get any “money”. They’re right. Infact he openly shared that he didn’t even ask for any aid but he won something much greater for Pakistan. He won the respect of the global super power and the western world with a seat for Pakistan on global stage ensuring Pakistan is both heard and respected. And let me share, if handled properly, this foundation laid by PM Khan during his maiden USA visit can lead to a dynamic and successful foreign policy leading to long-term economic and trade benefits for Pakistan.
The writer is a leading economist and experienced tax expert who holds five top professional finance, investment and accountancy qualifications CFA (USA), CPFA (UK), FCCA (UK), CA (ICAEW) & Anti-Money Laundering specialization along-with substantial international exposure and represents Pakistan on Global Tax Forum while sitting on the boards of several think-tanks. His profile can be accessed at: https://omerzaheermeer.wordpress.com/about
Links of Published Versions of Article:
Omer Zaheer Meer,
CFA (USA), CPFA (UK), FCCA (UK), ACA (ICAEW – UK), AMLE (UK)
Continuing from the last week, Allama Muhammad Iqbal, the sage of the nation, further pointed out the key problems as well as their workable solutions as outlined below:
5. Opportunity Cost
In economics the opportunity cost is the cost of the opportunity lost in order to avail another one. For example if we build a plaza on an agricultural area where we could alternatively cultivate wheat, the opportunity cost of building the plaza would be the lost production of the wheat for the foreseeable future which we could have alternatively done and made use of. This needs to properly considered in all economic decisions. It’s good to see that PM Imran Khan has taken a leaf from Iqbal’s philosophy and incorporating that within the construction bye-laws prohibiting construction on agri-lands, hence accounting for the opportunity costs regarding food safety.
Pakistan is caught up in the crisis of underdevelopment in the face of vast unlimited resources. One important strategy to adopt as per Allama Iqbal is austerity, as a guiding inflexible rule to allow resources to go into economic construction. Iqbal was a great champion of this cause and recommended it time and again. This, besides other factors help in building public trust. PM Imran Khan also champions this idea to build public trust.
7. Land Reforms
Iqbal didn’t shy away from the controversial topic of land reforms either. Infact, he backed these reforms to facilitate the oppressed class of peasants. It will be a befitting tribute to the memory of Iqbal if we develop an equitable system of agriculture in which the cause of peasants is well looked after for ensuring social justice for the peasants and for making a major break-through in boosting agricultural production.
Iqbal argued for radical reforms arguing that land as a means of production should be owned by the society for the benefit of all. “al-Ardu Liliān” (“The Earth is God’s”), is a poem in Bal-i-Jibril, which sums up this idea about land ownership.
یہ زمیں تیری نہیں، میری نہیں!|
تیرے آبا کی نہیں، تیری نہیں، میری نہیں!
(To God, this land is not yours, nor mine,
Not thy ancestors’, not yours, nor mine)
” If these core elements of Iqbal’s economic philosophy are properly implemented, there is no reason why Pakistan cannot progress on the path of economic prosperity “
8. Rural Development
Iqbal also argued that the development of rural areas is at the heart of the economic and social development of a country. He analyzed that it does not only mean agricultural growth but it’s also about improving of the economic and social conditions of the rural population by way of rising incomes and providing them with necessary amenities like good houses, paved streets, water supply and sewerage, health services, education, roads, power, communication,’ etc.
9. Industrial Development
The cause of industrial development was very close to Iqbal’s heart. He considered the development of industries essential for mitigating the curse of unemployment. On many international platforms there were talk of indigenous technology during his era, which are now wrongly associated with Mahatma Gandhi. The historical fact is that Iqbal was the author of this concept at the time. Examine the excerpt below from one of his speeches:
“We spend practically nothing on industry. And as I have said before and as many other speakers have pointed out, industrial development alone can save us from the curse of unemployment. There is a good future for weaving industry and for shoe-making industry in this province and if we encourage these industries, I think we shall be able to save the province from unemployment, provided we protect these industries against Cawnpore and Ahmedabad.”
10. Skilled Workers
Iqbal was unequivocal on this issue. He said that Muslims must take to industry and craftsmanship. “In my eyes,” declared Iqbal, “the hands of a carpenter, rough and coarse due to the constant use of the saw, are far more attractive and useful compared to the soft and delicate hands of a scholar, which never carry more than the weight of a pen.”
11. Global Exploitation
Furthermore, Iqbal had also analyzed protective trade tariffs and global economic exploitation of weaker nations by the stronger ones. His couplet below depicts his state of mind regarding the exploitative attitude of the Western economies and his dreams for the economy of Pakistan:
دیار مغرب کے
رہنے والو خدا کی بستی دکاں نہیں ہے|
کھرا جسے تم سمجھ رہے ہو وہ اب زر کم عیار ہوگا
(O, Residents of the West! God’s earth is not a shop;
The gold you think to be genuine, will now prove to be debased)
To sum it up, the key principles of Iqbal’s economic model are as below:
- Having strong bond of trust between the state & citizens (core issue of Pakistan particularly in the context of the revenue collection agencies).
- Human Capital & Human Development (which is a key with the present youth bulge in Pakistan).
- Interest Free Business Eco-System (this warrants a detailed writeup but Akhuwat’s model is something we can begin with as a recent success story to replicate, beginning with pilot projects).
- Poor Centered Policies (inclusive economic policies resulting in justice and peace which in turn produce a conducive business environment leading to economic upturn).
- Self-reliance which is the core of Iqbal’s philosophy and economic model.
If these core elements of Iqbal’s economic philosophy are properly implemented, there is no reason why Pakistan cannot progress on the path of economic prosperity. How can that be done and where to begin with are the concluding areas we’ll discuss in the last part of this series.
The writer is a leading economist and experienced tax expert who holds five top professional finance, investment and accountancy qualifications CFA (USA), CPFA (UK), FCCA (UK), CA (ICAEW, UK) & Anti-Money Laundering Specialization along-with substantial international exposure and represents Pakistan on Global Tax Forum while sitting on the boards of several think-tanks. His profile can be accessed at: https://omerzaheermeer.wordpress.com/about