Pakistan economy remains lack innovation, competitiveness.


Byline: Khalil Ahmed

Interview with Mr Ashfaq Yousuf Tola - President, Tola Associates


Professional Accomplishments


* Fellow Member of Institute of Chartered Accountants of Pakistan

* Fellow Member of the Institute of Cost and Management Accountants of Pakistan

* Life Member of Karachi Press Club

* Life Member of SAARC Chamber of Commerce and Industry

* Member of Karachi Tax Bar Association

Key Achievements:

* Presentation to IMF on Single Stage Sales Tax in December 2015.

* Visited Turkey as an official of Government of Pakistan to study Turkish Tax System and authored a report on Turkish Taxation System.

* Knowledge of more than 40 jurisdictions around the globe and co-authored report with Dr. Hafeez Pasha on Sindh Provincial Taxation System.

* International Speaker on Pakistan Economy and Non-Resident Taxation in 2018 and 2019 at Dubai, Abu Dhabi and Jeddah.

* Distinction of passing CA Examinations - Intermediate and Final (both groups together in 1st attempt) as trainee of PWC A. F. Ferguson and Co., Chartered Accountants.

Areas of Expertise:

* Tax Planning and Advisory

* Assurance and Business Advisory Services

* International Mergers and Acquisitions

* Corporate Finance and Investment Advisory

* Due diligence and Forensic audits

* Financial Product Designing and Launching

* Public Listings and Corporate Affairs

Key Positions:

* Member Board - Privatization Commission, Government of Pakistan (present)

* Chairman - Sub-Committee on Taxation for promotion of Islamic Banking Ministry of Finance (2017)

Federal Board of Revenue, Government of Pakistan:

* Chairman Anomaly Committee (2019)

* Member Tax Reforms Implementation Commission (2016 to date)

* Member Tax Reforms Commission (2015)

* Member Tax Advisory Council (2014-15)

* Member Taxation Reforms Coordination Group (2011-13)

* Member Revenue Advisory Council (2011)

Institute of Chartered Accountants of Pakistan:

* Member Council, (present)

* Chairman - Fiscal Laws Committee (Taxation), (present)

* Chairman - Anti Money Laundering Committee, (present)

* Chairman - CA Joint Committee, (present)

* Member Investigation Committee, (present)

* Member Examination Committee, (present)

* Member Public Sector Committee, (present)

* Member Overseas Coordination Committee, (2018)

* Member Regional Committee - (Southern Region) (1993-1996)

* Secretary of Regional Committee (Southern Region) (1996)

* Member Education and Training Committee, (1994-95, 95-96, 96-97)

* Member Technical Services Committee, and 1992-93, 93-94)

* Chairman Chartered Accountant Students' Association (1993)

South Asian Federation of Accountants:

* Member Fiscal Law Committee (present)

* Member Tariff Committee (present)

Federal Tax Ombudsman:

* Member Advisory Committee (South) (present)

Pakistan Institute of Corporate Governance:

* Member Board of Directors (present)

* Member Audit Committee (present)

Pakistan Institute of Public Finance Accountant:

* Member Board of Governors (present)

* Chairman CPD Committee (present)

Institute of Cost and Management Accountants of Pakistan:

* Secretary of Karachi Branch Council (KBC) (1995 and 1996)

* Elected Member KBC and Convener Seminar and Publication Committees (1992-96)

* Member Technical Committee

* Member Research...

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