Assurance
IRA CONSULTANTS has the knowledge and experience necessary to help you with complex financial accounting issues. We audit many of the best-known companies and other organizations both large and small. Our audit approach, at the leading edge of best practice, is tailored to suit the size and nature of your organization and draws upon our extensive industry knowledge.
Our Assurance & regulatory reporting services
We provide innovative high-quality, and cost-effective services relating to organizations’ financial control, regulatory reporting, shareholder value, and technology needs.
- Financial statements audit
- IFRS reporting
- Regulatory compliance and reporting
- Sarbanes-Oxley compliance
- Corporate reporting improvement
The Direct Tax practice assists companies in planning and optimizing their fiscal obligations, while being compliant with relevant domestic and foreign regulations. Whether you are contemplating restructuring of your business or coming to terms with frequent changes in tax regulations, our national network of experienced tax professionals can help you make sense of today’s world and provide you with insight into how to best work with the taxman to meet your business needs.
OUR DIRECT TAX SERVICES ARE
a) Corporate Tax
b) Corporate and International Tax Structuring
c) Tax Operations Advisory Services
d) Corporate Tax Compliance and Outsourcing
e) Tax Valuation Services
f) Tax Accounting Services
g) Regulatory
h) Personal Taxation
a) Corporate Tax
We help multinational businesses achieve their business goals in a tax-efficient manner, both locally and globally. Understanding the tax impact on business operations and transactions in multiple jurisdictions is vital for a company’s survival. We provide tax consulting, advisory and cross-border restructuring support services from conceptualization of the tax strategy through analysis of tax and regulatory implications of transactions and finally implementation assistance, from the perspectives of domestic law and the international tax treaty network. With the increasing focus on governance and regulation, tax compliance has never been so important. Compliance failure represents not only a financial risk — financial penalties and possible increase in the tax charge, but also a serious business risk, as it can damage the taxpayer’s reputation with the authorities and the public. To remain competitive, companies are increasingly focusing on their core competencies and activities that create value for the company.
- Implementation support to put the structure in place having regard to tax efficiencies, regulatory procedures and intended timeframes
-> Tax Compliance
- Tax return preparation
- Representation services before the tax authorities including assistance in tax audits by the tax authorities
- Assistance in appeal proceedings and tax litigation support
- Tax withholding advisory
- Review of tax status and evaluation of tax exposures
- Approval of retirement benefit funds from taxation authorities and other related matters thereto.
-> Due Diligence
- Audit of special purpose accounts with a tax perspective
- Ascertaining the tax liabilities (if any) that affect the financial performance of the entity, once the investment or disinvestment has been concluded
b) Corporate and International Tax Structuring
Multinational businesses are increasingly affected by tax, legislative and regulatory developments throughout the world. Understanding the impact of these developments on business operations and transactions between countries is vital for a company’s success. We have experience in addressing these developments as well as all aspects of international taxation with the help of our network firms. Our teams are able to help you structure your business in a tax-efficient manner, both locally and globally.
c) Tax Operations Advisory Services
Tax Operations Advisory Services provide the thought leadership, knowledge, and process methodologies needed to enhance the value of corporate tax function.
How IRA CONSULTANTS can help
- Produce a tax strategy that is aligned with company’s business strategy.
- Design tax savings measurement for our clients.
- Increase company’s return on investment from the tax function.
- Develop manual and / or automated tax processes that reduce costs.
d) Corporate Tax Compliance and Outsourcing
Managing tax compliance has become an increasingly complex issue with constantly changing assurance, regulatory and tax compliance requirements. These have led to a trend for companies to rethink how they meet their obligations to file timely and accurate tax returns. IRA CONSULTANTS can take care of your corporate tax compliance work allowing you to focus on your core business. We prepare tax returns and computations quickly and accurately and streamline the collection of data.
Potential issues
- You don't have, or want to free up, an in-house tax resource
- You are concerned by escalating or uncertain costs
- You need to reduce errors through data collection and processing
- You want to control your tax compliance issues, risks and opportunities
- Share schemes and other forms of employee incentive programs need to be valued in accordance with specific legislation and regulations.
- Complex assets such as goodwill, know-how and other intangibles have to be valued for tax purposes.
- Unlisted businesses face specific challenge when negotiating and agreeing values with the tax authorities.
f) Tax Accounting Services
As a result of increasingly challenging financial reporting environment, which has been caused by complex accounting standards and the demand for greater transparency, it is proving even more difficult to prepare complete tax accounting calculations in accordance with the requirements and expectations of the regulators and financial markets. We can offer a comprehensive approach to help our client address these pressures and gain comfort that their tax reporting obligations have been met.
How IRA CONSULTANTS can help
Tax provisioning and reporting
Assistance in the preparation or review of IFRS and / or local tax accounting obligations.
Tax accounting consulting
Technical tax accounting knowledge applied to transactions and other business issues.
Tax accounting technology
Assistance in the selection, implementation and use of tax accounting systems.
g) Regulatory
The Pakistan economy is one of the fastest growing in the world. Its burgeoning consumer class provides businesses with a huge market. Pakistan can also be an ideal launch-pad for the Asian market as well. Investors in Pakistan have to set up and manage their businesses to benefit from this opportunity while complying with the gamut of local laws and regulations impacting their investments. IRA CONSULTANTS partners with organizations/corporations in seamlessly navigating.
How IRA CONSULTANTS can help
-> CONSULTING
- Identifying and advising on the tax planning opportunities available to minimize the tax burden based on the prevalent acceptable practices
- Drafting and reviewing of employment agreements
-> COMPLIANCE
- Obtaining National Tax Number (NTN)
- Computation of tax liability to be withheld from monthly salaries, preparation and filing of monthly/annual statements
- Filing of tax returns, certificates etc
Expatriate taxation is one of the complicated areas of personal taxation. Keeping in view the special requirements for taxation matters relating to expatriates, we provide additional services as follows:
- Entry and exit briefing and assistance in compliance matters
- Tax equalization workings
1) INDIRECT TAXATION
IRA CONSULTANTS 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.
- 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
2) INDIRECT TAXATION
The explosive growth in world trade in recent years, and the resulting increase in cross-border transactions between related parties, has catapulted transfer pricing to the forefront of important international tax issues. MNCs of all sizes are finding their