12-23-2010, 12:23 AM
Query First of all elaborate difference of these 2 terms tax practitioner & tax consultant;
Answer Tax law uses the words âIncome Tax Practitionerâ (ITP). Now you call it ITP or Tax Advisor or Tax Consultant, but to me it makes no difference. However, a Tax Advisor and Tax Consultant can be a person who advise you due to his knowledge but may not legally be capacitated to represent you in front of taxation authorities under section 223 of Income Tax Ordinance, 2001. So, the effective Tax Consultant/Advisor is the one who is legally capacitated to deal your tax matters and for this purpose you have to see the long list produced by Income Tax Ordinance, 2001.
Query Secondly tell scope of this line in terms of focus small, partnership base enterprise in small cities.
Answer Knowledge is an asset and service provider is like a seller of some commodity (i.e. his services). Until the buyers of some commodity are available in the market, seller has its scope of business. So, you have to see the demand of any sort of services in the area in which you intend to commence your practice. It is not a black and white rule to be stated by me. It has to be seen in demand-supply scenario.
Query In Pakistan if someone start ACCA article-ship of small foreign tax /consultancy service base firm, who only serve small clients of other country let say UK ,and provide all round experience i.e , book keeping ,taxation, consultancy, as someone says u live in pakistan then tax exposure of other country is useless etc can u elaborate merit and demerits of that training as compared to local third tier audit firm of pakistan who retain trainee to only ! deppt throughout period.
Answer Business outsourcing by foreign firms to under-developed countries where cheaper services are available was a very good idea and people used it to make heaps of money on both corners. Yet, with the passage of time, due to so many factors (mostly qualitative but also including huge competition locally), I am seeing that it may not be a very rewarding business target in the longer run. Even Big local firms have a diminishing trend of pursuing such deals because they earn comparatively well by providing their services locally. As far as trainee students are concerned, I personally feel that working for a firm engaged with local clients would, in most of the cases, be a better proposition. You cannot work life time for such an outsourced arrangement and would ultimately have to revert to local market for finding beard and butter.
Query Although this question ask many times in forum but i m asking u in slight different perspective that is scope of ACCA ,a ACCA trainee with medicore academic background who is not ACCA gold medolist & not trained under BIG4 or multinational back ground CAN U TELL ME CAREER PATH OF THAT ACCAS IN TERMS OF CURRENT DYNAMIC SCENARIO.
Answer The output of any investment is always co-related to the inputs you have made. Inputs can be described in a number of ways and this is quite debatable issue. It has also remained a hot and controversial topic of the forum to-date. Destiny has to unfold what the Creator has fixed for everyone, yet, The Creator, (apart from his un-ending love for mankind), blesses according the capacity, wish, endeavors, character and struggle of the creatures. ACCAs do earn and in some cases earn well. I cannot make any prophecy regarding any individualâs fortune specifically. However, if you would wish to compare it with CAs (specially at Paksitan), I would tend to say that even in longer runs the returns of these two investments cannot be similar. Rest is with the Creator who is author of the fortunes.
Query what difference a qualified person like (ACCA QUALIFIED) person in small enterprise business(like father business) than person who has no educational back ground, like business of import ,trading of goods sector who is directly no link with education.
Answer Education always pays back and you can never compare an educated person with the uneducated ones. The specific knowledge and understanding is beneficial for running the business ethically and professionally. Whether or not it can enhance the earnings is again with The Creator, but I believe in saying YES to such a question. Because the Creator improves the condition of those who make effort by them-selves to get it improved.
Regards,
