Muhammad Umer

📝 New Tax Rules in Pakistan: What You Need to Know The Finance Bill 2024, effective from July 1 in Pakistan, brings notable changes in taxation for salaried individuals. Here’s a quick overview: Up to Rs50,000/month (Rs600,000/year): No income tax. Up to Rs100,000/month (Rs1.2 million/year): 5% income tax. Monthly tax rises to Rs2,500 from Rs1,250. Rs1.2 million - Rs2.2 million/year: 15% tax + Rs30,000 fixed annually. Earning Rs183,344/month: 15% tax, monthly tax increases to Rs15,000 from Rs11,667. Rs2.2 million - Rs3.2 million/year: 25% tax + Rs180,000 fixed annually. Earning Rs267,667/month: 25% tax, monthly tax rises to Rs36,083 from Rs28,770. Rs3.2 million - Rs4.1 million/year: 30% tax + Rs430,000 fixed annually. Earning Rs341,667/month: 30% tax, monthly tax increases to Rs58,333 from Rs47,408. Above Rs4.1 million/year: 35% tax + Rs700,000 fixed annually. Income above Rs10 million: 10% surcharge for individuals and AOPs. These changes aim to increase revenue but will impact disposable income, especially for higher-income earners in Pakistan. #TaxUpdates #FinanceBill2024 #IncomeTax #SalariedClass #TaxChanges #Pakistan

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🌟 Transform Your Business with ERP Systems! 🌟 @baker tilly Pakistan - Faisalabad office always making sure we are professionally competent and make most of our articles 😇 I recently began a hands-on course to become an SAP Functional Consultant. The presenter started with the basics, explaining what ERP is and why it's important. This reminded me of some content and slides I had previously prepared on this topic. I revisited them and thought it would be helpful to share them here.😊 P.S (My content is better 🙂) Four main questions answered are: 1) What is ERP and its evolution? 2) Difference between the best ERP products? 3) ERP cycle an organisation faces? 4) What makes the ERP successful? In today’s fast-paced world, ERP systems are essential for streamlining operations and boosting efficiency. Here’s why your organization needs ERP: 🔸 Centralized Data Management: Break down silos and ensure coherent decision-making. 🔸 Automation: Reduce errors and free up your team for strategic initiatives. 🔸 Compliance and Reporting: Stay compliant and gain deep business insights. 🔸 Scalability: Modern ERP solutions, like those from Microsoft, Oracle, and SAP, grow with your business. Key Functionalities: 📊 Accounts and Financial Management 📦 Inventory and Supply Chain 👥 Human Resources 🤝 Customer Relationship Management 🏭 Manufacturing Production and Services Management Success Factors: 1. Strategic Implementation: Partner with industry experts. 2. Employee Engagement: Involve your team from the start. 3. Continuous Improvement: Keep refining your ERP system. Embrace ERP for a more efficient, integrated, and scalable business model. Ready to transform? Let’s dive into the future with ERP! 🌐🚀 #ERP #BusinessEfficiency #Automation #DataManagement #BusinessGrowth #Innovation #technology #future #creativity #management #icap #ca #accountants #consultants

