ACCA Council Election 2020 – Omer Zaheer Meer

ACCA Council Election 2020 – Omer Zaheer Meer

Foreword:

My belief is that those of us fortunate enough, have a duty to give back to the profession and humanity. It’s not a favor to anyone but a blessing for our own-self.

It’s an honor to put myself forward for Council election, having been very actively engaged with ACCA. My ACCA advocacy, began in student society in 2003 and turned a leaf in London after becoming a member in 2008.

I’ve been ACCA’s Network Panel Member (Pakistan) member since 2015 and honored to be its first ever unopposed and unanimously elected Chairman (since 2018), representing its 40,000 members, affiliates and students.

My numerous contributions have been recognized by the award of ACCA’s Exceptional Public Value award (twice) and National Advocacy award. I’ve evolved from national to regional to global levels and learned about ACCA’s unique vision, workings and adaptability.

I’ve held many leadership positions besides being a managing partner at MLCC.

My Profile: https://omerzaheermeer.wordpress.com/about/

Existing Key contributions: https://omerzaheermeer.wordpress.com/2020/10/07/omer-zaheer-meers-existing-key-contributions-for-acca/

Commitment & Manifesto:

https://omerzaheermeer.wordpress.com/2020/10/08/manifesto-for-acca-council-2020-omer-zaheer-meer/

Conclusion

I’ll act on behalf of all members to ensure that the future direction of ACCA continues to address the evolving needs of our members and all stakeholders while championing the highest ethical standards.

 Please vote and support me and let’s “Think Ahead” together.

Thank you.

Manifesto for ACCA Council 2020 – Omer Zaheer Meer

Manifesto for ACCA Council 2020 – Omer Zaheer Meer

Commitment:

In view of the unique challenges due to COVID-19’s global implication, I commit to bring to Council:

  • continued selfless devotion and passion for ACCA fraternity,
  • tax and corporate laws specialization,
  • 14 years’ plus crisis management experience at board & public sector level,
  • governmental level policy making experience,
  • ideas to capitalize on the fast evolving regulatory and tax framework culminating from China-Pakistan Economic Corridor with exciting economic possibilities,
  • extensive experience on the boards of various think-tanks,
  • insights from extensive interactions with ACCA members across the globe and
  • a fresh perspective.

If successful, I’ll continue to work with utmost honesty, dedication and unrelenting passion to contribute to the ACCA community in the following ways:

Vision:

  • Provision of relevant CPDs and/or courses for capacity building to equip our members with vital skills in a fast evolving enviornment particularly for current and upcoming technologies, allowing them to progress in their careers.
  • More work towards increasing earning potential of ACCA members globally using successful initiatives such as “six digits” and “two-week-too-strong”.
  • Generating more career opportunities for members by proposing initiatives involving working closely with and facilitating employers in hiring ACCA members.
  • Strengthening mentoring programs for members for their professional and career development.
  • Promoting closer networking opportunities amongst members.
  • Collaborations with regulators and other professional bodies to enhance recognition of ACCA.
  • Work towards introduction of local taxation variants in various markets .
  • Promote ACCA brand globally, thereby creating more value for members.

I’ll act on behalf of all members to ensure that the future direction of ACCA continues to address the evolving needs of our members and all stakeholders while championing the highest ethical standards.

Omer Zaheer Meer’s Existing Key Contributions for ACCA

Omer Zaheer Meer’s Existing Key Contributions for ACCA

Besides:

  1. Sitting and contributing on the ACCA Global Tax Forum (5 Years+),
  2. Contributing on the ACCA International Assembly (3 Years+),
  3. Being a member of the Editorial Board of the MESA publication of ACCA’s Policy Insights (2 Years+) and
  4. Working with global policy teams and regional members’ affairs teams of ACCA on various initiatives.

