Indirect Tax
A. F. Ferguson & Co. Indirect Tax Practice is your business partner in addressing fiscal challenges through the core value proposition of the strategic management of indirect taxes. We offer comprehensive advice and assistance in all areas of indirect taxes from Customs to Federal Excise. All this is backed by litigation support at every appellate stage.
Sales Tax is a tax on value addition and a multi point tax, which is levied at every stage of sale. Sales Tax is not just a taxation issue; it spans the entire value addition process. It is collected at the stage of manufacture/resale and contemplates rebating of tax paid on inputs and purchases. It provides a broad tax base and more and more businesses will come in its net. Federal Excise Duty is a levy on manufacturing sector as well as on services sector. Customs Duty is levied on items imported into Pakistan, various items are exempted from Customs Duty, and at the same time some are levied at higher and lower rates, thus it requires expert advice
Potential Issues
- You need to maximize indirect tax recovery.
- You want to increase margins.
- You want to ensure your group maximizes efficiencies for indirect taxes.
- You want to improve cash flow.
- Your organization has a high level of customs or excise duty and you want to ensure you don’t overpay.
How A. F. FERGUSON & CO. can help
Strategic Consulting and Advisory
- Advice on classification, valuation, applicability of taxes on transactions and admissibility to tax benefits/exemptions
- Opinions on indirect tax issues
- Identification of innovative tax planning opportunities
- Formulating indirect tax efficient business models
- Undertaking comprehensive reviews of business operations
- Carrying out health checks aimed at providing assurance in tax compliance
- Conducting indirect tax specific due diligence reviews (buy side/sell side)
Compliance Support
- Indirect tax compliance support/outsourcing
- Preparations of customized compliance manuals on all indirect taxes
- Centralized coordination for tax payments, filing of returns & compilation of documents
Litigation support and Representations
- Drafting appeals & submissions
- Appearances & arguments before adjudication & appellate authorities
- Briefing Legal Counsel on need basis
- Representation before relevant Government authorities on tax & trade policy issues
