Income Tax and Related Services
BYOTT provides taxation services to very wide range of corporate and private clients and our services include the following:
- Preparation and filing of tax returns pertaining to income tax of corporate clients.
- Preparation and filing of tax returns pertaining to income tax of individuals, association of persons, trusts, registered firms and not for profit organizations.
- Preparation and filing of wealth statements of individuals along with reconciliation and tax planning.
- Attending hearings and assisting clients in preparation of information and explanation for submission to the tax authorities and dealing with matters leading up to finalization of assessment.
- Filing and dealing with appeals before the appropriate tax authorities
- Advising clients on tax planning and on specific tax problems
- Conducting tax audits to ensure the compliance of provisions of tax laws.
- Obtaining tax exemption certificates.
Sales Tax (GST / VAT) SRB (Services)
General Sales Tax (GST), which is a modified form of Value Added Tax (VAT). In Pakistan, since recent years, more and more goods and services are being brought within the ambit of the GST regime and GST occupies a pivotal place in the current regime of taxation. Rampant changes in the GST law and lack of knowledge on the part of tax administrators and taxpayers have made it intricate and difficult.
Our tax professionals will not only keep you aware of developments that may affect your business, but also will help you to interpret their significance and integrate a plan into your business strategy.
We are providing a full range of indirect tax services that include sales tax advisory services, sales tax system evaluation and other ancillary matters.
We have experience in;
- Applying for and obtaining GST registration.
- Maintenance and preparing of GST Record/GST book keeping
- Preparation and filing of Monthly GST Returns
- Advises and pursuing in claim for adjustment of input and output taxes, following up GST exemption(s) and GST audit
- Representation on behalf of the clients before GST assessment authorities and appellate authorities on contentious GST issues and dispute resolution
- Correspondence with the Central Board of Revenue (CBR) for removing fiscal anomalies and obtaining Ruling on obscure GST related issues
- Reviews of existing systems and monitoring to highlight possible areas of exposure to sales tax assessments and associated penalties.
There are growing number of businesses in Pakistan who would like to export and likewise there is interest around the world to sell goods in Pakistan. No matter if you are an importer or exporter, we assist you with any double taxation treaties / reliefs that will ensure that the business does not pay double tax.
All businesses have transactions and it has tax implications, it can be a simple transaction between a buyer and a seller or can be a complex transaction i.e. an acquisition, refinancing, merger or other. The proper understanding of the tax impacts in necessary as otherwise this may result in penalties and fines by the FBR. It is not just FBR, say in an acquisition of a company if tax is not given adequate attention then at the end you may realize that you have bought a company with tax liability equal to your share capital. Our team ensures that this does not happen to you.