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𝐕𝐀𝐓 𝐑𝐞𝐭𝐮𝐫𝐧 𝐅𝐢𝐥𝐢𝐧𝐠- 𝐀𝐜𝐭 𝐍𝐨𝐰 𝐓𝐨 𝐀𝐯𝐨𝐢𝐝 𝐏𝐞𝐧𝐚𝐥𝐭𝐲! You have to file VAT on a regular basis with FTA. Usually, you have to file within 28 days of your tax period. 𝑵𝒐𝒕𝒆: 𝑻𝒉𝒆 𝒕𝒂𝒙 𝒑𝒆𝒓𝒊𝒐𝒅 𝒊𝒔 𝒅𝒊𝒇𝒇𝒆𝒓𝒆𝒏𝒕 𝒇𝒐𝒓 𝒆𝒂𝒄𝒉 𝒕𝒚𝒑𝒆 𝒐𝒇 𝒃𝒖𝒔𝒊𝒏𝒆𝒔𝒔. If you wanna file your VAT Returns by yourself, then here are the main steps; 1. Login to the FTA e-Services portal. 2. Go to the Navigation Menu 3. Select VAT - VAT 201-VAT Return - Click on VAT 201-New VAT Return - And, initiate the VAT Return filing 𝑹𝒆𝒎𝒆𝒎𝒃𝒆𝒓, 𝒚𝒐𝒖𝒓 𝒕𝒂𝒙 𝒑𝒆𝒓𝒊𝒐𝒅 𝒘𝒐𝒖𝒍𝒅 𝒃𝒆 𝒆𝒊𝒕𝒉𝒆𝒓 𝒂 𝒎𝒐𝒏𝒕𝒉 𝒐𝒓 𝒂 𝒒𝒖𝒂𝒓𝒕𝒆𝒓 (3 𝒎𝒐𝒏𝒕𝒉𝒔). It all depends on the prescription of the FTA. And, you can read it on your VAT certificate. You have to submit your VAT returns electronically. If you wanna register your VAT Returns by yourself, then you need to have certain documents. 𝑫𝒐 𝒚𝒐𝒖 𝒘𝒂𝒏𝒕 𝒕𝒐 𝒇𝒊𝒍𝒆 𝒚𝒐𝒖𝒓 𝒓𝒆𝒕𝒖𝒓𝒏 𝒂𝒏𝒅 𝒏𝒆𝒆𝒅 𝒂𝒏𝒚 𝒉𝒆𝒍𝒑? I am available in service of you. It will help you in the Return filing process. You don't need to pay thousands of Dirhams to a full-time accountant. I will do this for you in just 𝗔𝗘𝗗 𝟮𝟵𝟵 𝗼𝗻𝗹𝘆. And, you will be saved from penalties and fines in just 30 minutes. 𝐏.𝐒. 𝐁𝐨𝐨𝐤 𝐲𝐨𝐮𝐫 𝐬𝐩𝐨𝐭 𝐟𝐨𝐫 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐨𝐟𝐟𝐞𝐫𝐬 𝐚𝐧𝐝 𝐝𝐢𝐬𝐜𝐨𝐮𝐧𝐭𝐬 𝐧𝐨𝐰. 𝐏.𝐏.𝐒. 𝐒𝐞𝐧𝐝 𝐦𝐞 𝐚 𝐦𝐞𝐬𝐬𝐚𝐠𝐞 "𝐕𝐀𝐓 𝐑𝐞𝐭𝐮𝐫𝐧 𝐅𝐢𝐥𝐢𝐧𝐠" 𝐭𝐨 𝐜𝐥𝐚𝐢𝐦 𝐚 𝐬𝐭𝐫𝐚𝐢𝐠𝐡𝐭 𝟐𝟎% 𝐝𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐧𝐨𝐰! #vatreturnservices #uaevat #uaevatreturnfiling

