ACCA Pakistan “Working Group on Taxation”

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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.

Dear ACCA Members
ACCA Pakistan MNP has decided to setup a working group under the Taxation Subcommittee. The objective of this working group will be to interact with the Federal Board of Revenue initially and expand its remit to the Provincial Revenue Authorities under the leadership of Omer Zaheer Meer, FCCA, Head of Taxation Sub Committee, ACCA Pakistan and offer the following:

  • Provide regular feedback and suggestions on circulars/policy matters pertaining to taxation
  • Prepare budget proposals (initially federal and later on expand them to the provincial proposals too) and forward them to Federal and Provincial Ministries of Finance.
  • The budget proposals should be prepared in such a way that they present a holistic as well as sectoral suggestions for Pakistan’s Annual Budget
  • Discuss, deliberate and critically evaluate issues pertaining to taxation and present the critical evaluation to Federal and Provincial
  • Profile the ACCA Pakistan Members Network Panel and the subcommittee to the taxation regulators in Pakistan

This working group will consist of 3-5 members working in the taxation sector in strategic positions with considerable experience of the sector. Members with a diverse view point on taxation of different business sectors are encouraged to share their CVs and a personal statement describing their claim to merit for these position with us.

Those members who are keen to join this working group should send us their CV and personal statement by replying to this email. We will look forward to your responses by 24 February 2017.
Haroon A Jan
Regional Head of Member Affairs – MENASA
ACCA Pakistan
61-C  Main Gulberg  Lahore Pakistan

Kind Regards,

Omer Zaheer Meer,

Managing Partner,

Millennium Law & Corporate Company

ACCA publishes detailed report on MLCC

Dear Readers,

Peace be on you,

It is with pleasure that we share that ACCA, the largest accountancy body in the world recently published a detailed report on our firm Millennium Law & Corporate Company (MLCC) and recognized it as the pioneer ACCA practicing firm in Pak. You can directly access it at: ACCA’s published profile of MLCC

or continue to read below and let us know your valuable views.

Millennium Law and Corporate Company (MLCC) becomes the Pioneer ACCA practicing firm in Pakistan

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Profile of Millennium Law & Corporate Company

  • 30 + Years’ “Young”

Millennium Law & Corporate Company (MLCC) has a background of thirty (30) years plus history of professional excellence stemming from its parent practice. It used to be focused solely on legal practice including corporate matters.

  • Way Forward – One stop solution

MLCC was expanded to include a new division for providing ACCA centered services. This led to the inclusion of the areas of taxation, corporate services, internal audit, advisory, risk management and trainings in addition to the other legal matters within the services offered by MLCC.

  • Partners

The firm is setup with specialized teams dealing with relevant areas under four (4) partners, two of whom are ACCA members while one is an ex legal advisor Federal Land Commission (Government of Pakistan) and another is an ex deputy Attorney General of Pakistan.

  • Pioneer ACCA Practising Firm in Pakistan

In 2015, the Association of Chartered Certified Accountants (ACCA) took a giant leap in Pakistan and initiated practising license program for the country.

  • MLCC became the pioneer practising firm in Pakistan with
  • Omer Zaheer Meer FCCA (the managing partner of MLCC) being awarded the first ever ACCA practising license in Pakistan.

Before that history was made when:

  • Omer Zaheer Meer FCCA became the first ever ACCA member to get admitted to the prestigious Lahore Tax Bar Association (LTBA) during 2009/10.
  • He was later joined by his brother Mr. Ali Zaheer Meer ACCA who is now a partner at MLCC and another ACCA member at LTBA.

Millennium Law & Corporate Company has built a reputation for quality services based on value creation and issue resolutions with time-specified deliverables. It is now the premier ACCA practising firm in the country and one of the leaders in the taxation, advisory and corporate services sectors.

  • Distinguished Collaborations

MLCC through its partners is currently represented at the Taxation Committee of Lahore Chamber of Commerce and Industry, Chairing the Liaison and sitting on the publication committees of LTBA, Chairing the Taxation Committee of ACCA, Global Tax Forum of ACCA and several think-tanks including Hamdard Thinkers’ Forum and Millat Thinkers’ Forum. MLCC’s clientele also includes some of the most distinguished names. Out key clients and/or associations are as below:

Read the rest of this section directly at:  ACCA’s published profile of MLCC

 

Why was MLCC started?

Managing Partner’s Views:

It is my strong and educated belief that the ACCA qualification and a proper training program equips one with the relevant skills, education and expertise to be the best not just technically but on the value addition side of being an entrepreneur.

With an early start to my career resulting is sufficient experience, I felt it was the right time to launch an ACCA practising firm on my return from UK to Pakistan. Also it was an opportunity to contribute back to the profession and ACCA fraternity in several ways.

However ACCA did not have a local practising license back then. Nevertheless we upheld the brand ACCA and pioneered in an area deemed alien for ACCA members at the time, i.e. local taxation. Within a short span of time we stood out of the crowd delivering excellence and quality beyond norms of the market. We then started expanding into other areas such as corporate services, advisory, risk management, e.t.c. with equally good results.

