Tax function role has gone miles ahead from managing and optimizing an organization’s tax impact and as tax advisor to managing the global tax exposure and as business advisor. Effective and efficient tax services provide competitive advantage by lowering the tax and administrative costs yet keeping your business compliant with the tax laws and regulations.
Our industry professionals have vast and extensive function knowledge that is accompanied by technical proficiency and strong relationship with our business partners. We understand the industry needs and business issues that our business partners faces which help us formulating business feasible and tax compliant solutions for them.
We offer a wide range of tax services including corporate and individual planning and compliance, as well as global projects that involve designing and implementing tax strategies to help produce sustainable long term tax saving. We have established a practice to meet clients’ needs providing a wide range of indirect tax services.
In Pakistan there are four provinces and a capital territory and all the provinces and the capital territory have enacted their own piece of legislation for services taxation. After 18th Amendment to the Constitution of Pakistan, provinces have been given right to levy tax on services in their territorial jurisdiction. Consequently scope of indirect taxes and its importance has increased manifolds.
To meet the compliance and regulatory requirements and be tax efficient at the same time is a daunting tasks for the businesses and we assist the business in fulfilling this task.
Indirect Tax Laws in Pakistan comprises of:
- Sales Tax Act, 1990
- Federal Excise Act, 2005
- Sindh Sales Tax on Services Act, 2011
- Punjab Sales Tax on Services Act, 2012
- Khyber Pakhtunkhwa Sales Tax on Services Act, 2013
- Baluchistan Sales Tax on Services Act, 2015
- Islamabad Capital Territory Sales Tax on Services Ordinance, 2001.
We can add value in following Areas:
- Tax return preparation and its filing with tax authorities.
- Representation services before the tax authorities including assistance in tax audits by the tax authorities.
- Assistance in appeal proceedings and tax litigation support.
- Advice on withholding tax obligations on payments to residents/non-residents.
- Review of tax status and evaluation of tax exposures.
- Approval of retirement benefit funds from taxation authorities and other related matters thereto.
- Advice on various domestic as well as international tax matters including cross-border transactions.
- Advice from a tax perspective in respect of agreements to be entered into by various parties.
- Advice on permanent establishment exposure and its tax impact.
- Developing detailed planning strategies (including industry specific issues) to help reduce clients’ administrative and tax costs.
- Advising on the sales tax/excise duty treatment / disclosures under periodic tax returns and potential liabilities of specific transactions.
- Advice on classification, valuation, applicability of taxes on transactions and admissibility to tax benefits/exemptions.
- Opinions on indirect tax issues.
- Carry out diagnostic health check analysis from a tax perspective.
- Buy-side and sell-side tax due diligence for strategies acquisitions and disposals.
- Ascertaining the tax liabilities (if any) that affect the financial performance of the entity, once the investment or disinvestment has been concluded.
- Assisting clients on disputes with tax authorities including representation before tax and appellate authorities and liaison with lawyers in appeals before the High Court and Supreme Court.
- Advising on repatriation strategies.
- Review of operations and analyze the impact of Base Erosion and Profit Shifting (BEPS) measures.