TAX SERVICES

Tax management has become vital issue for management due to ever becoming strict tax laws. Many firms suffer great losses in the form of imposition of penalties by tax authorities due to minor negligence and carelessness of accounting staff pertaining to the tax matters.

Portfolio of our tax services consists of following:

 

1. Employment Taxation

 

1. NTN – Salaried Person

NTN is required for filing of income tax, being a non filer you attract  high/increased withholding tax rate on banking transactions, vehicle purchase and vehicle token.

1. Filing of Tax Return – Salaried Individuals

Mostly salaried persons presumes that  as tax is deducted on the payment of salary to them so they are not liable to file tax return. But one can face too worst legal consequences if return is not filed, specially if one enters in a sale or purchase transaction  of property or vehicles. We provide tax return filing services to the salaried individuals.

1. Personal Taxation ( Business)
2. NTN – Business Person

If you are a sole proprietor then only identity that you have is NTN as sole proprietors are not required to be registered with any other regulatory or registration authority. Further NTN is required to open a business account.

It is required for filing tender notices and bids with government departments and multinational companies.

1. Filing of Tax Return – Business Individuals

If you are a business individual then filing of return is more important for you than that of a salaried individual.  Further being non filer you attract higher withholding tax rates on banking transactions , vehicle token, vehicle purchase / transfer, supplies and services provided by you

• Sales Tax Registration – Business Individuals

Sales tax registration for business individuals is required if any individual is involved in taxable activities. Sales tax registration is also required to enter bidding or tendering process with a government department or multinational company, even a business is not involved in taxable activities.

                          Required Documents for Sales Tax:

1. Copy of CNIC of owner
2. NTN of the Business

• Lease Agreement or Ownership Documents

1. Paid Electricity Bill of Office
2. Letterhead of Business
3. Bank Account Maintenance Certificate

 

1. Partnership/AOP Taxation
2. NTN Registration AOP

If you are an unregistered partnership then only identity that you have is NTN. Further NTN is required to open a bank account of partnership and to involve in bidding or tendering process.

1. Filling of Tax Return – AOP / Partnership Firms

Partners are jointly and severally responsible for payment of all liabilities of firm. If you are a partner in a firm then make sure that your firm file tax return regularly. Further being non filer AOP/ Firm you attract higher withholding tax rates on banking transactions, vehicle token, vehicle purchase / transfer, supplies and services provided by you

• Sales Tax Registration – AOP/ Partnership Firms

Sales tax registration with FBR is required for AOP is required if AOP is involved in taxable activities.

 

1. Corporate Taxation
2. NTN – Company

Company is required to file income tax return, whether  operational or non-operational , in any case a company will must file tax return. We offer NTN Registration services to companies. Higher withholding tax is applicable on business transactions relating to both supplies and services.

1. Filing of Corporate Annual Tax Return

All companies are required to file income tax return, whether  operational or non-operational , in any case a company will must file tax return. Each director is responsible for fulfillment of all legal formalities. If you are a director in a company then make sure that your firm file tax return regularly. Further being non filer corporate entity you attract higher withholding tax rates on banking transactions, vehicle token, vehicle purchase / transfer, supplies and services provided by you

 

• Sales Tax Registration Companies

Sales tax registration with FBR is required for company if any company is involved in taxable activities.

Sales tax registration with FBR is required for a company is required if  company is involved in taxable activities.

 

1. Filling of Corporate Sales Tax Return

If one is registered for general sales tax, one is liable to file monthly sales tax return on regular basis. Sales tax registration is necessary for every business, wishes to enter any transaction with a government department, many multinational companies also put this restriction on vendors.

An individual or company having sales tax number is required to file monthly sales tax  return even one has no business activity  during a month. In case on non compliance the filing requirement of sales tax return heavy penalties and blockage of  sales tax number can be faced by defaulters.

 

1. NGO Taxation

 

1. NTN Registration

The income of an organization which is involved in religious, educational, charitable, welfare or development purposes activities is exempt from tax. No tax is payable on any donation, grant or charity which an Non Government/Profit Organization (NGO / NPO) receives to carry on its operation and projects. But under tax law an NGO sector is required to deduct tax while making payments, further filing of tax returns and preparation of accounts is also mandatory for all type of NGO’s. So NTN registration is also necessary with FBR for an NGO to fulfill legal obligations under tax law.

