MUHAMMAD SHAKIL

Experience, tasks and activities

• Preparation, verification and finalization of organization Financial Statements for annual tax return.
• Monthly, Quarterly & Biannually accounts. 
• Prepare the Group Financials to audit from Chartered Accountant firms.
• Deals in all General Insurances i.e. fixed assets (Building, Plant & Machinery), residential buildings, Hypothecated Assets, W.I.P stocks, Grey Godown, Main Processing & CMT stores, stocks in transit, Cash in hand, cash in transits, fidelity Guarantees, Marine Insurance on Import & Export.
• Deals in Company Vehicle insurances, Deal in company Group Life Assurance.
• Negotiation on rates and risk, handle the survey team, launching of claims, and recovered the Claimed amount.
• Filling Of Form-A, 29, Correspondence with SECP (Security Exchange Commission of Pakistan) regarding company corporate and legal matters.
• Correspondence with FBR (Federal Board of Revenue) in company Income Tax matters.
• Correspondence with Punjab Revenue Authority, Sindh revenue Board, Khyber Pakhtunkhwa Revenue Authority, and Blochistan Revenue Authority and Islamabad capital Territory in company provincial sales tax on services matters.
• Sales Invoices, Accounts receivable and customer accounts reconciliation. 
• Income Tax and Sales Tax Refunds from FBR & Tax Exemptions u/s 153(1)(b)
• Checking with Vendors for uploading of monthly input tax for sales tax returns.
• Ensuring that all due input has been uploaded in the relevant month’s return.
• Preparing and compiling data as required for monthly sales tax return including finalization of Annex A, C and F
• Reconciling stocks as per sales tax return and as per physical count.
• Regularly updating Sales Tax Rates of goods in ERP and POS’ data base
• Apply withholding tax rates on vendor’s bill.
• Ensuring proper withholding tax is being deducted by customers and taking withholding certificate of the same from them, arranging all the advance tax evidences and supporting documents on quarterly basis.
• Preparing Tax Challans for: Monthly Sales Tax Return, Monthly Withholding Taxes (Income Tax)
• Advance Tax Payments u/s 147 of Income Tax Ordinance, 2001
• Advance withholding tax under section 155 of the Income Tax Ordinance, 2001
• Monthly withholding of Employees u/s 149 of ITO, 2001,Withholding of Vendors/ Suppliers under section 153
• Preparing and providing certificates for withholding tax under rule 49 for Vendors and Employees.
• Preparing, uploading and finalizing data for withholding statements u/s 165 of ITO, 2001.
• Working/replying/following up for any tax audit or notice from Tax Authorities in liaison with tax consultant. Ensuring timely reply has been submitted by the tax consultant to the Authorities.
• Resolving queries, observations and findings of tax consultant.
• Resolving queries of sales personnel/ customers with respect to any observations or remarks pertaining to tax issues.

Professional Studies: ACCA (UK) Finalist  ( F7-Financial Reporting)