— Omer Zaheer,CFA,FCCA (@OmerZaheerMeer) April 23, 2017
Assalam O Alikum (Peace be on you),
The above is a picture from one of the events launching ACCA’s last pre-budget proposals. We’re planning for a revamp of the ACCA taxation committee and opening up to have some more competent professionals join us with their valuable contributions for the profession, country and their Alma-mater.
Below is the snapshot of a recent email from ACCA to members across Pakistan. Please feel free to share this in your circle and get in touch if you’re the right person.
Omer Zaheer Meer,
Millennium Law & Corporate Company
Peace be on you!
It’s with extreme pleasure that I announce that the prestigious Exceptional Public Value Award is to be awarded to myself by Ms. Helen Brand, OBE, CEO ACCA (the largest accountancy body globally). I’ll share the details with you after receiving the award, Insha Allah.
I’m honored by this privilege and grateful to ACCA for the recognition of my:
“contributions in the field of Budget and Taxation including but not limited to
- the drafting of Anti-Graft Legislation focused on Undisclosed Foreign Income & Assets which was later adopted by the Treasury,
- work done on the Regional Research Study on Indirect Taxation across South Asia and UAE,
- MOU’s with Tax Bars,
- Collaborations with Chambers of Commerce and Tax Bars,
- Pre & Post Budget proposals and seminars,
- continued member education events particularly on Taxation and
- opportunities created through R&I sessions with key employers.”
Last but not the least, I’m thankful to you all for your support and prayers particularly my parents, siblings, mentors, colleagues and friends.
Omer Zaheer Meer
It is with great pleasure that I share with you that ACCA’s report on ” Indirect Taxes – Current Trends across South Asia & UAE” has been published.
We at Millennium Law & Corporate Company are honored to be a part of this fantastic initiative and I’d like to take this opportunity to thank ACCA for their kind acknowledgement in the published version and otherwise.
Below are the direct link to the report and a brief summary of the report. I hope this is of benefit to you.
Please find below the link to the research report on ACCA’s website and share your kind feedback at email@example.com:
Below is a very brief summary of key highlights, courtesy ACCA:
Tax is an instrument used to generate revenue and regulate national economies, it can be broadly divided into two categories: direct and indirect.
In many developing countries the contribution of VAT – an indirect tax – in total tax collections is increasing over time. This can be owing to an increase in unemployment or low per capita income as well as to innate features of VAT that make it less prone to tax evasion than income taxes, which are easier to evade/avoid.
Given the importance of VAT, this study discusses its features and the problems commonly faced by South Asian countries. Further, we look at the United Arab Emirates (UAE) which is in the process of introducing VAT and may benefit from the developments made in the VAT systems of various other countries.
KEY RECOMMENDATIONS IN THE REPORT INCLUDE:
- Reduce tax concessions and tax amnesties, and avoid special regimes to protect the rudimentary character of VAT as a modern consumption tax.
- Limit exemptions primarily to health, education, charity and basic essential food items (excluding those supplied at restaurants and hotels, etc.)
- Use the services of VAT-experienced technical experts and professionals for smooth and trouble-free VAT implementation and management.
- Reduce compliance cost but attract optimal voluntary compliance by building incentives into the tax system.
- Share data among different government departments, organisations, institutions, authorities and agencies as well as between different government departments at regional and global level for BTB (broadening tax base) and anti-tax-evasion/avoidance purposes.
- Make the VAT system a seamlessly integrated unified tax management regime with preference for single hand and single rate tax administration with a uni-declaration mechanism (in countries where powers to collect VAT are divided between the central/federal governments and the state/provincial governments).
Sent: Monday, September 26, 2016 6:05 PM
Subject: Webinar on Foreign Account Tax Compliance Act (FATCA)
|The Foreign Account Tax Compliance Act (FATCA) is a recently implemented law which creates a new reporting and withholding regime for financial institutions but impacts individuals and other businesses too. FATCA, despite being a US regulation, has global implications as it effectively covers all US persons. State Bank of Pakistan (SBP), Pakistan Banks Association (PBA), Securities & Exchange Commission of Pakistan (SECP), individual commercial banks, non-bank financial institutions and other stakeholders in their respective capacities
It is a very important area for the banking and financial services sector, and equally important for professionals from other sectors and industries.
Keeping in view of our tradition of keeping our members and affiliates up-to-date on important professional developments, we’ve organized a session on this current and highly in-demand topic.
Mr. Omer Zaheer Meer is an experienced accounting, finance, management and economics professional holding FCCA (senior ACCA member), CFA Charter, the Anti-Money Laundering Specialization, BSc (Hons) in Applied Accounting and several professional certifications from UK along-with 15 years of experience gained in top management positions in leading British and Pakistani companies.
Currently, he is the Managing Partner at Millennium Law & Corporate Company (pioneer ACCA practising firm in Pakistan) and a Director on the board of multiple organizations. Mr. Meer is an experienced trainer having worked with esteemed organizations in corporate, public and academic sectors. His portfolio includes having conducted mandatory promotional trainings of Government Officers at MPDD (Punjab Govt) as well as conducting programs at National Bank of Pakistan (NBP), HBL, LCCI, LTBA, Bahria University (Pak Navy), UET, e.t.c.
He is a regular contributor to various national and international publications like Daily Nation, Daily Times, Express Tribune and Blue Chip magazine.
Mr. Meer is also a life member and third-time serving Chairman Liaison Committee of Lahore Tax Bar Association, Member of Global Taxation Forum (ACCA UK), Member MNP and Chairman of the Taxation Subcommittee of ACCA (Pak), Member Taxation Committee LCCI, Director Millat Thinkers’ Forum, Member Hamdard Thinkers’ Forum and professionally associated with globally reputed organizations like ACCA (UK), CFAI (USA), UKSIP (UK), PRIMA (USA), PRMIA (USA), MPDD (PAK) & www.mymfb.com
I. What is Money Laundering?
II. Sources of Black Money
III. Money Laundering – Method
IV. Notable Cases of Money Laundering
V. Anti – Money Laundering (AML)
VI. Effective AML System
VIII. FATCA Regulations (including for Individual/Sole Proprietorship Accounts, Entities
IX. Q & A Session
When and Where
The participation fee for this webinar is Rs.5,000 and can be paid at all the ACCA Pakistan Offices to the Customer Services representatives.
The fee is fully waived for ACTIVE ACCA Members and Affiliates.
Haroon A Jan
Head of Member Affairs
61-C Main Gulberg Lahore Pakistan
cel: +92 (0)300 8466 322
tel: +92 (0)42 3598 7022
fax: +92 (0)42 3575 9346
Breaking new ground by combining our world leading ACCA Qualification with a Masters…
AllahWasaya Textile Mills is part of Maqbool group and is one of the oldest textile mills in Pakistan. I specially traveled to the historic city of Multan for an R&I session with them, where I represented ACCA. The response was phenomenal and sat a new record for ACCA in Multan.
It was a fantastic session which was highly appreciated and resulted in increased awareness of modern reporting issues for the participants. The brand recognition was enhanced with material future benefits expected to accrue for the ACCA fraternity, the profession and Pakistan, InshaAllah.
Assalam O Alikum,
I’ve done my best for ACCA fraternity and believe in generating value through excellence.
Even during these elections, I met with employers, attended and contributed to Research & Insights, conducted trainings for Members, e.t.c. as generating value for ACCA fraternity is most important for me.
Below are some of the pictures from the engagements with key employers, representing ACCA and creating opportunities for ACCA fraternity.