 

 

 

1. Tax Exemption Certificate

Every NGO or NPO is required to must get exemption certificate to avail the benefit of exemption from tax. The certificate is issued by the Commissioner Inland Revenue (previously known as Commissioner Income Tax) for a specific period.

• Filing of Annual Tax Return

An NGO or NPO are registered by government under various statues, an organization may opt registration under company law, trust law and society law but all type of NGO/NPO are required to file tax returns. We provide services of filing of tax returns to NGO’s as well, currently various NGO’s are availing our this facility.

1. Provincial Sales Taxation

After the 18th constitutional amendment in Constitution of Islamic Republic of Pakistan collection of sales tax on services came under the domain of provinces, latter provincial revenue authorities / boards were constituted in provinces.

Now the service providers are required to be registered with relevant provincial revenue authority in the jurisdiction of which services are rendered. If a business providing services in two or more province then registration with all relevant provincial revenue

1. Punjab Revenue Authority (PRA)

• Registration with Punjab Revenue Authority (PRA)
• Filing of Monthly Sales Tax Return
• Consultancy regarding provincial sales tax rates, changes in provincial laws and related matters

1. KPK Revenue Authority (KPRA)
   • Registration with KPK Revenue Authority (KPRA)
   • Filing of Monthly Sales Tax Return
   • Consultancy regarding provincial sales tax rates, changes in provincial laws and related matters

• Sindh Revenue Board (SRB)
• Registration with Sindh Revenue Board
  • Filing of Monthly Sales Tax Return
  • Consultancy regarding provincial sales tax rates, changes in provincial laws and related matters

 

1. Balochistan Revenue Authority (BRA)

• Registration with Balochishtan Revenue Authority
  • Filing of Monthly Sales Tax Return
  • Consultancy regarding provincial sales tax rates, changes in provincial laws and related matters

1. Islamabad Capital Territory

• Registration under Islamabad Sales Tax on Services Ordinance,2000
  • Filing of Monthly Sales Tax Return
  • Consultancy regarding provincial sales tax rates, changes in provincial laws and related matters

 

1. Tax Advisory Services
2. Tax Planning

Tax planning is important task of overall financial management we provide tax planning facility to our clients to provide legal avoidance and safety from any adverse consequences.

Acquiring Income Tax exemptions from Commissioner Income Tax under different provisions of Income Tax Law

1. Filing of Periodic Tax Statements

Heavy penalty is imposed if various periodic statements, other than tax return, is not filed. Companies and individuals / partnership firms (sales tax registered and having annual turnover of Rs. 50 million ) are required to deduct withholding tax , deposit it and file withholding tax statement with FBR.

In case of failure to deduct withholding tax or filing statement of withholding tax heavy penalties are imposed by tax department.

 

Our consultancy services relevant to filing of statement are as follows:

• Filing of statement of tax collected and deducted
• Advice about withholding tax deductions
• Advice on various issues relating to withholding tax, for instance time, manner, payment, exemption etc
• Filing of quarterly statement of advance tax
• Calculation of advance tax
• Presentation of Clients on Hearings

We appear on behalf of our clients before various  tax authorities, such as Regional Tax Office, Commissioner Appeals and Income Tax Appellate Tribunal.

• Drafting of replies of notices to present view point of clients
• Legal research to make a legal opinion, on behalf of clients
• Presentation of clients before tax authorities

1. Filing of Appeals

In case of non filing of return and wealth statement Commission Inland Revenue (Commissioner Income Tax) may issue order to pay tax, estimated by him. The assessment order issued by Commissioner can be challenged by the taxpayer. We review assessment orders and advise on filing of appeals, if required.

1. Filing of appeals Before Tax Ombudsman

Federal Tax Ombudsman (Tax Mohtasib) was established by Federal Government to provide relief to taxpayers. If  any taxpayer has  complaint against tax authorities application  can be filed with Ombudsman.

1. Import and Export Taxes Guidance

Provision of sup port and  assistance reltating to applicable taxes , duties, excise and customs charges for import and export of any particular item or goods.

 

1. WeBOC Registration

WEBOC stands for Web Based One Customs developed by FBR to  facilitate importers and exporters. It is a web based system for filing Goods Declarations (GD) for import and export cargo., which can be used by both Importers, Exporters and their Customs Clearing Agents. At this point, WEBOC is necessary to carry out the business of import and export or both.

 

Our Services relating to WeBOC registration are as follws:

• Support and guidance for registration
• Documentation for registration
• Fee deposit
• Filing of registration form