Mr. Omer Zaheer Meer also:

  1. Spearheaded a comprehensive CPD program particularly focused on local laws and taxation, topical techonologies including Artificial Intelligence, Big-Data, Data Analytics, Blockhain, presentation skills, leadership, effective communication, e.t.c. to equip members with the necessary skills for their growth. This resulted in more opportunities and increased members satisfaction.
  2. Worked tirelessly to get MOUs signed with various Tax Bars, opening up new and exciting career opportunities for ACCA members in the lucrative taxation practice. This enhanced the recognition of ACCA in the market.
  3. Proposed and led by personal participation in the 30 days, 100 employers initiative to ensure more reach of ACCA and a stronger brand leading to more employment opportunities for ACCA fraternity.
  4. Proposed, Launched and Personally ran “Tax Clinic” with Chamber of Commerce and Industry leading to a strong partnership to ensure that ACCA brand is recognized by top business leaders, leading to more employment opportunities for our fraternity.
  5. Interacted and assisted #Regulators leading to enhanced collaborations and brand recognition for ACCA.
  6. Assisted #FinanceMinistry with key inputs and proposals.
  7. Developed and contibuted in a very effection #MentoringProgram.
  8. Created #Upskilling Programs.
  9. Focused on increasing earning potential of our fraternity by proposing and then contributing in absolutely free of cost ground breaking initiatives such as “Six Digits” and “Two-Week-Too-Strong” programs which have been resounding successes leading the participants to secure incomes in six digits and/or marked rises. Infact, the pilot program has been so successful that in the second edition more than 1200 ACCA fraternity members have availed this program.
  10. Personally mentored thousands of members, affiliates and students over the past decade.
  11. Represented and/or introduced ACCA at various forums including Chambers of Commerce and Industry, Tax Bars, Financial Institutions, Regulators and other professional institutions such as LCCI, KCCI, KTBA, LTBA, MTBA, PTBA, NRSP, MPDD, UET, MCB, NBP, IBP, several think tanks – being on their boards, e.t.c.
  12. Pioneered #WhatsApp groups for #membersnetworking and #connectivity.
  13. Initiated other unprecedented forums including using social media tools for ACCA community’s interactaction with each other and the ACCA officials with ease.
  14. Conducted #career orientation & other sessions for #students to opt for #ACCA,
  15. Helped launch and personally contributed in the #ProfessionalExpertsForum for subject matter experts to guide #ACCA fraternity as well as brand recognition and much more.
  16. Proposed, assisted and worked towards the practicing certificate launch in Pakistan for ACCA fraternity (was the first one to be awarded one) by then ACCA President.
  17. Conveyed the members sentiments to the ACCA officials and various decision makers as Chairman of MNP. Interacted with the decision makers and made efforts to link these sentiments with the ACCA strategy. This lead to various support measures during the Covid-19 by ACCA, including the increase in the income level allowed for claiming subscription assistance from GBP 5,000 to GBP 8,000 and proposed it to be further increased significantly and extension in the Subscription due date to almost mid-September besides the option to pay in installments, all unprecedented measures.
  18. In addition to the above, these efforts also contributed towards consideration and allowing of special relief for Suspended members by ACCA.
  19. Has been instumental in and participated in several campaigns to promote ACCA brand including the “Think Ahead with ACCA” series by the marketing as well as the members’ affairs teams.
  20. Worked tirelessly with ACCA officials in line with advocating and supporting the idea for audit rights for ACCA members leading to the historic agreement with ICMAP which opened up doors to audit practice for our fraternity.

In recognition of the above mentioned and numerous other contributions, ACCA honored him by awarding the Exceptional Public Value Awards (for 2 years running) and National Advocacy Award to him.

All this resulted in enhanced #brandrecognition, increased #opportunities for #ACCA and several ancilliary benefits for our fraternity and the profession.

It is my aim to build upon this good work for all members globally, as an #ACCACouncilMember.

Therefore, please #VoteOmerZaheerMeer in #ACCACouncilElection and let’s continue to #ThinkAhead together.

OZM on Way Forward for Punjab Revenue Authority in TV Program

Mr. Omer Zaheer Meer, FCCA, CA, CFA, CPFA, & AMLE, a leading tax expert speaks on one of the most important issues impacting the businesss & ease of doing business in Pakistan.

He’s the Twice Serving Chairman of MNP & Fourth-time Serving Chair of the Taxation committee of #ACCA and represents Pakistan on the Global Tax Forum.

For more visit: http://www.mlcc.pk

Imp Information – Become a Filer

Want to be a #Filer? Be responsible & file timely.

