OBJECTIVES

Tax planning and managing tax affairs are desired to be integrated with overall corporate strategy and risk management of an organization. Advance learning is considered mandatory for managing complex tax affairs of an organization in a professional way, because most of us think about taxes when it is too late to really do something about them. Now it is considered mandatory for a person dealing tax matters to have up-to-date knowledge and expertise in handling critical issues involved in federal & provincial sales tax on goods & services to effectively manage the tax affairs of an organization. Looking at the need of the time and ongoing rapid changes in Federal & Provincial sales tax laws (Punjab, Sindh, KP, Baluchistan & Islamabad), softax arranged a full day workshop on “Advance Taxation under Federal and Provincial Sales Tax Laws”. This day-long workshop aims at to provide a way forward to alleviate challenges assailing from issues involve in sales tax on goods and services. It will also develop requisite skills among the participants, within an interactive environment for maximum learning through discussion, in depth understanding of the updated knowledge of the Federal & Provincial Sales Tax Laws in Pakistan, Case studies, Apex Courts' decisions and other Internal & External Aids. At the end of the workshop participants will be able to handle complex issues involve in Federal & Provincial sales tax transactions including but not limited to chargeability, input adjustment, inhouse production, withholding, further & extra taxes, return, carry forward & refund, audit & adjudication etc.

CONTENTS

• What is planning and how to plan Sales Tax matters of an organization to avoid undue taxes
• Concept of taxability under Federal & Provincial Sales Tax Laws for effective tax planning of an organization
• Impact of different provisions of sales tax laws, Special procedures and additional taxes to calculate sales tax liability of different categories of registered person
• Principle of adjustment and denial of internationally accepted right of input tax in the eyes of legislature and courts
• Concept of withholding tax under Federal & Provincial Sales Tax Laws and how to deal with day to day withholding matters of an organization
• Which type of records are required to be maintained to deal with departmental notices?
• Preparation of Federal and Provincial Sales Tax Returns including concept of entries & reports of MIS, 7(a)(b)(c), AnnexF and other parts of return
• Legal provisions relevant to refund and carry forward
• How to avoid suspension, blacklisting and criminal proceeding under Federal Sales Tax Laws
• Techniques to handle Sales Tax Audit
• Impact of Sales Tax Laws on Income Tax and vice versa
• How to improve the compliance level of an organization