The milestones so far

Since becoming the pioneer ACCA practising firm in Pakistan some of the major milestones achieved by MLCC are outlined below:

  • Establishment of our non-legal services headquarter at the prime location of Bashir Mansion, 2 Turner Road, Lahore which is opposite FBR, close to Appellate Tribunal, behind Lahore High Court, adjacent AG Office and practically in the hub of all the action.
  • Establishment of a branch office in DHA, Lahore for facilitation of our clientele from the posh areas.
  • Award of the practising license and hence becoming the pioneer ACCA practising firm in Pakistan
  • Joining of Mr. Ali Zaheer Meer as the second ACCA partner of the Firm
  • Expansion intro value addition areas beyond taxation including internal audit, advisory, risk management, corporate services, e.t.c.
  • Start of our training division
  • Partnership with ACCA Pakistan for the CPD trainings of ACCA fraternity and beyond
  • Attendance of our CPD programs and training events by high-profile professionals including owners, directors and even non-ACCA partners of other renowned firms
  • Publication and launch of a research study on indirect taxation across the MESA (Middle-East and South-Asia region) in collaboration with ACCA and EY
  • Working with top names in various sectors including the likes of National Bank of Pakistan, Habib Bank Limited, MPDD, ACCA, LCCI, KCCI, LTBA, e.t.c.
  • Pre-launch of our ACCA trainees induction program

Advantages and benefits of ACCA firms

ACCA firms offer several benefits for the ACCA fraternity, the business community and the society at large. Some of the major ones include:

  • Opening up of new horizons and opportunities
  • Jobs creation
  • Quality services
  • Greater acceptance of ACCA locally
  • Entrepreneurial rewards
  • Increased collaborations with worthy partners
  • Greater exposure

With the advent of CPEC and the corresponding developments, there is a lot of potential for quality accountants and firms offering the right services. Yes it will be challenging but the rewards are more than commensurate. So have a dream and turn it into a reality.

Session on FATCA

From: members.pk
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.

Trainer’s Profile

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

Topics Covered

        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

  VII.            Acronyms

VIII.            FATCA Regulations (including for Individual/Sole Proprietorship Accounts, Entities
and Change in circumstances of Existing entities) along-with impact on various stakeholders including businesses and individuals

    IX.            Q & A Session

Audience
ACCA Members & Affiliates, other Tax Professionals and professional accountants

When and Where
The event will be conducted only through Webinar.

Date & Time
3
0 September 2016, 03:00pm – 06:00pm

Registration

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. 


All Members and Affiliates interested in attending the event should register before 29 September 2016 by filling up the registration form available on the link below.

Click here to register

CPD Units

03 Units

Haroon A Jan
Head of Member Affairs
ACCA Pakistan
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…

www.accaglobal.com/msc

 

R&I Session with AW Textile Mills Multan

Salam,

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.

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Key ACCA Engagements with Employers – ACCA MNP Elections 2016-18

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.

It is my vision and aim to build upon such historic successes for the betterment and professional development of ACCA fraternity.

This can only be possible with your vote and kind support in the ongoing MNP elections.

Please visit:  My Professional Profile, Achievements for ACCA & Manifesto  to consider me worthy of your valuable vote & kind support.

Thanks in anticipation.

Kind Regards,

Omer Zaheer Meer

(ACCA MNP Candidate Sr. No: 23)

Professional Training Webinars – ACCA MNP Elections 2016-18

Salam,

Below are some pictures from a few of the several (online) professional training webinars sessions in addition to the physical CPD sessions across Pakistan where the focus was on developing the core competencies and skills of ACCA fraternity.

In addition to ACCA members, people from all spheres of profession including partners of ICAP firms, Directors of companies, Practitioners and Consultants besides others attended the sessions, a testimony to the quality offered.

History was made with over 60 CPD sessions delivered by ACCA in just a few months, with me conducting the majority and almost all the sessions on Taxation at a personal sacrifice of own business for betterment of profession and thereby Pakistan.

This helped strengthen image of ACCA as taxation was perceived as a weakness of the ACCA fraternity.

It is my vision and aim to build upon such historic successes for the betterment and professional development of ACCA fraternity.

This can only be possible with your vote and kind support in the ongoing MNP elections.

Please visit            My Professional Profile, Achievements for ACCA & Manifesto  to consider me worthy of your valuable vote & kind support.

Thanks in anticipation.

Kind Regards,

Omer Zaheer Meer (ACCA MNP Candidate Sr. No: 23)

 

Chairman ACCA Tax Committee at LCCI – ACCA MNP Elections 2016-18

Salam,

Below is a memorable picture from the high profile meeting with key dignitaries including Mr. Salman Shah (ex Finance Minister) and officials of LCCI.  I represented ACCA and our contributions were highly appreciated.

It is my vision and aim to build upon such historic successes for the betterment and professional development of ACCA fraternity.

This can only be possible with your vote and kind support in the ongoing MNP elections. For me, MNP is a platform to increase my positive contributions for ACCA fraternity, the profession and thereby our beloved Pakistan.

Please visit:           My Professional Profile, Achievements for ACCA & Manifesto  to consider me worthy of your valuable vote & kind support.

Thanks in anticipation.

Kind Regards,

Omer Zaheer Meer (ACCA MNP Candidate Sr. No: 23)

omerzaheermeer@hotmail.co.uk

 

Salman Shah Sb