Hafiz Zubair Ayaz

Hafiz Zubair Ayaz Email and Phone Number

Taxation Manager @ Medics Laboratories (Pvt.) Ltd.
Karachi, PK
Hafiz Zubair Ayaz's Location
Karāchi, Sindh, Pakistan, Pakistan
About Hafiz Zubair Ayaz

An Accounts/Finance & Taxation personnel with a strong grip in Accounting & taxation, Having 8 years of working experience in audit firm, manufacturing & different service/retail sectors.Here comes the short review of my profile.I am currently working as a Deputy Manager in a pharmaceutical company which is a manufacturing concern based in Karachi.I am taking care of all major account & taxation functions such as management of AR/AP, book keeping review, monthly ledgers reconciliation, fund flow management, etc. all returns & statements review and submission, litigation & proceeding matters, Tax planning & organization, Preparation of Individual/AOP/company returns etc. and manage team as well to get the work done.Before that I used to work in IT, Media, Garments, Service sectors & Audit firm.I started my career with a QCR rated chartered accountant firm name F.R. Merchant & Company.

Hafiz Zubair Ayaz's Current Company Details
Medics Laboratories (Pvt.) Ltd.

Medics Laboratories (Pvt.) Ltd.

View
Taxation Manager
Karachi, PK
Website:
medicslab.com
Employees:
128
Hafiz Zubair Ayaz Work Experience Details
  • Medics Laboratories (Pvt.) Ltd.
    Taxation Manager
    Medics Laboratories (Pvt.) Ltd.
    Karachi, Pk
  • Medics Laboratories (Pvt.) Ltd.
    Taxation Lead
    Medics Laboratories (Pvt.) Ltd. Aug 2023 - Present
    Karāchi, Sindh, Pakistan
    Provide business-oriented tax advice to internal stakeholders on new business initiativesDrive change and tax awareness across organizationDevising strategy for provincial tax audits & litigation and relationship with authoritiesAnalyze, review and preparation of federal & provincial sales tax returns and advise in light of prevailinglegal statuesIdentify and execute tax planning initiativesDevelopment of the system of tax as per the requirement of direct & indirect taxAnalyze the data related to income & sales tax monitoring’s, assessments, Audits & Compliance ofnotices issued by the tax authoritiesAttend hearings in LTO, MTO, RTO and SRB on litigation mattersAdvice all stakeholders on direct & indirect taxation matters, provide innovative tax planning &identification and mitigation of tax risksIncentive taxable working of field force staffPrepare budget commentary every year according to the SectorReview business contracts / agreements or arrangementsReduce / minimize the tax costsResponsible for payments/returns & adjustments of foreign business of non-resident director’sComputing/e-filling of director’s & company’s income tax return, along with workingResponsible for Individuals/companies income & sales tax exemption/refundBusiness partnering with cross functional teams to resolve their tax related issued and managing,coaching, developing and leading tax team
  • Medics Laboratories (Pvt.) Ltd.
    Assistant Manager Accounts & Taxation
    Medics Laboratories (Pvt.) Ltd. May 2022 - Jul 2023
    Karāchi, Sindh, Pakistan
    Accounts:Chart of accounts management according to financial reporting in ERPObtains revenue by oversee invoices, resolving missed payments, updating financial records, and effectivelysupervising staff engaged in similar activities, ensure that all practices comply with the lawUpdate on withdrawal, expiry GST claim working on stock returned invoicesRecord Accrual of overall companyResponsible for MRP, TP, SP price changing strategy after the amendments in laws & Re-invoice to customersPrepare annual financials with manager & liaising with external & internal auditorsAdvise / train / improve the working standard of the staff working in finance departmentReceivables and payables managementVerify all the payments & expensesMaintains accounting ledgers by posting monthly account transactionsHandling salary/gratuity/FNF workingMaintain fixed asset registerTaxation:Responsible of all monthly income & sales tax payments including 236G/236H (Distributors, Retailers) alongwith reconciliation of ledgersE-filing of all WHT statements, all federal & provincial sales tax returns also advise in light of prevailing legalstatuesYearly GST Reconciliation of purchases, along with creditors Ledger Reconciliation (Liabilities)Preparation of forecasted taxable salary after the amendment in finance actReconciliation of all direct & indirect tax ledgers in financial auditW.W.F working regarding Income TaxComputation of quarterly advance tax liability u/s 147 and Annual income tax liabilityPreparation of data related to income & sales tax proceedings, monitoring, assessments, auditCompliance/Replies of all notices issued by the federal/provincial tax authoritiesKeep abreast of all changes in tax law, company law and other relevant laws such as E.O.B.I. law, socialsecurity law, and excise lawResponsible for eobi/sessi/excise working & handling notices from concern departments
