back-ground and status
The Institute of Taxation Management has been set-up under a
license from Corporate Law Authority now Securities and
Exchange Commission of Pakistan, Islamabad, on whose
simultaneous directive, the Institute was incorporated under
section 42 of the Companies Ordinance, 1984.
In granting the license the Federal Government of Pakistan
had taken due care and caution in scrutinizing the academic
and professional worthiness and integrity of the Council of
the Institute besides realizing the intense need for such an
institution in Pakistan. After satisfaction as to the
reputation and standing of the Council of the Institute, the
Federal Government of Pakistan has been pleased to license
and register the Institute and grant permission to function.
The Institute is governed by its own constitution namely the
Memorandum and Articles of Association and the relevant
provisions of Companies Ordinance, 1984, as applicable to
such bodies registered under Section 42.
2. Objectives, role and function
The main object of the Institute is to develop Certificate,
Diploma and Professional courses of study on Taxation
Management and allied subjects with a view to produce tax
executive tax, managers, tax consultants and tax
professionals in Pakistan. For this purpose the institute
has designed sophisticated and comprehensive system of
education and examinations and has laid down specific
conditions with regard to attainment of the prescribed and
approved experience of tax work acceptable to the Council.
Besides this, strict disciplinary rules for exercising
control over the conduct of members on admission and for the
students on registration have been laid down to ensure that
all those who constitute part of this organization abide by
professional ethics and do not commit breach of discipline.
This is very vital for every professional Institute and its
members and students alike.
Besides its role as an educational institution to promote
the cause of development of preliminary, post-graduate
diploma and professional education in Taxation Management
the Institute will play a vital role in streamlining the tax
consultancy practice in Pakistan and regulating the
profession of taxation as far as it is practiced by its
members in particular and others in general.
This Institute besides disseminating professional education
in taxation intends to enforce a code of professional
conduct for tax consultants, executives and students of the
Institute and at the same time to meet the demand for tax
specialists in Pakistan.
3. Institute as a professional body
Institute of Taxation Management offers Certificate, Diploma
and Professional courses of study on taxation. The courses
of taxation offered by other Institutes and the Commerce
Faculties of various Pakistani Universities at the bachelors
and masters level are inadequate in
Content and scope do not meet the requirement of business
and industry for specially trained and skilled work force.
The professional status of the Institute of Taxation
Management could be judged from the following components,
which a professional body generally inherits:
enjoys independent statutory status, and therefore, does
not require affiliation with any university or board of
(ii) It confers professional membership upon those who
qualify the prescribed conditions of eligibility for
admission as members of the institute,
(iii) It offers different level of courses on taxation
management as described above and has set sophisticated
(iv) It lays down attainment of practical working
knowledge or prescribed experience of tax work of the
nature acceptable to the Council of the Institute,
(v) It has laid down strict code of Professional Conduct
and Ethics for its members and students.
as an Examining Body
Considering the international practice of professional
Institutes to restrict their activities to holding of
examinations only as the major part of their educational
policy, the Institute of Taxation Management also follows
similar global tradition by remaining an examining body,
although it also aims at providing comprehensive educational
infrastructure and other facilities, like granting
affiliation for tutorial services for its registered
students to other Institutes.
5. Council of the Institute
The Council of the Institute consists of eminent
educationists, tax consultants of high caliber and persons
of tangible repute.
The Council is vested with the absolute executive power to
manage and control the affairs of the Institute through the
Secretary/Chief Executive. The council has also delegated
some powers to special high powered committees to perform
Council’s routine functions on their behalf. However,
reference to Council is essential on major policy matters.
Council’s decisions are absolute and final in all matters
and are not challengeable. It is also empowered to exercise
discretionary powers in cases deemed appropriate.
The list of Council members appears on this prospectus in
6. Office-bearers of the Institute
The list of office-bearers appears on this booklet. The
Articles of Association of the Institute provides for the
election of the following office-bearers whose powers,
duties and functions have been fully described in the
constitution of the Institute:
(iii) Chief Executive / Secretary
The President and in his absence the Vice-President is the
constitutional head of the Institute. The Chief Executive /
Secretary is the executive head of the Institute as provided
in the Articles of Association.
7. Special Committees
The Council has constituted the following Special Committees
for the exercise of powers, which the Council is empowered
to exercise under the constitution.
Each of these Committees is headed by a Chairman elected by
the Council. The powers and functions of these committees
are briefly described in the next chapters of this booklet
dealing with the caption concerning each of them separately.
8. Career prospects for Tax Professionals
Every organization has tax problems. The large ones, who
have a finance and accounts department, employ tax advisors
and tax accountants to deal with the company or firms’ tax
matters. The small ones however, do not afford to employ a
whole time tax advisor or a tax accountant and therefore,
engage an independent tax consultant.
Therefore, opportunities exist for the tax professionals to
be gainfully employed by these organizations either as tax
advisors or tax accountants or for engagement in tax
consultancy practice, either independently or in association
with a practicing firm of tax consultants.
Membership of the Institute carries high academic and
professional status and surely brightens the prospects for
career advancement for those who qualify its examinations
and fulfill the other eligibility conditions for membership.
The members of the Institute could also be employed as tax
consultants and tutors at professional Institutes.
Employment opportunities also exist in the Federal,
Provincial and Local Government Departments and the
nationalized industries and financial institutions.
The Institute also offers attractive possibilities to
qualify professionally for those who are already employed in
various private and public companies, national and
Organizations, and semi-government and government
organizations and nationalized industries, departments of
income tax, sales tax, excise duty and customs duty etc.
This will help them not only in improving their educational
and technical background on taxation but would also make
them eligible for further promotions and advancement in
career both within the organization where they are presently
employed and outside.
9. Employment Prospects for tax professional in banks,
Financial institutions and non-trading organizations.
Tax professionals could be usefully employed in the
following organizations besides trading and industrial
• Banks and
• Insurance Companies.
• Building Companies and Societies.
• Hotels and Restaurants.
• Airlines and Tourism Business.
• Engineering, Consultancy, Research and Educational
• Local and Municipal Bodies.
• Central Board of Revenue and its various tax
departments namely, income tax, sales tax,
excise and customs etc.
• Government and semi-government organizations.
• All other organizations who sell services and
specialized skill and goods not covered by the