ICAP Registration 2022

Posted by | Qasim on | August 11, 2022



ICAP Registration 2022 – In line with its vision to be the country’s most trusted bank, the National Bank of Pakistan joined forces with the Institute of Chartered Accountants of Pakistan to provide article-ship training for CA students. The National Bank of Pakistan (NBP), a recognized Training Organization Outside Practice (TOoP), is launching the Chartered Accountant (CA). This program will help youth to engage in an article-ship contract for a term of three to four years in pursuit of the Chartered Accountant qualification from the ICAP.

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NBP’s program aims to promote professional distinction by training and preparing young financial professionals to be tomorrow’s leaders and visionaries. Rotated placement is one of the benefits of this program. NBP will provide a monthly stipend and support to deserving trainees by reimbursing the cost of agreed study materials. This training program is open to any student who has passed CAF or an equivalent. All interested applicants can submit their applications online. The last date for submission of applications is May 31, 2022.

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ISLAMABAD – The Institute of Chartered Accountants of Pakistan has stated that the government must make efforts to control interest rates, focus on tax collection targets, and curb the problem of mainstreaming a parallel economy to address the current economic problems.

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According to the ICAP, Pakistan’s economy faces greater challenges than ever before. This is causing huge external sector pressures. Both the current account and trade deficit have already exceeded their annual targets. Due to monetary tightening, fiscal consolidation, and global economic uncertainty, there is a steep currency devaluation and weaker domestic demand.

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ICAP presented its budget recommendations to the federal and provincial governments for next year’s fiscal year. The ICAP recommended that the country’s tax base be expanded by identifying non-filers using the FBR withholding tax data to increase taxpayers’ base. It should also be able to identify non-filers using mobiles users’ withholding taxes data; electricity bills and bank account holders withholding data.

ICAP, ICMAP lock horns for the CA title

It is proposed that housing societies/developers/builders engaged in selling of plots, building unit should integrate their systems with FBR on same mechanism as POS integration and share real time transfer of file/plot/building/building unit. etc. These information should be sent to Broadening of Tax Base department, so that they can analyze it and match it with wealth statements or tax returns of sellers and buyers.

Institute of Chartered Accountants of Pakistan (ICAP)

ICAP also recommends a fixed income tax regime to small retailers. Small retailers should be classified based on their location and geographic area. FBR already has begun tapping Tier 1 retailers. It is also proposed that small retailers be subject to a fixed income tax regime. FBR should start this exercise in the first phase with CDA to put capital city retailers within tax ambit. Phase two will see it spread to other major metropolitan areas.

NBP, ICAP to launch CA Training Program  The Academia

This exercise can also include GPS mapping of such shops. ICAP suggested that the country should focus on financial inclusion to increase its tax base. Around 20% of Pakistan’s adult population has a bank account or avails financial services. A lack of financial inclusion is a major cause of cash economy and non-documentation. Financial inclusion would lead to significant growth in tax revenue, documentation, and the economy.

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It also requested that the tax on income from property be increased. Every tenant should file a copy the lease agreement to FBR or another designated office. This will ensure that the tax return is filed by lessors and the tax is paid. Data should also be obtained from police stations, municipal administrations, and development authorities of any rented out properties (both residential and commercial) subject to property taxes. The government should seriously consider withdrawal of all unwarranted and discriminatory tax exemptions/concessions provided in the Second Schedule to the ITO as without it broadening of tax base will remain a dream. This should be done proactively and not at the request of IMF.

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A session was held with journalists where President ICAP – Ashfaq Yousuf Tola, Chairman Fiscal Laws Committee – M. Ali Latif, and Chairman Economic Advisory Committee – Zeeshan Ijaz informed journalist that these recommendations and proposals have been submitted to government for consideration in the new Fiscal Budget 2022-223.

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Tola stated that the Model Federal Budget 2022-22-23 was designed to provide recommendations to the government for economic reforms that could improve the country’s future outlook. This document contains policy measures that are expected to have positive effects on our economy, such as increasing our GDP and reducing our fiscal deficit. He also said that the Model Budget was created keeping in mind the effects of changing political circumstances, projections to the IMF, and post-pandemic measures, as well as global dynamics.

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ZeeshanIjaz – Chairman Economic Advisory Committee stated, “In Pakistan, whenever there was an increase in the economy by more than 5 percent, current account slippages caused a balance of payment crisis. Whenever international commodity prices (primarily oil) were above USD 100 mark, the twin fiscal and current deficits emerged. This resulted in increased income inequality and a decrease in growth.

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The country is in dire need of an economic emergency in order to avoid future crises. ICAP has presented several proposals that highlight major areas of investment, including in technology, both in infrastructure and in value addition, rationalization and integration of Islamic banking and financial products in private and federal transactions, and the importance of regulation in the power and construction sector.

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The Institute of Chartered Accountants of Pakistan is a professional body of Chartered Accountants from Pakistan that represents accountants who are engaged in public practice, business and industry. ICAP professionals are widely distributed around the world and in high demand because of their professional competence, integrity, and drive to professional excellence.

The Institute of Chartered Accountants of Pakistan Employees

The Institute fully understands its responsibility to the finance and business professionals and is committed to providing a better platform for financial leaders in the country to discuss future scenarios and challenges. The Institute’s head office is located in Karachi, Teen Talwar, Clifton. There are regional offices in Islamabad and Peshawar.

Icap Registration Last Date 2022

The UBL WIZ ICAP Prepaid Debt Card is a convenient option for ICAP students/members that allows them to pay online their annual and exam registration fees.You can now pay your fees with your UBL Wiz ICAP card. Simply enter your student/member credentials to register for exams and pay your annual fees from the comforts of your own home.Registration Open for ICAP’s 2022 Educational Summit. This will dissect the content in ICAP’s recently created litigation guides.

Limits UBL WIZ ICAP Prepaid Card
Maximum aggregate loading amount in calendar year for Biometric Verified Card (PKR) 500,000
Maximum aggregate loading amount in calendar year for Non-Biometric Verified Card (PKR) 100,000
ATM withdrawal limit per day (PKR) 40,000
POS usage limit per day (PKR) 100,000
Internet usage limit per day (PKR) 100,000

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To assist members better understand these guides and the different aspects of related litigation, ICAP will sponsor several related presentations,all presented by attorneys who specialize, during its annual Educational Summit.To learn more about the day’s content, take a look at this agenda. Then click the link below and register for the sessions you are interested in.

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