Page 15 - Newsletter-June-2018

Governance, Transparency and Service to Members & Students www.icap.org.pk Rana Muhammad Afzal said that this budget Muhammad Awais delivered his presentation on Direct Taxes document is still under debate for the next two and Asim Zulfiqar Ali shared his views on Indirect Taxes. weeks. We have made difficult decisions and we have been challenged. We are leaving a good reserve too. A panel discussion with professionals was moderated More difficult area was property as large money was by Asad Feroze and the panellists were Asim Zulfiqar Ali, being put in this sector. Five important sectors were Muhammad Awais, Sohail Nisar, CFO Millat Tractors and zero rated. He further added that in the profession of Mansoor Zaighum, head of Taxation, Allied Bank Ltd. accountancy, more females should be encouraged to The speakers presented the thoughts on conceptual and join. Chartered accountants can play a marvelous role practical issues faced by the tax payers and practitioners. to broaden the tax net in Pakistan. Ashfaq Tola said that government has accepted all of Earlier, in his opening remarks, VP-North ICAP, Jafar their suggestions for the budget. This year, the budget Husain, hailed the federal government budget and is special for ICAP as the Institute is one of the biggest hoped that this will help to boost industries and stakeholders in the budget. economic activities. He said that the federal budget is perhaps one of the most important things in the fiscal In his closing remarks, Farooq Hameed, chairman CPD, year. We used to wait for the budget to know how extended his appreciations to the chief guest for his much taxes are fixed on petroleum and electricity. presence and praised the efforts of all the speakers for These two now keep on changing throughout the making the event successful. year. Second important change in national scenario is 18th Amendment. So, most of the functions have Asad Feroze said that NRC is striving for continuous skill been delegated to provincial governments. He building of its members. He shared various events of concluded that we should now listen to the provincial importance organised by NRC committee on different topics budgets more seriously. and attended by a large number of chartered accountants. Post Budget Seminar, Peshawar he Continuing Professional Development (CPD) Regional Tax Office (RTO), Peshawar. After the concluding T Committee Peshawar of The Institute of Chartered remarks, the Northern Regional Committee (NRC) Accountants of Pakistan (ICAP) organised a seminar member Shahid Iqbal Khattak thanked the chief guest, on Post Budget Seminar 2018-19 on May 10, 2018 at speakers and participants for attending the seminar. ICAP House Peshawar. The learned speakers of the seminar were ICAP members Amer Javed Ahmad and The objective of the seminar was to deliberate on the Abdus Salam Jan. The seminar commenced with the possible consequences of the Federal Budget 2018-19 on presentation on Direct Taxes by Amer Javed which the economy of Pakistan. The seminar was attended by was followed by Abdus Salam Jan’s presentation on about 25 ICAP members and students. The chief guest Indirect Taxes. The concluding remarks were delivered presented shields to the speakers, and Council member by the chief guest Shah Khan, commissioner Corporate Saifullah presented the shield to the chief guest. The Zone, session concluded with dinner. June 2018 15