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Tax Advisory & Compliances

Cross Border Tax Advisory

Cross Border Tax Advisory We closely cooperate with the customer with the aim of offering explicit and practical solutions and satisfying particular business needs by considering the efficiency of tax expenditures. We consult in the following areas:

  • Analysis of the tax risks and opportunities in cross-border transactions (including M&A) and business relocation
  • Consideration of the mutual impact of local and foreign tax regulations, and the provision of solutions in line with the customer’s business needs
  • Establishing the optimal legal structure and form of entrepreneurial activity
  • Mutual Agreement Procedure & Advance Rulings & Advance Pricing Agreements
  • Litigation at all levels

DOMESTIC DIRECT TAX ADVISORY

  • Compliance for Direct Tax including preparation of statutory documents to be complied under tax law.
  • Appearances before Income Tax Authorities for assessments and verification
  • Tax Litigation at all levels
  • Tax Management Advisory
  • Search and Seizure and Survey Proceedings and Assessments pursuant to it
  • Business Restructuring to manage taxes

DOMESTIC TRANSFER PRICING

  • Compliance for Domestic Transfer Pricing including preparation of statutory documents to be complied under tax law.
  • Appearances before Income Tax Authorities including Transfer Pricing Officer and Dispute Resolution Panel for assessments and verification
  • Tax Litigation at all levels

TRANSFER PRICING

In an increasingly global business environment, fiscal authorities vigorously defend their national tax bases with detailed transfer pricing regulations, strict documentation requirements, sophisticated audit practices and significant penalties for non-compliance.  Multinationals must be able to present clear arguments to support transfer pricing decisions because the tax authorities reviewing a cross-border related party transaction might not agree on an appropriate ‘arm’s length’ price. The decisions organizations make must be substantiated by authoritative analysis and a good understanding of the local rules governing their transactions.

WE OFFER FOLLOWING SERVICES:

  • we help multinationals develop and implement commercially sensible, fiscally efficient transfer pricing policies
  • Transfer pricing planning and documentation
  • Dispute resolution - when tax authority challenges arise, we can help companies respond with detailed, authoritative economic justifications for existing transfer prices including Dispute Resolution Panel proceedings.
  • Alternative dispute resolutions — we help multinationals access and manage their transfer pricing risk factors and pursue bilateral or multilateral Advance Pricing Agreements (APAs) or Competent Authority negotiations.
  • Mutual agreement procedure
  • Advance pricing arrangement.

INDIRECT TAX ADVISORY

SERVICES TAX

  • Registration under Service Tax Authorities
  • Record to be maintained and invoice.
  • Payment of service tax
  • Classification of services
  • Adjustment of excess service tax paid
  • Credit of service tax paid
  • Calculation Interest and penalty
  • Notice and visit by departmental officer
  • Service tax Registration
  • Making representation to the Central Board of Excise and Customs.
  • Service tax calculation, CENVAT Credit, and deposit of service tax
  • Service tax return
  • Help to arrive at proper assessable / taxable value of goods/ services
  • Service tax planning
  • Minimize liability on account of various notifications
  • CENVAT credit /refund, of Input/ input services used for providing export services Excise & Custom
  • Meeting client, visiting factory and analyzing the nature of manufacturing activity.
  • Excise Duty Planning
  • Preparation of Excise Registration Application (Form A-1/A-2) and obtaining certificates.
  • Assisting in Monthly/Quarterly Excise Duty Payment and timely submission of return.
  • Assisting in preparing the excise records/registers as per the rules whether in manual form or computerized.
  • Assistance and monitoring of Excise Audit
  • Giving legal replies to Excise department’s notices.
  • Internal Audit of Excise Records and assuring correctness of payments after utilizing available set off.
  • Registration and returns of First stage Dealer/Second stage Dealer
  • Assistance in maintenance of records of Dealers.
  • Obtaining Import Export Code (IEC) for Clients engaged in Import/ Export.

SALES TAX/VAT

WE OFFER “INNOVATIVE WAYS” TO IDENTIFY, PLAN AND VERIFY INCIDENCE OF TAXES UNDER VAT LAWS OUR SERVICES INCLUDE:

  • Advisory services with regard to applicability of the tax and procedural compliance like registration, assessments etc.
  • Clarification, updating on amendments with regard to VAT/CST & Profession Tax rates and provisions.
  • Liaisoning with the authorities for completion of assessments/business audits/refund audits under VAT/CST & Profession Tax Acts.
  • Appearing on behalf of your company for all liaison work and reply to notices from the commercial tax department.
  • Filing of appeals under VAT/CST & Profession Tax Acts.
  • Obtaining ELIGIBILITY & ENTITLEMENT certificates under Package Scheme of Incentives.
  • Procurement of CST Declaration forms from sales tax department.
  • Liaisoning with the authorities for completion of Search / Investigation matters under VAT/CST & Profession Tax Acts.

GOODS AND SERVICES TAX

The proposed levy of Goods and Services Tax ('GST') is slated to change the very manner in which the indirect taxes are levied and perceived in India. Planned to be introduced in India in April 2012, it is one of the most important tax reform initiative in India since independence which is bound to usher a standard shift in the way business is done in India.

WHY GST?

When we have VAT in almost the whole country and the system of central excise and service tax is well equipped with the CENVAT Credit, then why is there a need of GST? Well, this is needed to match the international phenomenon. It is needed to reduce the burden of Central Excise. The introduction of GST will certainly change the Federal system of Governance in our country in which states also have the right to collect taxes on goods.

WHY US?