This message is about the filing of #Income Tax #Return for Tax Year #2020 with the deadline of 30th September looming over.

You might be well aware of the requisites but below is a list of important documents normally required:

1-Utility Bills of Office and Home (only bill of July 2020 of each utility could suffice for home بجلی, فون , پانی, گیس, انٹرنیٹ وغیرہ)

2 – Salary Certificate Or Tax Deduction Certificates from July 1st 2019 to 30th June 2020.

3- Bank Statement Pesonal and Business From July 1st 2019 to 30th June 2020.

4- School Fee of Children.

5- House Hold Expenses including foreign travelling.

6- List of assets with purchase prices.

7- Documents of Sale Purchase of Vehicles and Properties e.t.c.

Pls compile those applicable at the earliest so we may file your ITR in a timely fashion.

Should you have any queries, please feel free to reach us.

http://www.mlcc.pk

Kind Regards,

Omer Zaheer Meer,
Managing Partner (#Taxation & #Corporate Services), #MLCC

Member, Global Tax Forum &
Chairman
i) #Tax Clinic, LCCI,
ii) Tax Committee, ACCA
iii) Finance & Economic Committee, #LTBA,
iv) #MNP#ACCA

Daily YouTube Professional Videos

Daily YouTube Professional Videos

Dear Readers,

Assalam O Alikum (Peace be on you),

In continuation of our post addressing the same matter regarding converting the ongoing crisis into a blessing by investing in your development (https://omerzaheermeer.wordpress.com/2020/04/08/convert-the-covid-19-crisis-into-a-blessing-youtube-professional-trainings/) and our continued efforts in this regard, we’re pleased to share with that we’ll be again sharing daily professional videos on topical issues from various training sessions, tv programs, e.t.c. at:

Omer Zaheer Meer’s Youtube Channel

You may want to save the release time in your schedule as there will be a

new release EVERY DAY at 3:30 PM Pakistan Time (GMT+5)

We hope this will deliver value for you and ask you to also share this in your circle and social media to spread awareness.

Best Wishes,

Team #OZM

YouTube Premiere of ACCA & PSX Post Budget 2020 Seminar

#ACCA recently organized a seminar on #Budget2020 with Pakistan Stock Exchange – PSX as a knowledge partner.

A power packed panel contributed to the well-attended & thought provoking seminar with insightful discussions. I was honored to moderate the panel discussion. There was a 100% positive feedback with requests for the session’s recording.

The participants included:

1. Ibrahim Kasumbi, Director & ex-SVP, Umair Petro Chemical & #KCCI

2. Adnan Mufti, Partner, Moore, Shekha & Mufti

3. Haider Ali Patel, Senior Partner, #EY Ford Rhodes

4. Omer Zaheer Meer, Managing Partner, MLCC & Chairman, MNP & #Tax Committee, ACCA & Member, Global Tax Forum

5. Sajjeed Aslam, Head of ACCA (Pak)

6. Zeeshan Shahid, Partner , #Deloitte Yousaf Adil

Be the first to watch the recording of this on the YouTube premiere on Wed, 24th June at 3:30 PM Pak Time (GMT+5)

Good News!

With the #Eid “holidays” over but the lockdown still continuing in most parts of the globe, we’ll be continuing to share various professional posts and CPD videos.

The sessions during #lockdown before the Eid reached over 10,000 professionals across the globe. They benefited by attending live, watching the recording or by sharing in closed groups.

Most of the #CPDs were done for #ACCA and I’d like to appreciate the efforts of the all the team members involved in making these happen.

We’ll continue these effort to do our part by giving back to the profession and the wider humanity.

Please subscribe if you haven’t already done so:

https://www.youtube.com/channel/UCYtxMRR_ryZMhuSOauB1IIQ/videos?view_as=subscriber

Imran Trumps Trump

Links of Published Versions of Article:

By:

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.

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

Iqbal the Economist & his solutions for Pakistan– Part II

Links of Published Versions of Article:

By:

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.

6. Austerity

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.

در خدایا! 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:

  1. Having strong bond of trust between the state & citizens (core issue of Pakistan particularly in the context of the revenue collection agencies).
  1. Human Capital & Human Development (which is a key with the present youth bulge in Pakistan).
  1. 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).
  1. 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