Tax Laws
Pakistan’s tax regime is structured around four principal revenue sources: General Sales Tax (GST), Sales Tax on Services (Service Tax), Federal Excise Duty (FED), Customs Duty, and Income Tax. Over recent years, the government has increasingly focused on indirect taxes, particularly those levied on goods and services. Consequently, all manufacturers, traders, and service providers are required to pay substantial amounts of indirect taxes, while businesses and individuals alike must navigate the complexities of direct taxes such as income tax. Effective tax planning and strategy are essential to minimize liabilities and capitalize on available tax benefits.
At Equilegis Associates LLP, we offer an extensive range of tax advisory services, addressing both direct and indirect taxes to help our clients optimize their tax positions while ensuring full compliance with Pakistani law.
Indirect Tax Services
Our indirect tax services are designed to help businesses manage and minimize their obligations under various tax laws, including GST, Service Tax, FED, and Customs Duty:
- Sales Tax System Evaluation: We evaluate your current sales tax processes, ensuring they meet regulatory requirements and identifying areas for improvement.
- Sales Tax Audits: Our team conducts thorough audits of your sales tax filings to ensure accuracy and compliance, preempting potential issues with tax authorities.
- Sales Tax on Services: We provide expert advice on the application of sales tax under provincial ordinances, ensuring your business meets all local tax obligations.
- Compliance and Correspondence Services: We manage all aspects of your corporate tax compliance, from filing requirements to communication with tax authorities.
- Filing of Tax Returns: Our experts prepare and file your tax returns, ensuring they are accurate and submitted on time to avoid penalties.
- Tax Benefits: We identify opportunities for tax savings, helping your business take full advantage of applicable benefits and incentives.
- Planning and Strategy: We work closely with you to develop and implement tax strategies that minimize your indirect tax liabilities while ensuring compliance.
- Claiming of Refunds and Disbursal: We assist in claiming any tax refunds you are entitled to, ensuring they are processed efficiently and disbursed promptly.
- Record Keeping and Maintenance: We help you maintain organized, accurate records that comply with tax regulations and facilitate easy access for audits or inquiries.
- Advisory Services: We offer guidance on the determination of sales tax, exemptions, and withholding tax matters, helping you navigate complex tax issues.
- Representation Before Field Tax Authorities: We represent your interests in dealings with local tax authorities, ensuring your rights are protected.
- Representation Before the Federal Board of Revenue: Our team advocates on your behalf in front of the FBR, working to resolve disputes and secure favorable outcomes.
- Representation Before Courts in Appeals: Should tax disputes escalate to the courts, we provide expert legal representation to defend your position.
Direct Tax Services
In addition to our expertise in indirect taxes, Equilegis Associates LLP offers a wide range of services related to direct taxes, including Income Tax and Corporate Tax:
- Income Tax Advisory: We provide personalized advice on income tax matters, helping individuals and businesses optimize their tax liabilities and ensure compliance.
- Corporate Tax Planning: Our team works with businesses to develop effective corporate tax strategies that align with their financial goals and minimize tax burdens.
- Tax Return Preparation and Filing: We assist in the preparation and timely filing of income tax returns, ensuring that all filings are accurate and complete.
- Tax Compliance and Reporting: We help businesses meet their ongoing tax compliance obligations, including reporting requirements and documentation.
- Tax Dispute Resolution: Our team represents clients in disputes with tax authorities, working to resolve issues efficiently and favorably.
- Tax Audit Support: We provide support during tax audits, helping to ensure that your records are in order and your interests are protected.
- Wealth and Estate Planning: We offer guidance on wealth management and estate planning, focusing on minimizing tax liabilities and ensuring a smooth transfer of assets.
- Withholding Tax Matters: We advise on the management and compliance of withholding tax obligations, ensuring that businesses meet their responsibilities under the law.
At Equilegis Associates LLP, our mission is to provide our clients with the expertise and support they need to navigate Pakistan’s complex tax landscape. By offering strategic advice and comprehensive legal services, we help businesses and individuals alike reduce their tax liabilities, ensure compliance, and achieve their financial objectives.
