Muhammad Waqas Akram

Experience

• 

  ILYAS SAEEED & CO. (Chartered Accountants)

  Oct 2009 - May 2013

  Senior Audit & Tax Associate

  Has diverse experience in Audit and Assurance, Business Advisory Services and Taxation and Legal Services. Carried out audits of oil and gas, banking, NGO-Hospital-Charity, manufacturing, services and education sector that helped to develop capability of business process understanding, compilation and review of financial information and linkages of processes to financial transactions and application of IFRS. The consulting projects have provided an insight of business environments, business process understanding and client management skills.My key responsibilities in the assurance department included:- Leading team through the planning, execution and completion stages of audit- Engagement planning based on understanding of the entity and assessment of business and related audit risks- Coordination with the partner to define the extent of planned audit procedures and to update on progress of the engagement- Supervision, review and finalisation of assurance engagements- Liaison with client's management and communication of relevant matters to persons at appropriate level of responsibility- Arranging regular taking stock meetings of the engagement team to obtain regular feedback on the progress of the engagement- Assisting clients in preparation of financial statements in accordance with the applicable financial reporting framework including compliance with International Financial Reporting Standards, local corporate laws and directives of regulatory authorities- Providing basic advisory services to clients in respect of secretarial practices- On-the-job training and professional development of the staff. Show less

• 

  ILYAS SAEED & CO. (Chartered Accountants)

  Jun 2013 - Nov 2013

  Manager Tax & Advisory

  My Key Role & Responsibilities include;- Working as a team leader of professionals who managed Direct and Indirect tax services in Pakistan - Involved in Appeal, Advisory, Audit, Compliance and other special assignments of tax - Review of Return/Statements of direct and indirect taxes - Providing advisory services to the multinational corporations on international taxation - Handling Due Diligence and Tax Reviews of Corporate Sector - Devising legal framework of business for the clients in the light of national and international taxation laws - Independently attending hearings at different Appellate Forums (Commissioner Appeals, Federal Tax Ombudsman, Appellate Tribunal) - Having sound knowledge of statutes of Income Tax Ordinance, 2001,Sales Tax Act, 1990, Federal Excise Act, 2005, Sindh Sales Tax on Services Act, 2011, Punjab Sales Tax onServices Act, 2012 and other federal and provincial laws. - Cope with legal as well as practical anomalies of Federal and Provincial Taxes and provide professional advise to the client. Show less

• 

  Berger Paints Pakistan Ltd.

  Dec 2013 - Dec 2015

  Executive Taxation

  My Key Role & Responsibilities include;- Lead & manage all the matters related to Direct Tax and Indirect Tax.- Represent the company before different taxation forums to cope with various tax issues.- Liaison with tax consultants of the company on different matters.- Keep updating my team about possible implications of amendments introduce through SROs.- Draft letters and other correspondence in response to compliance to different notices by FBR, SRB, & PRA.- Analyze and review the sales tax return and advise the management in the light of the prevailing laws.- Handle the matters of Tax Refunds,Withholding Tax Exemptions, DTRE and other ancillary procedural matters.- Developing and monitoring the controls to ensure compliance of responsibilities to be accomplished as 'Withholding Agent' under Federal and Provincial Tax laws.- Responsible for Tax Planning activities- Supervise the deduction of Tax at Source and timely payment of same to Government Treasury- Finalize the Annual Corporate Tax Return. Show less

• 

  Fatima Group

  Jan 2016 - May 2017

  Taxation Officer (AM Taxation)

  My role and responsibilities include;• Optimize tax structure of the company, minimizing tax expense and the relevant cash out flow through continuous future tax planning including risk and cost optimal structural plans for business transactions.• Ensures completeness, accuracy, timeliness, periodicity, appropriateness, classification and correctness of taxation related transactions and maintenance of the relevant system/s and documentary record.• Responsible for all statutory record provisions for taxation.• Support management in preparation and update of taxation regulations, policies, standard operating procedures, chart of authority for better tax controls and compliance and standardization across system to mitigate non-compliance implications and penalty risk.• Minimization of transaction risks by tax review of all the business agreements for any tax implications and through day-to-day tax advice on various tax issues.• Reduction of compliance risks by ensuring accurate & timely filing of all corporate tax returns and withholding tax statements on annual, quarterly and monthly basis and ensure timely filing in tax department.• Ensuring a smooth Income Tax / Sales Tax Audits and handling of the tax assessments proceeding with tax authorities• Finalization of tax litigation in all appellate forums and courts• Provides Technical assistance to company for taxation buttonholing in Federal Board of Revenue [FBR] and Ministry of Finance & Commerce to safeguard the business risks and minimizing cost of taxes for the company• Reviews of tax laws, timely adaptation of various tax amendments in tax laws• Maintains cordial relationship with tax authorities to the highest level in FBR and enhancement of corporate image as responsible taxpayer and negotiating maximum tax benefits for the business• Organizes tax training awareness sessions to update the internal and external customers to reduce the transaction risks of the company Show less

• 

  Axon Consultancy

  May 2017 - Sept 2017

  Tax Partner
• 

  Wateen Telecom Limited

  Sept 2017 - now

  Being a main Tax Lead of Wateen Group, the main object to my responsibilities is to add value to Group’s overall tax strategy in all components of tax, including tax planning, tax compliance, tax assurance and accounting for income taxes. Responsibilities• Play a significant role in establishing Wateen Group Tax Strategy• Support the implementation of non-structural tax planning strategies• Participate in proposed Transactions to advise the Finance Team on Tax Consequences• Ensure Corporate Direct and Indirect Tax Laws Compliance within stipulated time-frame• Closely work together with Revenue team members on Federal and Provincial Sales tax matters• Review agreements/ contracts in order to evaluate all possible tax exposures and tax savings• Coordinate and implement the controls in order to avoid any non-compliance of tax laws• Prepare current / deferred income tax expense for financial statement purposes• Analyze the tax aspects of financial projections and forecasts• Lead the process of improvements to ensure accurate, timely information is provided to the Finance team• Departmental liaison with IT staff on technical matters relating to tax applications• Evaluate risks of uncertain tax positions and recommend provisions deemed necessary• Manage tax advisors, tax audits & litigations of Group Companies• Advise cross-border transactions with emphasis on permanent establishment risks, withholding tax implications, registration requirements and availability of treaty relief• Assist in corporate restructuring and provide support on tax related matters Show less

  • Senior Manager Tax

    Jan 2024 - now

  • Tax Manager

    Sept 2021 - Jan 2024

  • Assistant Manager Taxation

    Sept 2017 - Aug 2021