The United Arab Emirates operates a straightforward tax system with no federal income tax but imposes VAT and certain corporate taxes in specific sectors and free zones. The Federal Decree-Law No. (8) of 2017 on Value Added Tax governs VAT obligations, while industries like oil and banking may face additional corporate taxes. GASP Global supports businesses in the UAE by facilitating VAT registration, ensuring compliance with Federal Tax Authority regulations, and providing expert advisory services. Our tailored solutions help businesses navigate local tax requirements effectively, manage financial obligations, and optimize operational efficiencies in a dynamic economic environment.
Tax Services in Pakistan
- Sales Tax Returns: The Federal Board of Revenue (FBR) receives Monthly or Quarterly Sales Tax Returns (STR/QTR), which are used to report taxable sales, purchases, input tax, and output tax.
- Income Tax Returns: Individuals, corporations, and other entities file annual income tax returns (Form ITR) with the FBR, which reveal the income received, the claimed deductions, and the tax liability.
- Additional Filings: Throughout the year, taxpayers whose income is not subject to withholding make estimated tax payments. To report taxes withheld from employee pay and salaries, employers file Withholding Tax Returns.
- Compliance and Reporting: Taxpayers are required to abide by any notices, assessments, or questions sent by the FBR and to submit any further documents or information that may be needed.
FINANCIAL AUDIT
To ensure accuracy and dependability in financial reporting, financial statement audits are essential for companies operating in Pakistan. At Gaspglobal.com, we recognize how crucial precise audits are to upholding regulatory compliance and investor confidence. Using the newest techniques and technology, our team of professionals specializes in performing thorough Financial Statement Audits to deliver in-depth insights into your financial health. We assist Pakistani companies in navigating challenging financial environments with our specialised approach, making sure that their financial statements fairly depict their operating reality.
INTERNAL AUDIT
For companies in Pakistan, Internal Auditing plays a vital role in ensuring operational effectiveness and financial stability. It entails improving corporate governance, concentrating on risk management, and reviewing and assessing an organization's internal controls. Internal Auditors assist in identifying possible risks and inefficiencies by offering an unbiased examination, guaranteeing adherence to regional laws and standards. An organization's success in Pakistan can be greatly influenced by having a good internal audit department, as it fosters credibility, trust, and long-term sustainability in a nation where economic and political issues are common.
COMPLIANCE AUDIT
A Compliance Audit is more than just a tick off a list in Pakistan's busy marketplaces. It looks deeply into the workings of an organization to make sure that all policies and procedures are strictly adhered to. This procedure aims to establish a foundation of dependability and trust rather than just avoiding fines or penalties. A company's reputation can be enhanced by a successful compliance audit, which demonstrates its dedication to moral business conduct and operational excellence. This is not just a standard process for Pakistani companies, but also an essential step in achieving sustainability and long-term success.
Core Values for Taxation
- Comprehensive Understanding: Our team has extensive knowledge of UAE tax laws and regulations, ensuring accurate and compliant tax services tailored to the UAE tax environment.
- Accuracy and Timeliness: We prioritize accuracy and timeliness in all our services, ensuring compliance with FTA requirements to avoid penalties.
- Client-Centric Focus: Your satisfaction is paramount. We are dedicated to delivering exceptional service and proactive tax planning, ensuring your long-term tax efficiency and business success.
Approach to Excellence
- Efficient Registration Process: We specialize in facilitating registrations with key tax bodies in Pakistan, including the Federal Board of Revenue (FBR), Punjab Revenue Authority (PRA), Sindh Revenue Board (SRB), and Khyber Pakhtunkhwa Revenue Authority (KPRA). Our streamlined process ensures quick and hassle-free registration, allowing businesses to operate legally and comply with tax laws without delays.
- Expert Guidance on Tax Regulations: With our deep understanding of federal and provincial tax laws, we provide expert guidance on compliance requirements set by the FBR, PRA, SRB, and KPRA. We keep businesses informed about the latest regulations and help them navigate complex tax structures to ensure full compliance and avoid potential penalties.
- Comprehensive Tax Return Services: We offer comprehensive services for the preparation and submission of monthly, quarterly, and annual returns to all major tax boards in Pakistan. Whether it’s sales tax returns or income tax returns, our experienced team ensures accurate and timely filings, reducing the risk of non-compliance and associated penalties.
- Specialized Filings Management: In addition to standard tax returns, we handle specialized filings such as advance tax statements, withholding tax statements, sales tax withheld statements, and income tax withheld statements. Our meticulous approach ensures that all required filings are completed correctly and submitted on schedule to the relevant tax authorities.
Comprehensive Understanding of UAE Tax Laws:
Our team consists of experienced tax professionals with an in-depth understanding of UAE
tax laws and regulations, ensuring that we provide accurate and compliant tax services
tailored to the UAE tax environment.
Accurate and Timely Compliance:
We prioritize accuracy and timeliness in all our tax services, ensuring compliance
with the Federal Tax Authority (FTA) requirements to avoid penalties
and maintain good standing.
Tailored Tax Solutions:
Recognizing that every taxpayer’s situation is unique, we customize our services
to meet your specific needs, providing personalized tax solutions that
address your individual or business tax requirements.
Client-Centric Service:
Your satisfaction is our highest priority. We are dedicated to delivering exceptional
service and exceeding your expectations, ensuring that you receive the support you
need to achieve your tax compliance goals.
Proactive Tax Planning and Advisory:
- In addition to compliance services, we offer proactive tax planning and advisory to help you optimize your tax position, minimize tax liabilities, and make informed financial decisions that drive business success.