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𝐕𝐀𝐓 𝐑𝐞𝐭𝐮𝐫𝐧 𝐅𝐢𝐥𝐢𝐧𝐠- 𝐀𝐜𝐭 𝐍𝐨𝐰 𝐓𝐨 𝐀𝐯𝐨𝐢𝐝 𝐏𝐞𝐧𝐚𝐥𝐭𝐲! You have to file VAT on a regular basis with FTA. Usually, you have to file within 28 days of your tax period. 𝑵𝒐𝒕𝒆: 𝑻𝒉𝒆 𝒕𝒂𝒙 𝒑𝒆𝒓𝒊𝒐𝒅 𝒊𝒔 𝒅𝒊𝒇𝒇𝒆𝒓𝒆𝒏𝒕 𝒇𝒐𝒓 𝒆𝒂𝒄𝒉 𝒕𝒚𝒑𝒆 𝒐𝒇 𝒃𝒖𝒔𝒊𝒏𝒆𝒔𝒔. If you wanna file your VAT Returns by yourself, then here are the main steps; 1. Login to the FTA e-Services portal. 2. Go to the Navigation Menu 3. Select VAT - VAT 201-VAT Return - Click on VAT 201-New VAT Return - And, initiate the VAT Return filing 𝑹𝒆𝒎𝒆𝒎𝒃𝒆𝒓, 𝒚𝒐𝒖𝒓 𝒕𝒂𝒙 𝒑𝒆𝒓𝒊𝒐𝒅 𝒘𝒐𝒖𝒍𝒅 𝒃𝒆 𝒆𝒊𝒕𝒉𝒆𝒓 𝒂 𝒎𝒐𝒏𝒕𝒉 𝒐𝒓 𝒂 𝒒𝒖𝒂𝒓𝒕𝒆𝒓 (3 𝒎𝒐𝒏𝒕𝒉𝒔). It all depends on the prescription of the FTA. And, you can read it on your VAT certificate. You have to submit your VAT returns electronically. If you wanna register your VAT Returns by yourself, then you need to have certain documents. 𝑫𝒐 𝒚𝒐𝒖 𝒘𝒂𝒏𝒕 𝒕𝒐 𝒇𝒊𝒍𝒆 𝒚𝒐𝒖𝒓 𝒓𝒆𝒕𝒖𝒓𝒏 𝒂𝒏𝒅 𝒏𝒆𝒆𝒅 𝒂𝒏𝒚 𝒉𝒆𝒍𝒑? I am available in service of you. It will help you in the Return filing process. You don't need to pay thousands of Dirhams to a full-time accountant. I will do this for you in just 𝗔𝗘𝗗 𝟮𝟵𝟵 𝗼𝗻𝗹𝘆. And, you will be saved from penalties and fines in just 30 minutes. 𝐏.𝐒. 𝐁𝐨𝐨𝐤 𝐲𝐨𝐮𝐫 𝐬𝐩𝐨𝐭 𝐟𝐨𝐫 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐨𝐟𝐟𝐞𝐫𝐬 𝐚𝐧𝐝 𝐝𝐢𝐬𝐜𝐨𝐮𝐧𝐭𝐬 𝐧𝐨𝐰. 𝐏.𝐏.𝐒. 𝐒𝐞𝐧𝐝 𝐦𝐞 𝐚 𝐦𝐞𝐬𝐬𝐚𝐠𝐞 "𝐕𝐀𝐓 𝐑𝐞𝐭𝐮𝐫𝐧 𝐅𝐢𝐥𝐢𝐧𝐠" 𝐭𝐨 𝐜𝐥𝐚𝐢𝐦 𝐚 𝐬𝐭𝐫𝐚𝐢𝐠𝐡𝐭 𝟐𝟎% 𝐝𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐧𝐨𝐰! #vatreturnservices #uaevat #uaevatreturnfiling #vatservices #vatservicesdubai #uaevatservices #taxconsultant #taxconsultants #taxadviser

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As you all know that recently I completed my certification in Company Registration, VAT, and Corporate Tax Filing at The The Institute of Certified Tax Advisors of Pakistan - ICTAP OFFICIAL. 🏆 As an experienced financial consultant, I'm now better equipped to assist UAE startups, entrepreneurs, and SMEs in navigating the complexities of business setup, tax compliance, and corporate regulations. But Why Choose Dubai for Your Business? - Access to global markets - State-of-the-art facilities - Supportive economic policies - Attractive tax benefits 👉 Swipe to see Key Steps to Setting Up Your Business as well as to Understand Taxation in Dubai Ready to start your business in Dubai? DM me or email [email protected] to learn more. Let's make your business dreams a reality! #UAEStartups #Entrepreneurs #SMEs #DubaiBusiness #CompanyRegistration #VAT #CorporateTax #BusinessConsulting #OakBusinessConsultants #BusinessSetup #FinancialConsulting #TaxCompliance #BusinessExpansion #DubaiFreeZone #DubaiMainland #StrategicBusiness #BusinessGrowth #InvestInDubai 👉 Follow sadaf abbas more insights and tips!

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The examiner plays with your mind like Waqar Younus! 💡 Understand the strategy and respond wisely. #ExamTips #Mirchawalas #ACCAJourney #Cricket

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💼Tax Benefits: 🎯 Benefits of Reduced Corporate Tax Rates in Pakistan:-🇵🇰 1)✍ Increased Profit Margins 📈 : Lower tax rates mean that Pakistani businesses can retain a larger portion of their earnings, leading to higher profit margins. This additional capital can be reinvested into the business for expansion, research and development, or other growth initiatives. 2) ✍ Attraction of Foreign Investment 🌍: Reduced corporate tax rates can make Pakistan more attractive to foreign investors. International businesses may choose to establish operations or expand their presence in Pakistan to take advantage of the lower tax burden, boosting the economy. 3) ✍ Competitive Advantage:🏆 With lower taxes, Pakistani businesses can offer more competitive pricing, invest in better quality products or services, and enhance their market position. This can lead to increased market share and customer loyalty. 4) ✍ Enhanced Cash Flow: 💧Lower taxes improve a company's cash flow, providing more liquidity to manage day-to-day operations, pay off debts, or invest in new opportunities. 5) ✍ Job Creation: 👩‍💼 Businesses with more available funds may hire additional employees, contributing to job creation and economic growth in Pakistan. This can also lead to a more skilled workforce and improved employee retention. 6) ✍ Encouragement of Entrepreneurship🚀: Lower corporate tax rates can encourage entrepreneurship by reducing the financial risks associated with starting a new business. This can lead to innovation and the development of new industries within Pakistan. 🌟 #BusinessGrowth #PakistanEconomy #TaxBenefits #InvestmentOpportunities #Entrepreneurship #CorporateTax #EconomicGrowth #BusinessStrategy #FinancialPlanning #Compliance #Reinvestment #Expansion

