MCC helps businesses in formulating effective strategies for optimizing taxes, implementing innovative tax planning and effectively managing compliance. Detail of our tax consultancy services are as follows:
Income Tax Advisory:
In the dynamic business world, business organizations are facing fierce competition in the market industry to beat their competitors. Moreover, growing corporate entities have to meet the challenges of the global world. Therefore, they are implementing innovative tax strategies and planning to reduce the impact of tax incidence over the buyers & sellers and to maximize the profit for shareholders.
At MCC, we assist our clients in fiscal obligations through proper planning and optimization. Also, we help them in domestic and foreign regulations with the assurance of compliance. Further, our team of tax consultants and professionals give complete guideline to multiple business entities about tax regulations. Therefore, business entities will be able to meet their business goals.
Sales Tax Advisory
MCC helps its customers to deal with the fiscal challenges in the strategic management of indirect taxes. Tax professionals at MCC possess enough capabilities to provide comprehensive advice and assistance in all areas of indirect taxes.
Further, MCC provides help to business enterprises to keep track of their sales, purchases, inventories, input tax, output tax, and expenses. We provide tax compliance advisory services for Federal Sales Tax, Punjab Sales Tax on Services, Sindh Sales Tax on Services, Baluchistan Sales Tax on Services and Islamabad Capital Territory Tax. Hence, firms will be able to fulfill all legal requirements under the sales tax laws and regulations permanently.
Tax Registration, Filing, and Documentation
MCC always presents up-to-date solutions regarding tax legislation and regulation issues as per the policies announced by the government. Hence, organizations will be able to grab the latest and updated tax services to add value to their business. Moreover, MCC assists business entities to get registration with the tax departments for income tax (NTN), sales tax (STRN), and We BOC. MCC maintain statutory registers of their clients regularly. Not only this, but we also provide support for detailed filing process including the Income Tax Returns, Sales Tax Returns, and Withholding Statements. We also fulfill all requirements required by the FBR, SRB, PRA, KPRA and BRA for the registration of the
Tax Adjudications and Tax Refunds
MCC pays value to their clients. So, in case of adverse orders, we help clients in adjudications including filling & pleading cases at the Commissioner Appeals Level, Appellate Tribunal Level, Federal Tax Ombudsman, Alternate Dispute Resolution etc. Therefore, we keep track of all proceedings of our clients fort the management of legal notices. Also, we offer the service of tax refunds on behalf of the
Withholding Taxes Management
The undocumented economy of Pakistan has been a curse, resulting in low tax to GDP ratio. Consequently, the withholding tax regime has become vital in the taxation system of Pakistan. WHT is an act of deduction or collection of tax at source, through withholding tax agents, which has generally been in the nature of an advance tax payment. Majority tax is being collected through WHT Regime under direct taxes
Since 2007, Withholding Regime was extended for Indirect Taxes (Sales Tax) as well. Initially, Public Sector was made withholding Agent under Sales Tax Law which later was extended to Large Taxpayers. Recently, FBR has further extended the scope to all Companies which would have significant implications. The provinces are also collecting sales tax on services after the 18th amendment and Withholding Tax Regime is also replicated under the provincial sales tax laws as well. Tax Authorities, to meet revenue targets, have been putting special focus on monitoring of withholding taxes. For the last
few years withholding tax agents must face WHT audits almost every year. Therefore, WHT agents need to be more careful regarding their obligations for Withholding Taxes under Income tax law. Withholding Tax Agents must make certain compliance including e-filing of withholding tax statements. MCC helps its clients to fulfill its withholding tax obligations e.g withholding tax compliances and withholding tax audits etc.
Other Legal Services