Taxation
Taxation is an axiomatic unescapable reality in all modern business ventures. We at RA help businesses in designing result oriented and focused strategies for optimizing taxes, implementing innovative tax planning and effectively managing regulatory compliance.
While ensuring that the RA people provide the highest standard of professional services in Taxation, we have simultaneously put in place mechanisms of quality control and ethical compliance to ensure adherence to the highest standards of integrity and ethical standards of our professional and regulatory bodies.
Our team members bring their extensive professional experience to the taxation services provided by RA which is then substantiated by the RA values of creating outstanding value for our clients and professionalism of the highest degree. Based on a keen and insightful understanding of the various issues and opportunities faced by the different business industries and sizes, we offer the following categories of services in our Taxation Service Line:
- Corporate Taxation
- Personal Taxation
- Indirect Taxation
Corporate Taxation
With increasing regulatory focus on tax governance and broadening of tax base, tax compliance has never before been a more urgent business need. And understanding the tax implications of their business activities is an indispensable cornerstone of strategic business success in modern economic scenario. The RA tax team helps our clients effectively achieve their business goals by innovative tax planning and effectively managing their regulatory tax compliance. We provide the following tax services for our corporate clients:
- Tax advisory
- Tax Due Diligence
- Tax Function Advisory
- Corporate tax compliance outsourcing
- Tax Accounting Services
Tax Advisory
- Tax return preparation
- Representation services before the tax authorities including assistance in tax audits by the tax authorities
- Assistance in appeal proceedings and tax litigation support
- Tax withholding advisory
- Review of tax status and evaluation of tax exposures
- Approval of retirement benefits funds from taxation authorities and other related matters
Tax Due Diligence
- Audit of special purpose accounts with a tax perspective
- Ascertaining the tax liabilities (if any) that affect the financial performance of the entity, once the investment or disinvestment has been concluded
Tax Function Advisory
Corporates spend innumerable resources on setting up and maintaining their tax function. We at RA help our clients in obtaining maximum value from their corporate tax functions by offering the following services:
- Devising a tax strategy including tax saving measures in alignment with the corporate strategy as a whole;
- Increase company’s return on investment from the tax function
- Develop manual and / or automated tax processes and tax function.
Corporate Tax Compliance Outsourcing
In today’s fast changing tax regulatory environment, tax compliance has become an increasingly laborious and complex process with the result that many companies are finding it more cost effective to completely outsource their tax compliance function. We add value to the business processes of our clients by offering the following:
- Helping you free in house tax resources for alternative business efficient uses
- High technical quality
- Helping you be free of uncertain or escalating costs
- Helping you manager your tax compliance issues, risks and opportunities.
Tax Accounting Services
Corporates often have to maintain two sets of accounting records to meet the increasingly complex reporting requirements as per IFRS and calculations of tax exposures resulting from the local tax laws. We help our clients in maintaining these two different sets of accounting records and bookkeeping approaches to help them meet the requirements and expectations of various regulators i.e. SECP, Listing Regulators and the tax authorities by offering the following services:
- Assistance in the preparation or review of IFRS and / or local tax accounting obligations;
- Consulting in application of tax accounting knowledge to transactions and other business issues;
Personal Taxation
The recent efforts by the tax authorities in trying to broaden the national tax base has meant increasingly complex and cumbersome tax compliance environment for individuals and small business owners. While corporates often have sufficient technically proficient in house personnel to handle these complexities, individuals and small business owners often face the most difficulty in handling the often changing tax environment. For such clients, we offer the following services to help them conveniently manage their finances and tax matters:
- Obtaining National Tax Number (NTN);
- Filing of tax returns, certificates etc.;
- Identifying and advising on the tax planning opportunities available to minimize the tax burden based on the prevalent acceptable practices;
- Representation services before the tax authorities including assistance in tax audits by the tax authorities
- Assistance in appeal proceedings and tax litigation support
Indirect Taxation
Business activity in Pakistan is affected by various forms of multi-point indirect taxes including Sales Tax on goods and services (Sales Tax), Federal Excise Duty (FED) and Customs Duty. The Indirect tax team at RA help businesses strategically manage their indirect tax incidence to help them achieve their business objectives. We offer the following services in our Indirect Taxation Practice:
- Obtaining registrations with Federal and Provincial Sales Tax bodies;
- Advice on applicability of tax on transactions and exemption from the same;
- Identification and assistance in implementation of tax planning opportunities;
- Compliance support including filing of tax returns with the tax bodies;
- Centralized coordination for tax payments, filing of returns & compilation of documents;
- Advise on customs duty incidence and applicability
All our service offerings in the Indirect Taxation Practice at RA are supported by litigation support at every appellate stage.