Taxation Services

    Wide-ranging taxation solutions offered across the country.

    With expertise in tax planning, compliance, and advisory, CBMC ensures clients navigate the intricacies of each jurisdiction seamlessly, optimising their financial positions.

    Taxes & Deductions

    Our team of seasoned professionals is dedicated to providing tailored solutions that meet the unique needs of each client. We stay abreast of the latest tax laws and regulations to ensure compliance and maximise benefits. CBMC’s comprehensive approach includes strategic planning and proactive advice to help clients achieve their financial goals.

    Leveraging advanced technology and industry insights, we deliver efficient and effective tax services across multiple regions.

    Pakistan tax Services

    At CBMC, we simplify the complexities of Pakistan’s tax system for individuals and businesses. Our experienced team offers expert guidance on income tax, sales tax, and corporate tax, ensuring compliance with the latest regulations. We help you optimize your tax strategy, minimize liabilities, and achieve your financial goals. From tax planning and return preparation to dealing with the Federal Board of Revenue (FBR), our personalized solutions support your success in Pakistan.

    Personal Tax 

    Income Tax Returns 

    • Avoid penalties and ensure compliance with FBR regulations.
    • Preparation and submission of annual income tax returns
    • Minimize your tax liability through strategic planning.
    • Identify eligible deductions and exemptions.
    • Guidance on investment strategies for tax efficiency.
    • Calculation and filing of tax for salaried individuals.
    • Advice on tax implications of allowances and benefits.
    • Tax computation and filing for sole proprietors and self-employed individuals.
    • Maintenance of proper records for tax purposes.
    • Tax calculation and filing for rental income.
    • Advice on deductions related to rental properties.

    Wealth Tax & Statements 

    • Accurate compilation of assets and liabilities.
    • Reconciliation of wealth statements with income tax returns.
    • Guidance on tax implications of gifts and inheritance.
    • Compliance with relevant tax laws.

    Tax Advisory & Consultation 

    • Tailored solutions to your specific tax situation.
    • Expert guidance on complex tax matters.
    • Representation and assistance during FBR audits.
    • Response to FBR notices and queries.
    • Support in resolving tax disputes and appeals.
    • Guidance through the appeals process.
    • Keeping you informed of the latest tax law changes.
    • Ensuring ongoing compliance with evolving regulations.

    Specialized Services  

    • Guidance on Pakistani tax obligations for NRIs.
    • Advice on international tax treaties.
    • Specialized advice for individuals with agricultural income.
    • Compliance with agricultural income tax regulations.
    • Calculation and filing of tax on capital gains from investments.
    • Advice on minimizing capital gains tax.

    Corporate Tax 

    Core Tax Compliance 

    • Preparation and filing of annual income tax returns.
    • Calculation of tax liabilities for all business structures.
    • Monthly sales tax return preparation and submission.
    • Sales tax registration and compliance.
    • Calculation and deduction of applicable withholding taxes.
    • Preparation of withholding tax statements.
    • Ensuring compliance with FBR withholding regulations.

    Specialized Tax Services 

    • Assistance with company registration and tax identification.
    • Guidance on corporate regulatory compliance.
    • Representation in tax litigation cases.
    • Assistance with tax appeals and dispute resolution.
    • Calculation and management of employee tax deductions.
    • Compliance with payroll tax regulations.
    • Guidance on import and export tax regulations.
    • Compliance with custom and excise duty requirements.

    Tax Planning & Optimization 

    • Tailored tax planning to align with your business goals.
    • Identifying opportunities for tax minimization.
    • Advising on optimal business structures for tax efficiency.
    • Guidance on restructuring for tax benefits.
    • Analyzing the tax consequences of mergers, acquisitions, and expansions.
    • Providing insights for informed decision-making.
    • Identifying and leveraging applicable tax credits and exemptions.
    • Maximizing benefits from government tax policies.
    • Advising on cross-border tax implications and treaties.
    • Optimizing international tax structures.
    • Ensuring compliance with transfer pricing regulations.
    • Developing transfer pricing documentation.
    • Providing specialized tax advice tailored to specific industries.
    • Addressing unique tax challenges within your sector.

