Direct & Indirect Tax Services in pakistan

Direct Tax Services

The Professional Accounting Services (paservices) Direct taxes are a key component of any economy, enabling the government to levy taxes directly from taxpayers’ income to support the day-to-day running of the country as well as its long-term, objectives.The Pakistan Tax Department has created specific tax laws, which set out the obligations that various taxpayers must adhere to. If taxpayers do not comply with these, they may incur penalties. Our Direct Tax team helps clients to ensure that they fulfil all tax obligations on time, and provide advice on what they must do to ensure compliance.Strong business strategies must be backed by the right tax advice. The challenging world of today has resulted in fierce competition. Attaining reliable direct tax services in Pakistan could be challenging. The value of creative tax strategies and careful planning to minimize tax incidence, provide the much-needed cutting edge over rivals and face the challenges of global avenues has been recognized by corporate entities.Professional Accounting Services (paservices) direct tax in Lahore is a tax that a person or organization pays directly to the entity that imposed it. An individual taxpayer, for example, pays direct taxes to the government for various purposes, including income tax, real property tax, personal property tax, or taxes on assets

Our Direct Tax Services included

Preparation and review of Income Tax Challans of salaries and other than salaries
Preparation and filing of Bi-Annually Withholding Statement of other than salaries
Preparation and filing of Annual Withholding Statement of salaries
Handling FBR Maladministration before Tax ombudsman’s office
Calculation and filing of Quarterly Advance Tax liability
Income Tax Exemptions on payment to Non-Resident
Income Tax Exemptions on local payments and import
Representation before FBR for rulings / clarifications
Preparation and filing of Annual Tax Return
Preparation and filing of Wealth Statement
Compliance of EOBI, SESSI & PESSI payments
Training and knowledge sharing for clients
Alternative Dispute Resolution of Tax Disputes
Formation of Provident and Gratuity funds
Compliance of Professional tax payments
Compliance of Stamp duty payments
Monitoring of Withholding Taxes
Income Tax Audit & Assessment
Income Tax Advisory
Income Tax Appeals
Income Tax Refunds

Indirect Tax

Sales Tax is a tax on value addition and a multi-point tax, which is levied at every stage of sale. Sales Tax encompasses the entire value addition process and supply chain partners. In view of that its importance to business has phenomenally increased. Federal Excise Duty is a levy on manufacturing sector as well as on services sector. 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. Indriect tax in Pakistan all of the provinces and the capital territory have enacted their own piece of legislation for services taxation. To meet the compliance and regulatory requirements and be tax efficient at the same time is a daunting tasks for the businesses. We assist the business in fulfilling this task.Indirect taxes play a growing role for most firms as regulations around Pakistan, customs systems, and international trade increase.Poor indirect tax management can strictly affect cash flow, allow the over or underpayment of tax and attract penalties for non-compliance.Our Professional Accounting Services (paservices) Indirect tax team is ready to help review your company’s current indirect tax position and provide relevant advice, planning and impact analysis on a range of indirect taxes and help companies with their economic activity.

Strategic Level

Developing detailed planning strategies (including industry specific issues) to help reduce clients’ administrative and tax costs from indirect taxes which interalia includes.Identification of tax efficient and effective planning opportunities.Formulating indirect tax efficient business models.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.Litigation Advising clients to manage disputes on tax matters with authorities including representation before tax and appellate authorities and liaison with lawyers in appeals before the High Court and Supreme Court.

Tax Health Check and Due Diligences

  • Ascertaining the tax liabilities (if any) that affect the financial performance of the entity, once the investment
  • disinvestment has been concluded.Carry out diagnostic health check analysis from a tax perspective.
  • Buy-side and sell-side tax due diligence for strategies acquisitions and disposals.
  • Our Indirect tax services include
  • Trade and Customs
  • Excise TaxVAT Advisory

Indirect Tax Laws in Pakistan

  • Islamabad Capital Territory Sales Tax on Services Ordinance, 2001.
  • Khyber Pakhtunkhwa Sales Tax on Services Act, 2013
  • Baluchistan Sales Tax on Services Act, 2015
  • Punjab Sales Tax on Services Act, 2012
  • Sindh Sales Tax on Services Act, 2011
  • Federal Excise Act, 2005
  • Sales Tax Act, 1990

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