Our Tax Division is headed by a highly qualified and experienced expert in tax laws. This division is responsible for rendering advice to clients on all issues concerning the entire range of taxation laws applicable in Pakistan quickly and effectively. Effective tax advice can give your business a competitive advantage by lowering the tax exposure and the risk of non-compliance with regulatory laws.
The complexity of implications of tax provisions and constantly changing legislations require continuous update and development of new strategies to help produce sustainable long-term tax savings as well as exploring opportunities to help clients manage and reduce their tax burden.
Our taxation services comprise corporate and individual planning and compliance, as well as designing and implementing tax strategies for specific business issues in which tax is considered into the overall business strategic planning and decision-making process. Our tax practice comprises of;
- Income Tax laws including capital value and value additions
- Sales Tax
- Federal Excise Duty
This division deals with tax cases at all levels of representation including on original and appellate sides. Taxation services are also offered to our clients on regular retainer ship basis. This covers wide range of services such as filing of returns of income, monthly and annual statements of deduction of withholding taxes, making compliance of notices issued by Inland Revenue Department, advising on any matter relating to deduction of withholding taxes from salaries and other than salary cases, attending the cases of monitoring of withholding taxes and advising on any tax matters referred by the clients.
Corporate Taxation
Taxation of income has a significant bearing on returns to investors and any ill-informed decision may affect the ultimate tax burden. Compliance with various regulatory provisions of tax laws is another area that is time-consuming and cumbersome. Keeping abreast of the developments in tax laws and evaluating their impact can result in significant economic benefit. Timely compliance with regulations not only requires additional manpower, some times at much higher cost, but also may affect other activities of the organization. To satisfy the needs of our clients, we provide a wide range of services, either advice or compliance assistance, to suit any business enterprise.
Our range of services in the area of corporate taxation includes:
- Advisory services including determination of income and chargeability of tax, exemptions, and withholding tax matters
- Compliance services relating to corporate taxation
- Representations before tax authorities
- Representations before the Inland Revenue, Federal Board of Revenue
- Representations in appeals
- Representing various organizations at different tax forums.
Personal Taxation
Individuals of high net-worth are prone to tax default and inefficient planning, which results in higher incidence of tax. Their situation becomes more critical in view of their varying interests and sources of income. Although, tax compliance is the responsibility of the individual concerned, but generally organizations do provide such services to the employees, as an additional benefit. To help reduce the risk of default for high net-worth individuals and to assist organizations in fulfilling their assumed responsibilities, we provide services, which include:
- Tax planning for expatriates
- Compliance services with respect to personal taxation
- Advisory services to help reduce tax exposure or increase tax saving
Indirect Taxes
Indirect taxes comprises customs duty, federal excise duty and sales tax and generally regarded as value-added taxes (VAT). The growing emphasis by the government on indirect taxes, particularly the sales tax has enhanced the needs to effectively plan the working by introducing tax avoidance scheme.
Our professionals provide a wide range of indirect tax advisory services that includes sales tax system evaluation, sales tax audit, sales tax on services under provincial ordinances and include but not limited to:
- “Health check” reviews of existing systems and practices to highlight possible areas of exposure to sales tax assessments and associated tax burden.
- Advising on the sales tax treatment and potential liabilities of specific transactions.
- Developing detailed planning strategies to help reduce clients’ administrative and tax costs from indirect taxes.
- Working on disputes with tax authorities including representation before tax authorities and liaison with lawyers in appeals
- Advise on logistical planning for potential savings in tax and other costs relating to customs, excise and other indirect taxes
- Assessment of valuation planning to highlight duty and tax saving opportunities by looking at transfer pricing strategies