Academic Programs

Certificate Course in Taxation Management

Introduction:

As taxation laws become increasingly complex, it's more important than ever for businesses to have skilled professionals who can navigate the ever-changing tax landscape. Effective taxation management requires a thorough understanding of tax laws, regulations, and policies, as well as the ability to identify opportunities to optimize tax strategies.

This certificate course in taxation management is designed to equip students with the knowledge and skills needed to excel in this dynamic field. Throughout the course, students will gain a deep understanding of the various tax regimes, including income tax, sales tax, and value-added tax. They will also learn about tax planning, tax compliance, and tax risk management.

The course is ideal for anyone seeking to start a career in taxation management, including recent graduates, career changers, and professionals looking to upskill. Upon completion of the course, students will receive a certificate in taxation management, demonstrating their expertise in this critical field. Graduates of the program will be well-positioned for careers in tax planning, tax consulting, and other roles in the taxation management field.

Basic Details:

Course Contents

Income Tax Fundamentals and Tax Regulatory Environment in Pakistan

• Tax Regulatory Environment for Business in Pakistan
• Income Tax: Basic Terms and Concepts
• Scope of Income Tax Law in Pakistan
• Income Tax Regimes: Normal, Minimum, Final and Exempt Incomes
• Geographical Source of Income
• Principles of Taxation for Individuals, AOPs and Corporates - Mechanism of Tax Collection - Withholding Taxes
• Taxpayers’ Perspective - Mechanism of Tax Computation: Overview

Heads of Income and Their Tax Treatment

• Income from Salary
• Income from Property
• Business Income
• Capital Gains
• Income from Other Sources
• Income Taxed under Separate Block

Income Tax Compliance: Registration, Enrollment, Filings and Records

• Total Income and Allowable Deduction
• Determination of Tax Liability
• Tax Credits and Reductions
• Tax Treatment of Losses
• Registration and E Enrollment and Filings with FBR
• Structure and Contents of Income Tax Return
• E-Filing Process and E-Payments
• Withholding Taxes
• Agents’ Perspective
• Corporate Income Tax
• Detailed Look and Group Taxation - Tax Accounting and Mandatory Records

Determinants and Consequences of Non Compliance

• Ethics & Compliance
• Professional Ethics: Concepts of confidentiality, integrity, competence and professional care
• Tax evasion Vs. avoidance
• Record, Notices, Investigation and Audits · Assessments
• Offences, penalties and default charge
• Appeal Channels and Alternate Dispute Resolution
• Recovery of Tax - Overview of Online Services by FBR
• FBR Complaints Forums - Federal Tax Ombudsman

Sales Tax on Goods

• Introduction to VAT and its Evolution in Pakistan
• Key Terms and Concepts
• Scope of Sales Tax on Goods
• Determination of Sales Tax Liability (Output Tax and Input Tax)  Exemptions & Zero Rating
• Levy of Sales Tax on Other Than ‘Value of Supply
• Refunds
• Registration and Related Issues
• Sales Tax Filings (Monthly, Special and Final Returns)
• electronic Filing and E- Systems for Sales Tax
• Recordkeeping and Documentation - Investigations and Inspections and Audit
• Assessment and Recovery, Offences and Penalties
• Blacklisting, Suspension & Active Taxpayers List
• Appeals and Alternate Dispute Resolution –
• Sales Tax Withholding
• Selected Special Procedures

Provincial Sales Tax on Services

• Definitions and Scope of Tax
• Overview and Brief History of Services Sales Tax in Pakistan
• Basic concepts in Sales Tax on Services· Taxable Services, Value, Timings and Rates
• Registration and De-Registration
• Determination of Tax Liability
• Output Tax and Input Tax
• Time Manner and Mode of Payment of Tax Liability
• Returns and Filings
• Investigations and Audits
• Refunds and carry forward adjustments
• Offences and Penalties
• Appeals and Alternative Dispute Resolutions
• Inter-Provincial Differences and Disputes and Other Hot Issues

Federal Excise Duty

• Scope of Federal Excise
• Important Definitions
• FED Mechanism in Value Addition Mode
• Adjustment of Inputs and Determination of FedEx Liability
• Offences & Penalties - Searches, Arrests & Seizures
• Adjudications, Appeals & Alternative Dispute Resolution
• Selection and Conduct of Audit

Context for Taxation: Constitution, Laws, Accounting and Fiscal Policy

• Constitutional Provisions Related to Federal and Provincial Rights for Taxation - Relevant Provisions of Other State Laws with respect to taxation
• Legislature and organizational structure of FBR and Other Regulatory/ Administrative Bodies
• Accounting Policies and Tax Implications
• Understanding Deferred Tax
• Understanding Public Accounts, Federal Budget, Economic Survey of Pakistan
• Fiscal Policy of Pakistan, and historical overview
• Elements of Fiscal Policy and Future Outlook