Taxation

Taxation represents an essential component of contemporary business endeavors. At ACE, we support businesses in creating effective strategies to optimize taxes, implement innovative tax planning, and ensure compliance with regulations. While ensuring that our team delivers the highest standard of professional services in taxation, we have implemented robust quality control and ethical compliance mechanisms. These measures ensure adherence to the highest standards of integrity and the ethical guidelines set by our professional and regulatory bodies.
At ACE, our team draws on their extensive professional experience to provide exceptional taxation services. Guided by our core values of delivering outstanding client value and maintaining the highest level of professionalism, we offer a range of services within our Taxation Service Line. Our deep understanding of the unique challenges and opportunities across various industries and business sizes informs our approach.

Personal Taxation
Indirect Taxation
Corporate Taxation

Personal Taxation

Recent initiatives by tax authorities to broaden the national tax base have led to a more complex and burdensome tax compliance environment for individuals and small business owners. While larger corporations typically have the resources and technical expertise to manage these complexities, individuals and small businesses often struggle with the frequently changing tax landscape. At ACE, we offer the following services to help these clients effectively manage their financial and tax affairs:

Obtaining NTN (National Tax Number)
Filling of tax returns and certificates
Identifying and providing guidance on tax planning opportunities to minimize the tax burden, utilizing current best practices.
Offering representation on services before tax authorities, including support during tax audits.
Assistance with appeal proceedings and support for tax litigation.

Indirect Taxation

Business operations in Pakistan are influenced by various multi-point indirect taxes, including Sales Tax on Goods and Services, Federal Excise Duty (FED), and Customs Duty. The Indirect Tax Team at ACE assists businesses in strategically managing their indirect tax liabilities to support their business objectives. At ACE, we provide the following services to our clients:

Securing registrations with Federal and Provincial Sales Tax authorities
Guidance on the applicability of tax to transactions and eligibility for exemptions
Identification and support in implementing tax planning opportunities
Compliance support, including the preparation and submission of tax returns to the relevant authorities
Centralized coordination for tax payments, return filings, and document compilation
Guidance on customs duty implications and applicability

All our services in the Indirect Taxation Practice are supported by litigation assistance at every appellate stage.

Corporate Taxation

In response to the heightened regulatory emphasis on tax governance and the expansion of the tax base, tax compliance has emerged as a pressing business imperative. A comprehensive understanding of the tax ramifications associated with business operations is pivotal for strategic success in the contemporary economic environment. At ACE, our tax team collaborates with clients to achieve their business objectives by implementing innovative tax planning strategies and ensuring efficient compliance with regulatory requirements. We provide a range of tax services tailored to our corporate clients.

Tax Accounting Services
Tax Due Diligence
Tax Advisory
Corporate tax compliance outsourcing
Tax Function advisory

Tax Accounting Services
In response to the growing complexity of reporting requirements under IFRS and the need to calculate tax exposures according to local tax laws, corporations often maintain dual accounting records. Our team assists clients in effectively managing these dual approaches, ensuring compliance with expectations and regulations set by entities such as SECP, listing regulators, and tax authorities. We provide a range of services tailored to meet these requirements.

We provide consulting services that apply tax accounting knowledge to various business transactions and issues.
We provide support for preparing or reviewing IFRS and/or local tax accounting obligations.

Tax Due Diligence
Tax due diligence is a critical step in mergers and acquisitions (M&As). Relevant documents are gathered, management interviews provide insights, and quantitative analysis evaluates tax liabilities and optimization opportunities. Effective tax due diligence benefits both buyers and sellers during M&A transactions.

After an investment or disinvestment has been completed, the process involves identifying any tax liabilities that impact the financial performance of the entity.
Audit of a special purpose account(s) with a tax purpose.

Tax Advisory
A professional guidance provided by experts (such as tax consultants or accountants) to individuals or businesses regarding their tax-related matters. At Ace, the advice covers the following

Representation services before tax authorities, including support during tax audits by these authorities.
Perpetration of Tax Returns
Withholding tax advisory
Assistance in appeal proceedings and tax litigation support
Obtaining approval for retirement benefit funds from tax authorities and addressing related issues.
Evaluation of tax exposures
Review of tax status

Corporate Tax Compliance Outsourcing
In today’s rapidly evolving tax regulatory landscape, tax compliance has become increasingly labor-intensive and complex. Consequently, many companies are finding it more cost-effective to fully outsource their tax compliance functions. At ACE, we enhance our clients’ business processes by offering the following services

High quality technical support
Permitting you to reallocate in-house tax resources to more efficient business applications
Eliminating your concerns over uncertain or escalating costs
Helping you to manage your tax compliance, issues, risks and opportunities

Tax Function Advisory
Corporate companies invest significant resources in establishing and maintaining their tax functions. At ACE, we assist our clients in maximizing the value of their corporate tax functions by offering the following services:

Enhance the company’s return on investment in the tax function
Development of both the manual and automated tax processes and functions

Formulating a tax strategy that incorporates tax-saving measures and aligns with the overall corporate strategy.