Domestic and International Taxation

Domestic and International Taxation

In global environment, tax for organization has become more complex issue with tax incentives, globalization and the upcoming tax code, rules and regulation. We advise corporate to cross the hurdles of domestic and international tax operations, indirect taxation, compliance, reporting and also provide dispute resolution services for direct and indirect taxes. One of the biggest challenges –and greatest areas of opportunity – for a multinational company today is effectively managing local and foreign taxes in a way that aligns with its overall business objectives and operations.

We are the one stop shop for all Direct and Indirect Taxation related matters whether it is compliances or representation services related matters namely:

Corporate taxation

  1. Corporate Tax Return
  2. Tax Audit
  3. Withholding Tax – Retainership & Advisory
  4. Tax Consultancy and Advisory
  5. Opinions on various transactions from domestic law to tax treaty viewpoint
  6. Advising on tax planning opportunities
  7. Taxation relating Certifications – 15CB, etc.
  8. Conducting due diligence reviews and Health Check

Litigation

  1. Representation Services for Assessments before Income-tax officers
  2.  Appeal Proceedings before CIT(A) as well as Income Tax Appellate Tribunal
  3.  Assistance in appeal proceedings before High Courts and Supreme Courts (Preparation of case, Briefing Counsels)

High Net Worth Individuals

  1. Review of books of Accounts
  2. Tax AuditPreparation & Computation of Income & Taxes thereon
  3. Preparation & Submission of ITR
  4. Advisory on taxation matters

ICDS

Income Computation and Disclosure Standards (ICDS), introduced with effect from 1st April, 2015, constitute one of the significant amendments introduced in the Indian Income-tax legislation. ICDS are applicable for computation of income taxable as ‘Business income’ or ‘Other’ Sources income. These standards provide for some significant departure from Indian Accounting Standards and may lead to material tax implications for taxpayers. In this regard, we provide assistance in examining ICDS having regard to nature of business & transactions of the taxpayers and advising on relevant tax implications.

Transfer Pricing

Transfer Pricing law was introduced in India in 2001. It deals with curbing tax avoidance by laying down norms for computation of income arising from international transactions or specified domestic transactions (“SDTs”) having regard to the “arm’s length price”. Our Transfer Pricing services offer effective solutions to companies which undertake international transactions or specified domestic transactions with its associated enterprise or group companies which are as follows:

  1. Transfer Pricing Analysis
  2. Selection of the appropriate method
  3. Benchmarking Analysis
  4. Assistance in preparation of Transfer Pricing documentation
  5. Issuance of Transfer Pricing Certificate
  6. Representing Transfer Pricing Cases before Transfer Pricing Officer/ Appellate Authorities

Indirect Tax

Indirect taxes are levied by both the central and state governments. Each individual state has its own value added tax (VAT)law in addition to central laws. We have with us, professionals having in-depth knowledge and wide-ranging experience to help you in effective planning and structuring of your business to achieve fiscal efficiency and ensure compliance of the regulations. We recognise that indirect taxes are of strategic importance to your organisation since they can form a considerable part of your turnover.

How we can help:

We provide assistance under all the indirect taxes statutes as under-

    • Goods and Services Tax (GST) regulations

Apart from the above, the following regulations are also closely associated with the indirect tax authorities and regulations:

  1. Special Economic Zone (SEZ) regulations
  2. Software Technology Parks of India (STPI) regulations
  3. 100 % Export Oriented Units (EOU) regulations
  4. Foreign Trade Policy (FTP) regulations

Advisory services:

  • Formulating tax efficient business models
  • Undertaking comprehensive reviews of business operations
  • Structuring of contracts / transactions to optimise tax incidence
  • Advising on classification, valuation, applicability of taxes on transactions and admissibility to tax benefits / exemptions
  • Conducting tax impact assessment studies
  • Identification of fiscal optimizing opportunities

Compliance services:

  • Preparation of customised compliance manuals based on the recent developments in all indirect taxes on the statutory as well as the judicial front in the form of standard operating policy and procedures
  • Single point contact and centralised coordination for tax payments, filing of returns and compilation of documents
  • Indirect tax compliance support / outsourcing

Other value added services:

  • Cenvat / input tax credit review
  • Review of indirect taxes – special audits
  • Due diligence review
  • Litigation support and representations
  • Goods and Service Tax (GST) change management study and GST transition
 

At SASK, we provide the following services under International Taxation:

Transfer Pricing

Transfer Pricing law was introduced in India in 2001. It deals with curbing tax avoidance by laying down norms for computation of income arising from international transactions or specified domestic transactions (“SDTs”) having regard to the “arm’s length price”. Our Transfer Pricing services offer effective solutions to companies which undertake international transactions or specified domestic transactions with its associated enterprise or group companies which are as follows:

  1. Transfer Pricing Analysis
  2. Selection of the appropriate method
  3. Benchmarking Analysis
  4. Issuance of Transfer Pricing Certificate
  5. Representing Transfer Pricing Cases before Transfer Pricing Officer/ Appellate Authorities

Expat Services

Taxing for expatriate individuals can be a problem. It needs know-how’s and experience to ensure smooth transactions. The problem might begin with submitting the form but it does not end there. Tax clearance, tax reviews, offshore banking and investment, all this and more are involved. Tax compliance, however, is a must, but one also has to plan how to optimize tax liability or burden by restructuring the transactions and assets correctly. We with our experts take care of every detail with great focus on the following:

  1. Entry meeting with Expatriates
  2. FRRO registration
  3. Review of Agreement
  4. Preparation & Computation of Income & Taxes thereon
  5. Preparation & Submission of Income Tax Return
  6. Advisory on Taxation Matters
  7. Obtaining Income-tax Clearance from tax authorities

Double tax Avoidance

The Double Tax Avoidance Agreements (DTAA) are essentially bilateral agreements entered into between two countries, in our case, between India and another foreign state. We facilitate our client in DTAA Advisory to avoid double taxation based on the nature of Income and expenditure, in both the countries (i.e. Double taxation of same income) and withholding tax issues and other compliance.