Taxation Services
Our Tax Knowledge & Solutions Team is a dedicated group of professionals, rich in experience on Tax and Regulatory matters. Our team stays constantly abreast with changes in tax policies, administration & regulations and domestic & international jurisprudence. We endeavor to identify potential threats & opportunities and advise on appropriate strategies to mitigate exposure and optimize tax incidence on our clients.
At Hemani Associates, we strive to develop a detailed understanding of our clients’ business ecosystem and industry sector to offer insights on sectoral developments and assist our clients to develop effective strategies and business models. We help businesses to maximize value by identifying and implementing comprehensive strategies for corporate, international and local taxes. This helps ensure that the cascading effect of all taxes together is minimal on our clients.
Hemani Associates can help you in providing taxation services for following types of taxes:
a) Direct taxes:
The direct taxation mainly includes the Income Tax which in Pakistan is governed by the Income Tax Ordinance, 2001. The direct taxation also includes one of the most discussed topic of these days of the International Taxation and the Transfer Pricing. However, direct tax doesn’t limits itself to only income tax rather, we also deal in property taxes.
b) Indirect taxes:
The indirect taxes would include taxation on the supply of goods or rendering of services which is dealt by the Sales Tax Act, 1990 in case of goods whereas, the provision of services in a provincial subject which is imposed and governed by each of the Provincial Government whereas, the provincial sales tax laws have been formulated. The other types of the indirect taxes include the Federal Excise Duty governed by Federal Excise Act, 2005 and Custom Duty governed by Customs Act, 1969.
Broadly, the firm provides clients with a complete spectrum of tax support services which includes:
1. Advice on Tax Planning opportunities to optimize tax incidence
2. Assistance in Tax Compliance
3. Assistance in Tax Litigations at different Appellate Fora.
4. Tax Accounting
5. Advisory services in terms of prevailing taxation laws of Pakistan
We can provide you with a comprehensive tax advisory service, depending on your specific needs. We will handle all tax documents and tax return forms. In addition, our experienced tax consultants will gladly advice you and recommend an optimal solution for every tax problem your business faces.
No matter you are an individual, association of persons or a company we have a solution for all. For the sake of convenience have divided taxation into different components.
i. Corporate Taxation:
We assist both local and global multinational entities, in a tax-efficient manner, to achieve their business goals. The firm provides, from the perspectives of domestic law and the international tax treaty network, a one window solution from conceptualization of the tax strategy to its implementation keeping in view the main objectives of the entity. Our range of services in the area of corporate taxation includes:
- Registration and enrollment with Federal Board of Revenue (“FBR”);
- Formulating effective and tax-efficient cross-border strategies;
- Capitalizing on planning opportunities presented by local tax law as well as treaty network;
- Structuring acquisitions, divestitures and corporate reorganizations for tax optimization;
- Preparation and filing of all statutory forms, returns and statements;
- Rendering opinions and advises on all aspects of taxation laws and keeping the client abreast with impact of developments and amendments made in these laws;
- Appearances before all levels of FBR; and
- Preparation, filing and arguing of appeals, petitions and references before all appellate forums up to the Supreme Court of Pakistan.
ii. Personal Taxation:
The firm comprises of personnel who possess several years of experience and expertise in tax consultancy and management. The basis of expertise is advisory and successful implementation at cross section of industries which have stood the test of successful acceptance at various assessment and judicial levels.
We provide following services in respect of Personal Taxation:
- Registration and enrollment with FBR
- Tax Planning
- Sharing opinions pertaining to both Resident and Non-Resident taxpayers considering implications of taxation laws and double taxation treaties.
- Preparation and filing of all statutory forms, returns and statements including wealth statement.
- Appearances before all levels of FBR
- Preparation, filing and arguing of appeals, petitions and references before all appellate forums up to the Supreme Court of Pakistan