  • Gcs Pvt. Limited
    Assistant Manager Accounts & Finance
    Gcs Pvt. Limited Jan 2021 - May 2022
    Karāchi, Sindh, Pakistan
    Process commercial & sales tax invoices, & verifying accuracy to ensuring proper authorization for paymentMaintain vendor accounts, including reconciling statements and resolving discrepanciesBudgeting and forecasting by providing insights into upcoming expense'sResponsible with month-end closing processes related to accounts payableCollaborate with other departments to ensure proper coding and allocation of expensesParticipate in audits and provide necessary documentation and supportMonitor customer accounts for timely payments and follow up on overdue balancesMonthly reconciliation of receipts for all stakeholders GL’sResponsible for aging reports and analyze accounts receivable data for trends and insightsSupervise and verify all the payments & expensesGear up on Management and Projected accountsPreparation & finalization of financials & notes to the accounts along with Income tax ReturnE-filing of federal & provincial sales tax return of FBR, SRB, PRA, KPRA & BRA also advise in light of prevailinglegal statuesResponsible for director return along with tax working/computationExperience in E-filling of SECP related tasks & withholding statements u/s 165, 149
  • Express News
    Senior Account Officer
    Express News Feb 2019 - Jan 2021
    Karāchi, Sindh, Pakistan
    Review all the payments, & assisting manager in preparation of financial accountsE-filing of federal & provincial sales tax returns FBR, SRB, PRA, BRA & KPKUsing relevant SRO’s, custom tariff for EIF & custom duty submissionHandling of all notices related to federal & provincial body & efficiently manage the tax audit processinitiated by the tax authoritiesResponsible for quarterly advance tax working u/s 147, & Income tax WHT statements u/s 165, 149, alsoobtaining the tax exemption certificates / tax refundsReview of all bank transaction’s vouchers & circulations
  • Biztech International (Levi'S Pakistan)
    Account Officer
    Biztech International (Levi'S Pakistan) Apr 2018 - Sep 2018
    Karāchi, Sindh, Pakistan
    Supervise & verify payments (principals & suppliers)Check incentives & expenses of managements & sales staffPreparation of management accountsGear up sales tax invoices with DSR along with monthly costing report of discountsE-filling of monthly & annually federal & provincial tax returns, Eobi, WHT statements u/s 165, 149 alongwith reconciliation of ledgersReconciliation of debtors/creditors & cash/bank accountsPreparation/Disbursement/Recording of payroll along with WHT tax ledger reconciliationReview of stocktaking & prepare monthly stock statement
  • F.R.Merchant & Co. Chartered Accountants
    Audit & Tax Semi-Senior
    F.R.Merchant & Co. Chartered Accountants May 2016 - Apr 2018
    Karāchi, Sindh, Pakistan
    Audit Experience:Conducting audit(s) of the client organization’s financial statementsPerformance of external and internal auditPreparation/Scrutiny of all types of vouchers/transactionsReview of stocktaking & physical verification of fixed assetsPreparation & review of payroll, disbursement, and taxation procedureDepreciation, inventory valuation & yearend adjustmentTaxation ExperiencePreparation & E-filling of monthly & annually Federal/Provincial tax returns & WHT statementsEnsuring timely, accurate filing of Director’s tax returns & wealth statementsBook-keeping assignmentsProviding tax advisory to clientsPreparation and compliance of FBR proceedings of clientsMajor ClientsM.M Group of CompaniesIqra UniversityMaple Pharmaceuticals (Pvt.) LtdFuji Film Group of CompaniesFOBC (Civil Hospital)

Hafiz Zubair Ayaz Education Details

Frequently Asked Questions about Hafiz Zubair Ayaz

What company does Hafiz Zubair Ayaz work for?

Hafiz Zubair Ayaz works for Medics Laboratories (Pvt.) Ltd.

What is Hafiz Zubair Ayaz's role at the current company?

Hafiz Zubair Ayaz's current role is Taxation Manager.

What schools did Hafiz Zubair Ayaz attend?

Hafiz Zubair Ayaz attended Institute Of Cost And Management Accountants Of Pakistan (Icma Pakistan), Federal Urdu University Of Arts, Science & Technology, Karachi., Federal Board Of Revenue, Institute Of Business & Professional Development, Karachi University, Government National College, Adamjee Academy.

Who are Hafiz Zubair Ayaz's colleagues?

Hafiz Zubair Ayaz's colleagues are Osama Khalid, Mustafa Ahmed Jamal, Mahreen Naeem, Erum Aleem, Alyan Khan, Sadia Panjwani, Ubaid Ahmed.

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