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Brought to you by CA Syed Irfan Ali, making taxes simple, no matter where you call home. 🧳🗺️ #2024TaxTips #AmericansAbroad #Expats #USExpatTaxes #SyedIrfanAli #TaxDeadlines"

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Here is the specialization of each certification provided by the AI which should b examined during job posting not only for the growth of the compnay but also for Pakistan n nation otherwise we will have to face capacity issues as we are alerady facing through out the industries CMA (Certified/ Chartered Management Accountant): - Focus: Management accounting, financial management, and decision-making - Scope: Global - Salary range: $50,000 - $150,000+ CA (Certified/ Chartered Accountant): - Focus: Accounting, auditing, and financial reporting - Scope: Country-specific - Salary range: $40,000 - $100,000+ CPA (Certified Public Accountant): - Focus: Accounting, auditing, and financial reporting - Scope: Country-specific - Salary range: $40,000 - $100,000+ Key differences: - CMA is focused on management accounting, financial managemen and decision making while CA, CPA, and ACCA are more focused on accounting, auditing, and financial reporting.

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PSX Dividend 20 Index (PSXDIV20) for Income-Seeking Investors   The Pakistan Stock Exchange (PSX) offers a valuable tool for investors seeking income through dividends, the PSX Dividend 20 Index (PSXDIV20).   The PSXDIV20 tracks the performance of the top 20 dividend-paying companies listed on the PSX. These companies are specifically chosen based on their dividend history and the amount of dividends they distribute over the past year (trailing 12-month dividend yield).   The PSXDIV20 offers following advantages for investors focused on generating income through dividends:   Ø Benchmarking Performance: This index serves as a benchmark to track the performance of high dividend-yielding stocks on the PSX. You can compare your portfolio's dividend income against the PSXDIV20's performance to gauge its effectiveness. Ø Ready-made Stock Selection: The PSXDIV20 eliminates the need to research every listed company to identify high dividend payers. It provides a readily available list of the top 20 listed dividend paying companies. Ø Focus on Income: By tracking the PSXDIV20, you can stay informed about companies with a history of consistent dividend payouts, potentially helping you build a portfolio geared towards generating regular income.   Inbox me to discuss your investment goals and risk tolerance before making any investment decisions.

