Income Tax
Your business will only achieve its true potential if you build it on strong foundations and grow it in a sustainable way. We believe that managing your tax obligations responsibly and proactively can make a critical difference. Our Tax Advisors are focused on finding and leveraging opportunities to help clients manage and reduce their tax burden. Domestic and International tax issues play a key role in management decisions. Therefore, we provide a comprehensive range of services in taxation covering direct as well as indirect taxes. We can help align your tax strategies with your business needs, meeting compliance obligations wherever they arise. Our team can advise you on all areas of corporate, international, indirect or personal taxation. We work with you to bring you the focused, appropriate and effective answers you need. We specialize in providing services to foreign companies and their employees working in Pakistan. Our services are tailored so that both international and local implications are taken into account in order to achieve highly structures of our clients thereby providing the most optimal compliance route. In taxation, our services cover all aspects of income tax, sales tax, federal excise, and other direct taxes. The services include tax registration; tax planning and strategy development; obtaining confirmations, clarifications and permissions from the tax authorities; conducting tax audits; preparation and filing of electronic tax returns, finalization of tax audit and undertaking representations, objections and appeals and seeking tax exemptions. Many types of businesses are exposed to indirect taxes, such as sales tax and excise duty, which can affect their competitiveness. The network of Trade and Customs professionals can advise clients on possible reductions of both administrative and tax costs, particularly in relation to the import or export of goods. Effective tax advice can give your business a competitive advantage through lower tax costs and the risk of regulatory challenge and sustainability.
Our services include:
- Tax Registration
- Conducting and Finalization of Tax Audits
- Preparation and Filing of Electronic Tax Returns & Statements
- Finalization of Tax Audit and Undertaking Representations
- Tax planning for individuals and corporate.
- Return preparation for:
- - Resident and non-resident Individuals, firms, Associations of persons.
- - All resident and non-resident corporate entities.
- Compliance of tax laws particularly in filing annual and periodical tax returns and management of withholding taxes.
- Preparation of replies to show cause notices and appearance before the departmental adjudicating authorities.
- Preparation and submission of letters / replies to various queries arising out of day to day engagements of the tax payers with the Inland Revenue authorities.
- Preparation, filing, defending appeals, reference applications, representations, complaints, petitions and suits, before Federal Board of Revenue, Inland Revenue authorities, Commissioner Inland Revenue (Appeals), Appellate Tribunal Inland Revenue, Federal Tax Ombudsman and High Court.
- Corporate and individual tax planning including of Trusts, Cooperative Societies and NGOs.
- Compliance services including preparation of income tax and sales tax returns.
- Representing clients before tax authorities and assisting in preparing appeals to the Tribunals & High Courts.
- International Tax Consultancy including tax on international transactions and advising on double taxation treaties.
- Approval as Non-Profit organization (NPO) under section 2(36) of the Income Tax Ordinance 2001.
- Business exemption under clause 58 of the Second Schedule to the Income Tax Ordinance 2001.
- Tax exemptions for educational institutions.
- Establishing gratuity funds, provident funds and other employees benefit schemes and their approval from tax authorities.
- Other tax exemptions as applicable from client to client.