    Compliance & Risk Management  

    • Ensuring adherence to all corporate tax laws and regulations.
    • Staying up-to-date with evolving FBR requirements.
    • Identifying potential tax risks and vulnerabilities.
    • Developing strategies to mitigate tax liabilities.
    • Conducting comprehensive tax due diligence for transactions.
    • Identifying and assessing potential tax risks.

    Comprehensive  GST Services

    • Assistance with new GST/Sales Tax registrations.
    • Guidance on documentation and procedural requirements.
    • Accurate preparation and timely submission of monthly returns.
    • Ensuring compliance with FBR deadlines.
    • Advice on maintaining proper records for GST/Sales Tax purposes.
    • Ensuring compliance with FBR record-keeping requirements.
    • Representation during FBR GST/Sales Tax audits.
    • Assistance in responding to FBR assessments and notices.
    • Identifying opportunities to minimize GST/Sales Tax liabilities.
    • Advice on tax-efficient business transactions.
    • Analyzing the GST/Sales Tax impact of sales, purchases, and imports/exports.
    • Providing guidance on complex GST/Sales Tax scenarios.
    • Identifying and applying applicable GST/Sales Tax exemptions.
    • Guidance on zero-rated supplies and related procedures.
    • Assistance with GST/Sales Tax appeals and dispute resolution.
    • Representation in tax tribunals and courts.
    • Tailored GST/Sales Tax advice for specific industries (e.g., manufacturing, retail, services).
    • Addressing unique GST/Sales Tax challenges within your sector.

    Construction Industry tax Services

    • Builders and developers are subject to specific income tax regimes.
    • The Federal Board of Revenue (FBR) has established minimum profit rates for builders and developers.
    • Taxable profits are set at fixed percentages of gross receipts, varying based on the type of construction activity (e.g., residential, commercial).
    • There are also rules regarding tax on income derived by non-resident persons/their affiliates from turnkey contracts.
    • SME’s within the construction industry also have differing tax rates, depending on their annual turnover.
    • Provincial Revenue Authorities (PRAs) and the Federal Board of Revenue (FBR) levy sales tax on services.
    • Construction services are generally subject to sales tax, with certain exemptions.
    • The “Islamabad Capital Territory (Tax on Services) Ordinance, 2001” provides a framework for sales tax on services within the capital territory, including construction services.
    • Variations exist in sales tax rates and regulations across different provinces.
    • Withholding tax is applicable on payments made to contractors and subcontractors.
    • The rates of withholding tax can vary depending on the nature of the contract and the status of the contractor.
    • There are also withholding tax rules concerning non-resident persons, who are conducting buisness within Pakistan.
    • The FBR plays a central role in regulating and enforcing tax laws related to the construction industry.
    • It’s crucial to stay updated on FBR notifications and circulars, as tax regulations can change.
    • The FBR has been updating tax laws concerning the construction sector, particularly in the 2024 finance act.
    • Specific tax regimes apply to SMEs operating in the construction sector.
    • Tax rates can vary based on the SME’s annual turnover.
    • There are differing tax rates for those SMEs that are within the manufacturing sector, versus those that are not.
    • Sales tax on goods applies to the purchase of construction materials.
    • Proper record-keeping of material purchases is essential for input tax adjustments.
    • Understanding the distinction between taxable and exempt materials is crucial.
    • The import of construction materials may be subject to customs duties and other import taxes.
    • Effective tax planning can help construction companies minimize their tax liabilities.
    • Maintaining accurate and up-to-date financial records is essential for compliance.
    • Seeking professional tax advice is highly recommended.
    • Understanding the rules surrounding advanced tax payments is essential.
    • Proper understanding of tax credit rules is also important.
    • SME’s within the construction industry, need to be acutely aware of the turnover tax rates.
    • There are differing tax rates for SME’s that are within the manufacturing sector, and those that are not.
    • The FBR has differing classifications for what constitutes an SME.
    • SME’s involved in export, have their own set of tax rules.