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𝗛𝗼𝘄 𝘁𝗼 𝗖𝗵𝗼𝗼𝘀𝗲 𝘁𝗵𝗲 𝗥𝗶𝗴𝗵𝘁 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 𝗦𝗼𝗳𝘁𝘄𝗮𝗿𝗲: 1. 𝗨𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱 𝗬𝗼𝘂𝗿 𝗡𝗲𝗲𝗱𝘀: Determine if you require basic bookkeeping or advanced analysis. 2. 𝗘𝘅𝗽𝗹𝗼𝗿𝗲 𝗣𝗼𝗽𝘂𝗹𝗮𝗿 𝗧𝗼𝗼𝗹𝘀: In Pakistan, consider QuickBooks, Wave, and Peachtree. Examine their features against your needs. 3. 𝗖𝗵𝗲𝗰𝗸 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲: Ensure the software meets Pakistan’s financial regulations. 4. 𝗥𝗲𝗮𝗱 𝗨𝘀𝗲𝗿 𝗥𝗲𝘃𝗶𝗲𝘄𝘀: Gain insights from local businesses about functionality and reliability. 5. 𝗜𝗻𝘁𝗲𝗴𝗿𝗮𝘁𝗶𝗼𝗻 𝗖𝗮𝗽𝗮𝗯𝗶𝗹𝗶𝘁𝗶𝗲𝘀: Verify if it works well with your existing systems like CRM or inventory. 6. 𝗔𝘀𝘀𝗲𝘀𝘀 𝗖𝗼𝘀𝘁 𝘃𝘀. 𝗩𝗮𝗹𝘂𝗲: Ensure the cost aligns with the benefits provided. 7. 𝗧𝗲𝘀𝘁 𝗦𝘂𝗽𝗽𝗼𝗿𝘁: Reliable customer support can make a significant difference. 8. 𝗘𝘃𝗮𝗹𝘂𝗮𝘁𝗲 𝗦𝗰𝗮𝗹𝗮𝗯𝗶𝗹𝗶𝘁𝘆: Choose software that grows with your business. 9. 𝗣𝗿𝗶𝗼𝗿𝗶𝘁𝗶𝘇𝗲 𝗦𝗲𝗰𝘂𝗿𝗶𝘁𝘆: Look for robust measures to safeguard your financial data. Choosing the wrong software can lead to costly inefficiencies. Confidence in technology selection is key! Which strategy resonates with you the most ? #accountingSoftware #AccountingSolutions #FinancialManagement #Bookkeeping #CloudAccounting #AutomatedBookkeeping #InvoicingSoftware #ExpenseTracking #TaxManagement #QuickBooks #Xero #Sage #ZohoBooks #WaveAccounting #AccountingAnalytics #MobileAccounting #AccountingAutomation

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At 9.3%, Pakistan boasts one of the lowest Tax-to-GDP ratios. Have you ever wondered who is paying taxes and who isn't? Is the tax system regressive? Explore these questions and more in EP2 of Pakistan &Counting, now available on YouTube. #Pakistan #Economy #Growth #Macroeconomics Byld Youcef Oudjidane Khayyam Sajid Meiryum Ali https://lnkd.in/edEew66W

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Don't let tax filing turn into a tsunami of worry. Call Shuraa Tax today. . . . . . Saeed Khalifa Al Fuqaei SHAHID RATHER #vat #accounting #business #taxplanning #consultation #taxtips #taxconsultant #smallbusiness #finance #startup #guide #taxfiling

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Pakistan businesses unhappy with "super tax"! PBC wants FBR to reform the tax on documented sectors in next budget. They call it unfair and a disincentive for investment. Proposals include a tiered tax system and elimination for some industries. Read More: https://lnkd.in/dD_JWpAH #Budget2024 #PakistanTax #SuperTaxReform #PBC #FBR

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With the current tax rule changes in Pakistan, almost everyone including senior leaders are unhappy. The poor/middle class is already destroyed but even so called reasonably paid professionals are under severe stress financially. High earners in particular are being penalized with additional surcharge which makes absolutely no sense. Rather than a slab based system, a generic flat % is a slap if you hit the threshold. What companies have not realized is the impact around - Accelerated brain drain - its a big problem already and about to get worst - Compensation to be at the forefront in terms of attraction and retention - Skill shortage about to get worst (compounded by brain drain) - Drip in productivity and engagement due to financial stress (increase in other taxes as well) - Increased attrition locally - Managing talent is about to get a whole lost worst Companies still need to run, manage and grow. Companies will need quality talent, skills, expertise which by the day is becoming short. We have launched a particular intervention for companies to manage critical skills/talent and those leaders who are worst off because of the additional tax slab. We are in touch with a few companies who want to solve for this challenge. Please reach out to me if you are interested to know more. We would love to see how we can help companies during this extremely challenging situation.

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"It is always a silly thing to give advice, but to give good advice is absolutely fatal." - Oscar Wilde Despite Oscar Wilde's wisdom and the fact that many of my previous suggestions have been overlooked by the Council and decision-makers at The Institute of Chartered Accountants of Pakistan, I still feel compelled to offer the following suggestions as a former President of ICAP for this important seminar: 1. Speaker Overload: The one-day event has too many speakers, limiting their ability to effectively communicate key messages. Only a few key speakers, particularly on tax law changes, have adequate time. Additionally, there's minimal time for discussion and participant questions. 2. Networking vs. Content: Over the years, this and similar events have shifted focus more towards networking at the expense of content quality and learning outcomes. 3. Need for Feedback: It's crucial to gather feedback from members and participants to redesign and improve these events for continuous enhancement. This feedback aims to enhance the overall experience and foster more engaging and enriching Seminars of ICAP.

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