Value Added Tax (VAT)

Financial Services Guides and Information

 

ABOUT S U KAHN ASSOCIATES & MANAGEMENT CONSULTANTS

The professionals at S U Khan Associates & Management Consultants (the Firm) have vast and multi-faceted experience in rendering professional services to a wide range of clients. The professionals at the Firm have always been guided by core principles of following highest standards of professional ethics, client-focused approach, meeting the clients’ expectations and above all being solution-providers to the clients.

The Firms’ purpose is to turn knowledge into value for the benefit of its prestigious clients. The Firm aims to provide clients with a comprehensive set of multidisciplinary services based on profound industry knowledge.

Its team comprises of professional accountants & qualified auditors, lawyers, economists and business graduates – which collectively makes the Firm a perfect blend of professionals, where each professional is seasoned and bears professional experience ranging from over 12 to above 20 years. The professionals at Firm have served clients in varying economies like China, Indonesia, South Korea, Thailand, Malaysia, Hong Kong, Brazil etc.

 

The most relevant and unique experience and professional qualification of its team members is the Firms’ greatest strength. The professionals at Firm have more than 20 years’ experience in rendering all three tier taxation services. These include Advisory, Execution/Compliance and Litigation.

The Advisory services typically focuses on advising clients about the applicable provisions of the VAT law, its impact on the client, review of clients’ transactions to ascertain the VAT treatment, review and advise on contractual obligations and to draft or review of the VAT related clauses in the agreements with third parties. This also includes advising clients about keeping and maintenance of accounts and records as may be required under the VAT law. Diagnostic/ Health Check is a unique feature of advisory services wherein clients’ VAT filings and related accounting records are assessed and benchmarked with all the applicable requirements of the VAT law, with the aim to identify any departures and working out its related risk exposure and to suggest the appropriate mitigating factors. Another significant part of advisory services is to give professional opinions about VAT impact regarding complex multiparty business transactions including cross-border transactions.      

The Execution/Compliance part of the taxation services consists of assisting clients to fulfill the incumbent obligations under the VAT law that may include filing, working out of tax liability and to work out the recoverable tax, accounting/bookkeeping and maintenance of commercial records, refund processing, submission of reply to queries raised by the tax authorities and assistance during the tax audits conducted by the tax authorities and representing the clients before the tax authorities.

  

The Litigation part of the taxation services includes the preparation of necessary paperwork and documents while applying for administrative review, reconsideration motions and appeal hierarchy under the VAT law. This also includes assistance during alternate dispute resolution mechanism and representing the clients before the review/reconsideration forum and before the appellate authorities.

The professionals at the Firm have rendered these services for both the direct and indirect taxes including advisory pertaining to international taxation under the Agreements for the Avoidance of Double Taxation.

Besides VAT the Firm is offering services pertaining to Due Diligence, Auditing, Feasibility Studies, Financial Projections and related Financial Services, Management Consultancy, etc. 

The Partner of the Firm has actively participated in international events organized by international organizations (speaking / moderation / delivering presentations etc.). To name a few, these international organizations include United Nations Commission on International Trade Law (UNCITRAL), United Nations Conference on Trade and Development (UNCTAD), World Trade Organization, Organization of Islamic Conference and South Asian Association for Regional Cooperation, BRICS and SCO Business Council, World Economic Forum and United Nations Centre for Trade Facilitation and Electronic Business (UN/CEFACT) etc.

The professionals at the Firm have served to a wide range of industry & clientele including Iron & Steel, Chemical, Paper & Paperboard, Textile, Pharmaceutical, Petrochemical, Poultry, Cement, Tiles & Sanitary Ware, Packaging Film, Bicycles, Telecom, Power & Energy, Technology Companies, Public Sector Organizations, Educational Institutions and Not-for-Profit Organizations.

 

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