MEK CONSULTANCY

About Tax
Our firm provides various services in relation to income tax for both individuals and companies, services include:

Tax Planning

Filling of Income Tax Returns

Tax Refunds

Our Experts help you with Tax all over the globe.
At MEK, Our team members are highly reputable professionals in taxation services sector. The team involved has
extensive experience in handling:

Tax Advisory

Tax Practitioner

Tax Investigation

Other Taxation Services

Pakistan Taxation System

The Central Board of Revenue (CBR) was created on April 01, 1924 through enactment of the Central Board of
Revenue Act, 1924. In 1944, a full-fledged Revenue Division was created under the Ministry of Finance. After
independence, this arrangement continued up to 31st August 1960 when on the recommendations of the
Administrative Re-organization Committee, FBR was made an attached department of the Ministry of Finance. In
1974, further changes were made to streamline the organization and its functions. Consequently, the post of
Chairman FBR was created with the status of ex-officio Additional Secretary and Secretary Finance was relieved of
his duties as ex-officio Chairman of the FBR.
In order to remove impediments in the exercise of administrative powers of a Secretary to the Government and
effective formulation and implementation of fiscal policy measures, the status of FBR as a Revenue Division was
restored under the Ministry of Finance on October 22, 1991. However, the Revenue Division was abolished in
January 1995, and FBR reverted back to the pre-1991 position. The Revenue Division continues to exist since from
December 01, 1998.

By the enactment of FBR Act 2007 in July 2007 the Central Board of Revenue has now become Federal Board
of Revenue.
There are Variety of taxes that our team can assist you with:

Sales Tax (GST)

Income Tax (Corporate and Individual)

Federal Excise Tax

Customs

Tax Services in Pakistan and abroad

Tax Planning and Strategy Development

Tax Registration

Obtaining Confirmations, Clarifications and Permissions From the Tax Authorities

Conducting Tax Audits

Preparation and Filing Income Tax Returns

Preparation and Filing Various Tax Statements

Preparation and Payment of Electronic Challan

Finalization of Tax Audit and Undertaking Representations

Objections and Appeals

Services include obtaining Tax Exemptions for Clients in Pakistan

Approval as Non-Profit organization (NPO / NGO) under section 2(36) of the Income Tax Ordinance 2001.

Business exemption under clause 58 of the Second Schedule to the Income Tax Ordinance 2001.

Tax exemptions for educational institutions.

Other tax exemptions as applicable from client to client.

Tax Refunds

Tax Refunds are very important for our clients, therefore, we always give due diligence for claim of proper
tax credits and taking refunds from tax authorities.

TAX

Every day tax regulations, rules, and treaties change. Strategies that reduced taxes yesterday may not
work today. New opportunities to save money could be missed especially as you enter new markets.
Successful companies consider tax implications before they make business decisions, so they do not pay
more than their legal obligation. This makes tax compliance, consulting, and structuring a crucial element
in strategy. For tax-paying organizations that want to manage their tax obligation efficiently, MEK provides
a broad-ranging corporate tax advisory service.
Our relationship-based service focuses on delivering tailored solutions to individual business needs,
helping to build value and manage the impact of the tax take on your business. At MEK we can support
you in a number of ways from helping you to reduce overall tax take in your business, increasing business
efficiency, ensuring tax compliance to bench-marking effective tax rate against competitors.

Preparation and filing of Income tax, Sales Tax and Excise returns,

Follow up of taxation affairs,

Representation of clients for assessment / audit procedures and preparing,

Filing and proceeding for appeals.

Tribunal Hearings

d Links

Income Tax and Related Services

Our Team provides taxation services to very wide range of corporate and private clients and our services
include the following:

Preparation and filing of tax returns pertaining to income tax of corporate clients.

Preparation and filing of tax returns pertaining to income tax of individuals, association of
persons, trusts, registered firms and not for profit organizations.

Preparation and filing of wealth statements of individuals along with reconciliation and tax
planning.

Attending hearings and assisting clients in preparation of information and explanation for
submission to the tax authorities and dealing with matters leading up to finalization of
assessment.

Filing and dealing with appeals before the appropriate tax authorities

Advising clients on tax planning and on specific tax problems

Conducting tax audits to ensure the compliance of provisions of tax laws.

Appointed by Federal board of Revenue to conduct tax audits.

Obtaining tax exemption certificates.

Obtaining tax refunds.

Mergers and acquisitions.

Sales Tax (GST / VAT)

General Sales Tax (GST), which is a modified form of Value Added Tax (VAT). In Pakistan, since recent years, more
and more goods and services are being brought within the ambit of the GST regime and GST occupies a pivotal
place in the current regime of taxation. Rampant changes in the GST law and lack of knowledge on the part of tax
administrators and taxpayers have made it intricate and difficult.
Our tax professionals will not only keep you aware of developments that may affect your business, but also will help
you to interpret their significance and integrate a plan into your business strategy.
We are providing a full range of indirect tax services that include sales tax advisory services, sales tax system
evaluation and other ancillary matters.

