Ashfaq Yousuf Tola

Member Board of Advisers

President – Tola Associates

PROFESSIONAL ACCOMPLISHMENTS

Memberships:

• Fellow Member of Institute of Chartered Accountants of Pakistan
• Fellow Member of the Institute of Cost & 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 & 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 & Final (both groups together in 1stattempt) as trainee of PWC A. F. Ferguson & 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

POSITIONS HELD – GOVERNMENT OF PAKISTAN

Key Positions:

• Member Board – Privatization Commission, Government of Pakistan          (Present)
• Chairman – Sub-Committee on Taxation for promotion of Islamic Banking Ministry of Finance, GOP          (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 Co-ordination Group          (2011-13)
• Member Revenue Advisory Council          (2011)

Institute of Chartered Accountants of Pakistan:

• Chairman – AML Committee          (Present)
• Chairman – Joint AML Committee of ICAP and ICMAP         (Present)
• 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         (1992-93, 93-94)
• Chairman Chartered Accountant  Students’ Association         (1993)

South Asian Federation of Accountants:

• Member Technical – Board of Directors         (Present)
• 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 & 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 Committee

Karachi Club:

• President         (2012 and 2013; 2016 and 2017)
• Honorary Secretary         (2008)
• Member Managing Committee         (2003, 2004)

Pakistan Bridge Federation (PBF):

• Secretary PBF and represented  PBF in various ministerial meetings         (2005)
• Member Board of Directors PBF         (1995-96, 2004-2005)
• Co-convener organizing committee for holding of SAARC Bridge Championship         (2000)

Government Commerce College, Karachi:

• Chairman Funds Committee         (1987)

Federation of Pakistan Chamber of Commerce and Industry:

• Member Income Tax, Sales Tax, and Utility Sub-Committees         (2004 to 2013)

PROFESSIONAL EXPERIENCE