    Non-Regular  Tax Services

    • This involves calculating and reporting taxes on profits from the sale of capital assets (e.g., property, securities).
    • Services include:
      • Determining the taxable gain.
      • Applying the correct CGT rates.
      • Navigating exemptions and allowances.
      • Assistance with the tax filing of the capital gains.
    • M&A transactions have complex tax implications.
    • Services include:
      • Due diligence to assess tax liabilities.
      • Structuring the transaction to minimize tax.
      • Advising on tax implications of asset transfers.
      • Tax planning concerning the amalgamations of companies.
    • Provincial Jurisdiction:
      • Property taxes are primarily levied and collected by provincial excise and taxation departments.
      • This means that the rules, rates, and regulations can vary significantly from province to province (Punjab, Sindh, Khyber Pakhtunkhwa, and Balochistan).
    • Basis of Taxation:
      • Generally, property tax is levied on the “annual rental value” of a property, whether it’s residential or commercial.
      • This doesn’t necessarily mean the property has to be rented out; rather, it’s an assessed value of the potential rental income.
    • Types of Property Taxes:
      • Urban Immovable Property Tax:
        • This is the core property tax, levied on buildings and lands within urban areas.
      • Capital Gains Tax (CGT):
        • This tax is applied to the profit earned from the sale of immovable property.
      • Capital Value Tax (CVT):
        • This is a tax charged on the transfer of immovable properties.
      • Withholding Tax (WHT):
        • This is an advance income tax, that is collected during property transactions.
    • Variations and Exemptions:
      • Each province has its own set of rules regarding exemptions, rebates, and surcharges.
      • Common exemptions may include properties owned by the government, religious institutions, and certain categories of individuals (e.g., widows, disabled persons).
      • There are also changes within the 2024-2025 budget, that are altering the way that property tax is handled.
    • Recent Developments:
      • The 2024-2025 fiscal budget has brought changes to property tax laws, with a focus on increasing transparency and revenue.
      • There are changes to the capital gains tax, and also to the way that advanced witholding tax is handled.
      • There is also an increased focus on the distinction between filers and non-filers, with non-filers often facing higher tax rates.
    • Specialized tax advice for non-domiciled individuals.
    • Guidance on the remittance and arising basis of taxation.
    • Planning for tax-efficient residency.
    • Guidance regarding tax implications of large one off payments.
    • Advice regarding taxes on winning from gambling, or competitions.
    • Beyond SDLT, advice regarding tax implications of selling property that is not a primary residence
    • Assistance with HMRC inquiries and investigations related to non-regular tax matters.
    • Representation during HMRC audits.
    • Advice on responding to HMRC correspondence.
    • This involves representing taxpayers in disputes with the Federal Board of Revenue (FBR) or Provincial Revenue Authorities (PRAs).
    • Services include:
      • Preparing and filing appeals.
      • Representing clients in tax tribunals and courts.
      • Negotiating settlements with tax authorities.
      • Assistance with the resolving of tax audits.
    • This involves dealing with taxes related to international trade.
    • Services include:
      • Determining applicable customs duties and tariffs.
      • Advising on import/export regulations.
      • Assisting with customs clearance procedures.
      • Valuation of imported goods, for tax purposes.
    • This includes planning for the tax implications of transferring assets upon death.
    • Services Include:
      • Advising on inheritance tax laws.
      • Structuring asset ownership to minimize tax liabilities.
      • Assistance with the tax implications of wealth transfer.

    Maximise your savings and ensure compliance with CBMC’s expert tax services tailored for businesses and individuals.