We have experience in;

Applying for and obtaining GST registration.

Maintenance and preparing of GST Record/GST book keeping

Preparation and filing of Monthly GST Returns

Advises and pursuing in claim for adjustment of input and output taxes, following up GST exemption(s) and
GST audit

Registration, maintenance of record, and audit counseling for Duty & Tax Remission for Exporter (DTRE)

Representation on behalf of the clients before GST assessment authorities and appellate authorities on
contentious GST issues and dispute resolution

Correspondence with the Central Board of Revenue (CBR) for removing fiscal anomalies and obtaining
Ruling on obscure GST related issues

Reviews of existing systems and monitoring to highlight possible areas of exposure to sales tax
assessments and associated penalties

Developing detailed strategies to assist and reduce clients tax costs

International Tax
There is growing trend in Pakistan, especially the IT houses to expand their business abroad. Our Firm and its global
tax expertise lets you remain vigil of all the tax matters that will / may impact you and help you plan your business to
avoid unnecessary challenges. Contact our team wherever you are in the world to get the latest up to date taxation
advise on all matters.
Our membership of JHI allows us to send our teams on secondments around the world. Our team members embrace
the local countrys technical knowledge and have appropriate regional and global insight on the latest developments
in tax policies.

Transaction Tax
There are growing number of businesses in Pakistan who would like to export and likewise there is interest around
the world to sell goods in Pakistan. No matter if you are an importer or exporter, we assist you with any double
taxation treaties / reliefs that will ensure that the business does not pay double tax.
All businesses have transactions and it has tax implications, it can be a simple transaction between a buyer and a
seller or can be a complex transaction i.e. an acquisition, refinancing, merger or other. The proper understanding of
the tax impacts in necessary as otherwise this may result in penalties and fines by the FBR. It is not just FBR, say in
an acquisition of a company if tax is not given adequate attention then at the end you may realize that you have
bought a company with tax liability equal to your share capital. Our team ensures that this does not happen to you.
Our Transaction Tax department includes Chartered Accountant of Pakistan and England who will help you
avoid unnecessary taxation complications and help you focus on your business.
Our teams possess exceptional knowledge and know-how of the jurisdictional and multi-disciplinary tax issues that
are relevant to your business, around the world through our membership of JHI.

Our team ensures that when you enter into a transaction, all tax issues are accounted for in the most efficient and
effective manner.

Online Book Keeping

Our team has expertise in operating Online bookkeeping software, it is a method of bookkeeping that relies on a webbased application rather than desktop bookkeeping software or pencil and paper. Our Consultancy wing offers
outsourced online bookkeeping because online bookkeeping is affordable, it is popular with small and medium sized
business owners.
Other areas included online are inventory recording, inventory reporting, payroll etc.
There are many online software available. How our consultancy wing help you?

We do the bookkeeping for your organization

We make the Monthly Financial Statements

We offer graphical representation (Powerpoint Slides)

We offer security and confidentiality

Corporate Matters
Whether its formation of a new company or a merger of existing ones, whether its change of status of a company
from private to public and public to private or vise versa, preparation and filing of annual returns of companies,
change in any matter of Memorandum and Articles of Association, maintenance and preparation of statutory record
Our team assists you in all stages.
Our team offers the following services in this regard:

Incorporation / formation of companies

Increase in share capital

Issuance of shares of non-listed companies

Preparation of search report

Alteration of Memorandum of Association and Article of Association

Preparation of agenda, minutes and resolutions for meetings of shareholders and board of directors

Preparation of statutory books and records as per requirements of corporate laws

Filing of requisite forms with Registrar Joint Stock Companies/Securities and Exchange Commission of
Pakistan

Recruitment Consultants

We provide recruitment services to our clients. These services involve carrying out interview on behalf of our clients
and finalizing candidates.
Our Firm provides a variety of recruitment services for professionals in Pakistan and around the world. Our wellknown clients represent a wide spectrum of industries like manufacturing, construction, engineering, information
technology, trading and distribution, shipping, travel and leisure, health, accounting and auditing, financial services,
transportation, call centers, business process outsourcing etc.
Our Recruitment Consultancy wing provides a great opportunity to develop a fulfilling career to those industries where
employees are recognized and rewarded for innovative ideas, focused minds, quality work and determination at all
levels of the organization.
Our Firm provides staffing solutions to the companies because a growing business environment and forces of
globalization are impacting the very nature of business operations, In order to take care of the needs of our esteemed
clients.
Our Firm provides a list of recommended candidates to our client. Our HR maintains a comprehensive list of up to
date database of candidates actively seeking for a job.
This service is also for experienced individuals to send us their CVs at careers@mek.com.pk. We match the right
person to the right organization.
Our Firm is also involved in international secondment opportunities for deserving candidates.
For more information contact us.