We would be in the best position to deal with GST on account of following reasons:

  • Understanding GST requires specialized knowledge in the field Central Excise, Service tax and VAT.
  • We already have team of professionally qualified persons who are specialized in each of the above filed.
  • Our experience in Indirect taxes is more than 15 years.
  • We have been constantly monitoring the development of implementation of GST in India.

CORPORATE AND BUSINESS TAX CONSULTING

An effective corporate tax plan means keeping on top of trends and key issues. You should know how new tax laws and developments may affect your business now and in the future.

WE CAN DEVELOP AN APPROACH TO HELP REDUCE YOUR OVERALL TAX BURDEN BY, FOR INSTANCE:

  • Assessing the effectiveness of your business structures
  • Planning the form of receipts and expenditures to achieve enhanced tax treatment
  • Structuring acquisitions and dispositions tax-effectively
  • Identifying available tax opportunities.

CORPORATE AND BUSINESS TAX COMPLIANCE

As a result of ever increasing corporation tax compliance and reporting obligations, the complexities of complying with fiscal rules and harsher penalty regimes mean the tax compliance requirements of a business can have a significant impact. Often consuming a large amount of management time, effort and costs.

We can provide tax compliance services tailored to meet your needs, whether you require an independent tax compliance review, specific technical advice or a fully out-sourced tax compliance service, allowing management to focus on the core business

Our clients range from owner-managed businesses to complex corporate groups including corporate partnerships and companies in liquidation.

  • Preparation and review of tax provisions and notes for inclusion in individual company and consolidated group Statutory Accounts, including those prepared under IFRS
  • Interim tax reporting for accounting purposes
  • Preparation of company and group corporation tax computations and returns • Guidance and advice on complex tax rules and legislation under corporation tax self-assessment
  • Advice on how to maximize your tax reliefs and allowances
  • Advice on international tax compliance including transfer pricing and controlled foreign company reviews and applying for relevant withholding tax exemptions/reductions
  • Monitoring and advising on tax liabilities and due dates for corporation tax including quarterly installment review and calculations
  • Liaising with HM Revenue & Customs and dealing with correspondence
  • Dealing with HMRC enquiries
  • Monitoring, advising and preparation of claims and elections
  • An integrated service with all other areas of taxation including; VAT, Employee tax & incentives and remuneration planning
  • Where required, a fully outsourced service – we can act as an in-house tax team
  • A full international tax compliance service to ensure that the group’s non-UK tax compliance obligations are being met.

INTERNATIONAL TAX SERVICES

Global companies require global tax planning. It is not enough for a multinational company to adapt separately to each of its local operating environments. To take account of local, regional and national factors — and to thrive — a successful multinational company needs to adapt to all its environments. Tax is one of the most important environmental variables because it helps determine what kind of corporate structure is appropriate, where intellectual property should be located and how global supply chains should be configured to help mitigate overall effective tax rates.

  • Our professionals have the technical knowledge and experience to help organizations seize tax opportunities and avoid pitfalls.
  • Foreign tax credit tax advice
  • Cross-border structured finance tax advice Compliance and planning assistance in relation to international trade and customs issues
  • Advice on global indirect taxes
  • Valuations and other economic analysis

Our professionals seek to exemplify the principle 'think globally, act locally'. We keep our clients informed of current tax thinking and technical developments

CORPORATE TAX PLANNING

Corporation tax is a major obligation for businesses. Our Firm specializes in Search and Seizure Assignments and has its recognition and acclaim. We have handled assignments of several companies with technical finesse and meritorious articulation.

WE WOULD HELP YOU IN:

  • Tax Management Services: Attending to the matters of tax laws compliance.
  • Tax Planning: Advising clients on structuring tax-efficient business planning, including restructuring of business e.g. Amalgamations/ merger etc.
  • Tax Appeals: Drafting and representing tax appeals before appellate authorities like Commissioners/ Appellate Tribunal.
  • Corporate Taxation Advisory Services: Advising large Companies / Corporations on their income tax matters, including also foreign taxation matters on Indian corporations.
  • Services relating to Foreign Collaboration Agreements, NRIs Taxation, Double Taxation Avoidance Agreements, Reliefs etc.
  • Search and Seizure : Attendance and Liaisoning with investigation wing of Income Tax Department
  • Settlement commission and Authority of Advance Ruling: Preparation of relevant papers and attendance at proceedings
  • Liaisoning with Senior Tax Counsels for obtaining legal opinions, conducting tax litigations i.e. appeal court references and writ petitions etc.

Our professionals seek to exemplify the principle 'think globally, act locally'. We keep our clients informed of current tax thinking and technical developments

ADVANCE PRICING AGREEMENT

An Advance Pricing Agreement is an agreement between a tax payer and tax authority (i.e., Central Board of Direct Taxes), which determines in advance, the arm’s length price or specifies the manner of the determination of arm’s length price (or both), in relation to an international transaction. Hence, once APA has been entered into with respect to an international transaction, the arm’s length price with respect to that international transaction, for the period specified in the APA, will be determined only in accordance with the APA. The APA process is voluntary and will supplement appeal and other disputes resolution measures for resolving transfer pricing dispute.

The term of APA can be a maximum of 5 years, however there is no minimum period.

KEY BENEFITS OF APA

An APA provides the following benefits-

  • Certainty with regard to determination of Arm’s Length Price of the international transactions with respect to which the APA has been entered into (so called “covered transaction”)
  • Removal of an audit threat (minimize rigorous of audit) and resolving long drawn and time consuming litigation
  • Substantial reduction of compliance costs over the term of the APA; and
  • For tax authorities, an APA reduces cost of administration

Consequently, APAs provides a win-win situation for all the stakeholders involved.
 
     
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