I feel honoured to send my greetings on the eve of the publication of PTBA Diary 2019 with the completion of first year of our term of office.
I bow my head in all humility to thank Almighty Allah for helping us in timely achievement of some of the goals set out at the start of our term of office. For this I express my special gratitude to the entire PTBA team and worthy members of all the Bars across the country.
It is a matter of satisfaction for me to report that the team members of PTBA were able to make themselves available at all times during this period, as resolved to guide and assist tax professional in advancing their knowledge and capabilities for being of real service to clients/citizens of Pakistan by ensuring availability of due process of law, levy of fair tax and timely dispensation of justice for them.
We, as a representative body have been giving our independent views to the Government of Pakistan for promotion of tax culture and suggesting measures providing relief to the existing taxpayers for boosting their morale to make investment in their businesses to boosting the stagnant economy. We may also mention here that we have been fearlessly advocating our views on the problems faced by genuine existing taxpayers, as well as the road blocks on the way of widening the tax base and the duty of the Government Sector in this regard to ensure that justice through a fair and equitable system of law is not only done but is also seen being done by all concerned.
By the Grace of Almighty Allah during the year 2018 i.e. the first year of our term we established “PTBA Academy of Taxation” and published research document title “PTBA Tax Law Journal” for the benefit of our members. The other achievement in this year has been the establishment of “PTBA Endowment Fund”, wherein a sizeable amount has already been collected so far.
As Continuous education and training of our young generation of tax professionals for upgradation of their professional skills and competence professionally to contribute positively towards the betterment of our society is a matter of priority for us, we have been arranging programs regularly and have on our list a few more for the year 2019 as under:-
a) An “Internship Program” of Eight Weeks duration for young professionals with international renowned firms to start from March 01, 2019
b) “National Tax Conference 2019” of two days duration jointly with Karachi Tax Bar Association on 5th and 6th April, 2019; and
c) A three (3) days world class international training program jointly with Sindh Revenue Board [SRB] on “VAT on Services” at Karachi to be conducted by trainers from International Bureau of Fiscal Documentation [IBFD], the world’s largest tax training institute and tax library between 12th and 14th April, 2019.
The PTBA team of office holders and its Member Bars across the country have made all out efforts to make this organization as the sole and effective voice of all tax professionals and tax paying community for conveying of their genuine problems to the Government as well as to help it in amicable settlement of the same for improving tax collection system for overall boost in the economy.
For this purpose PTBA team is on the move constantly not only for grooming real professionalism in the practitioners of tax law with a code of conduct in force, but also meeting various arms of government for inter provincial harmony in the field, as well making research on important taxation matters.
The legislation of “Taxpayer’s Bill of Rights” and introduction of “Free Taxpayers Legal Aid Scheme” are on our priority list to ensure that supremacy of law prevails for all irrespective of cast, creed, color, nature and size of the business. We firmly believe that no person or arm of government is above the law in a fair system to be established through our efforts.
As a responsible national organization, a large scale “Tree Plantation Campaign” was conducted successfully across the country for clean and safe environment and a sizeable amount has also been collected for donation to a fund created on account of construction of “The Diamer Basha and Mohmand Dam”.
Dear Friends, as you know that in the year 2018 on the global landscape, we have witnessed move from the conceptual discussion at the multilateral level to the reality of policy change at the country level throughout the world including Pakistan. The amendments related to implementation of few of G20/OECD Base Erosion and Profit Shifting (BEPS) recommendations, anti-avoidance laws, treaties anti-abuse rules and CbC reporting have been introduced in Pakistan in last budget.
The global tax environment looks to be as dynamic and challenging, as before. The world is now moving very fast to tax digitalized business, mandatory disclosure of tax planning schemes, changes in the shape of tax competition to attract jobs & investments, harmonization of taxes, transfer pricing audit and enforcement (related party transactions, inter-company interest payments, royalties & management fee), taxation of intangible income (patent & innovation), new rules of thin capitalization (third-party financing), cross-border intra-group holding and imposition of indirect taxes on digitalization and automation.
Dear fellow professionals, we should be ready to enhance our capabilities/ expertise to provide services to our valued clients on the above issues, which we will be confronting in the immediate future due to the advancement of tax laws and technologies in the world. Let us also make a solemn pledge that we will leave no stone unturned to make Pakistan a better, stronger and prosperous country for our children.
In the end I congratulate and express my sincere thanks to our outstanding Convener Publication Mr. Shahbaz Qadir, Secretary General, Mr. Muhammad Zubair, SVP, Mr. Haider Patel and Treasurer Mr. Muhammad Aleem; who conceptualized the idea of taking out improved second issue of this historical every day Note-Book, helped arranging sponsorships and ensured quality printing. They all deserve our lots of prayers for their hard-work and commitment.
I, on behalf of PTBA Executive Committee members, wish you a happy, healthy, peaceful and rewarding 2019.
Looking forward to your prayers, usual support and guidance
(Abdul Qadir Memon)
December 26, 2018