Taxation

Individuals:

Individuals with high cash flows are subject to tax default based on inefficient planning and strategy, resulting in higher-paying taxes. Their multiple sources of income render it more complex for them to strategize against higher tax rates. Although liaison, correspondence, and compliance with employer or organization play a vital role in such situations who as an additional benefit also file returns on behalf of their employees, higher taxes are paid due to ineffective or no linkage between the two. Moreover, having no or less knowledge of current tax policies, concessions, and exemptions, individuals conventionally file their returns, causing substantial tax losses. We at LEGO VAULT assist in planning and claiming tax benefits for individuals to avoid paying higher taxes based on experience and day to day acquaintance of current tax policies and circulars to help reduce the risk of default for high net-worth individuals and to assist organizations in fulfilling their assumed responsibilities, and we provide services, which include:

· Liaison, correspondence, and compliance services for personal taxation.

· Advisory services to help reduce tax exposure or increase tax savings.

· Tax planning and benefits for nationals.

· Tax planning and benefits for Immigrants.

· Tax planning and benefits for overseas residents.

· Record Keeping/ maintenance

INDIRECT TAXES:

Pakistan’s tax regime consists of four primary revenue sources, including General Sales Tax (GST), Sales Tax on Services (Service Tax), Federal Excise Duty (FED), Customs Duty, and Income Tax. Over the recent years, the Government has emphasized Indirect Taxes, including Sales Taxes of Goods and Services. All manufacturers, Traders, and Services provider business entities are paying substantial indirect taxes on products, items, and services, respectively. Business entities thus require adequate planning and strategy to hit the lowest tax rates to enjoy tax benefits. We at LEGO VAULT provide a wide range of indirect tax advisory services that include sales tax system evaluation, sales tax audit, and sales tax on services under provincial ordinances and have but are not limited to:

· Compliance and correspondence services relating to corporate taxation

· Filling of Tax returns

· Tax benefits

· Planning and Strategy

· Claiming of Refund and disbursal

· Record Keeping/ maintaining

· Advisory services include determination of sales tax, exemption, and withholding tax matters

· Representations before field tax authorities

· Representations before Federal Board of Revenue

· Representations before Courts in appeals

CORPORATE TAXATION:

The corporate sector has to pay Taxes at a high level due to inadequate knowledge of recent tax circulars and policies, which is time-consuming and hectic and a complex task to maintain in the more significant business interest. The majority of businesses hire employees for the purpose, but due to a lack of legal tax practice, employees can only appease the tax burden of business at meager rates. Another essential factor causing tax loss to the company is filing returns in a conventional manner where inflows and outflows are not maintained as required to benefit the company. Significantly another issue is regarding business-to-business correspondences and liaison, which is also time-consuming and cumbersome yet causes businesses to pay huge taxes at levels that can easily waive, resulting in significant economic benefit. We at Lego Vault provide a full range of services to all business sectors leading to substantial financial benefit. Services include