Taxation

CORPORATE TAX ADVISORY

Corporate taxation is an essential aspect of doing business in India and its importance cannot be undermined. The Indian government has gradually reduced corporate tax rates. The emphasis is now shifting towards enforcing compliance and expanding the tax base with e-governance and digitisation gaining importance. Taxation is also used as a tool to promote investments in identified industry sectors, thereby spurring overall economic growth. As such, understanding the impact of developments in tax and regulatory aspects and strategically using them to the benefit of Indian business activities is becoming increasingly important.

Organizing Challenges

• Learning the impact of the new Direct Taxes Code
• Establishing an Indian business presence if you are an MNC
• Setting up business in the country if you are an Indian entrepreneur
• Expanding into new business sectors
• Addressing concerns about cash flow and examining tax inefficiencies
• Ensuring that your tax function is aligned with your business plan
• Knowing the impact further tax and regulatory changes will have on your business

Our  network of experienced tax consultants can assist in resolving various challenges such as restructuring your business and keeping abreast with tax regulations, among many others. They will provide you with an insight into how to best work with the taxman to meet your business needs.

Our multi-disciplinary tax teams help you in corporate tax advisory and tax compliance.

TAX COMPLIANCE

As the complexities of businesses increase, the amount of time spent by professionals in cracking up the law codes increases. However, tax and regulatory systems of even the most developed countries cannot keep pace with the developments across each industry as businesses emerge day by day. These also bring out the requirements for new compliances and the challenges of meeting them every single day. The new Direct Taxes Code requires businesses to gear up their systems to align with enhanced agreements. Are you there?

Organization challenges

• Making payments (local or overseas) to a host of parties
• Addressing your concerns about effective compliance of withholding tax requirements
• Reporting of multilayered tax issues
• Answering tricky questions from taxmen, including treaty applicability
• Defending your stands before taxmen
• Curtailing a significant litigation history
• Defending a tax authority challenge
• Ensuring compliance with the listing agreement

Our services

We can assist you with the following:

• Advising on withholding tax obligations on payments
• Obtaining no-objection certificates
• Assisting in filing various tax returns
• Helping during tax audit by revenue authorities
• Providing corporate tax litigation assistance, including representation services
• Obtaining advance rulings
• Enhancing ERP systems to meet tax management requirements

Our team comprises of indirect tax professionals who  provide comprehensive advice and assistance on various indirect taxes such as customs duties, central excise and value-added tax, service tax, VAT (including works contract taxes and lease taxes). We also offer expert advice on all aspects of indirect taxation.

TAX CONTROVERSERY AND DISPUTE RESOLUTION

Tax litigation in India requires a comprehensive approach involving people with sound understanding of law and tactful handling at appellate fora. Figbird CONSULTANTS has a dedicated team of specialists to offer effective, practical solutions to clients focused on managing/resolving income tax disputes.

ORGANIZATIONAL CHALLENGE

• Identification of potential risk regarding various tax positions
• Ensuring tax positions are taken with strategic and long term view
• Litigation before the tax authorities, tribunals and courts
• Ensuring expert submissions and representation before appellate authorities
• Having the latest and last-minute legal update being covered in submission and representation before appellate authorities
• Proactively settling tax positions in advance by taking advance ruling
• Exploring alternative tax dispute resolution avenues for complex tax disputes
• Getting cross border tax disputes resolved through competent authority under mutual agreement procedure (MAP)
• Ensuring tax process is robust enough to handle long-term litigation

OUR SERVICES

We can advise and assist in the following:

• Drafting factual and legal submissions for income tax appeal before the appellate authorities
• Effectively complying with appellate requirements and procedures
• Preparing the case and representing it before the appellate authorities
• Exploring and using alternative tax dispute resolution avenues
• Preparing advance ruling application and representing before the Authority for Advance Rulings (AAR) for settling a tax position involving non-resident
• Drafting and presenting applications to the competent authority for MAP under tax treaties (DTAA).
• Reviewing pending litigation and other uncertain tax positions, to comment on adequacy of defence, probability of success and prevention of recurrence
• In-house service of the expert counsel with experience in representation before appellate authorities including tax tribunal
• Taking services of our  legal counsel in preparing or representing for appeals, writ petition and special leave petition before Indian Apex court (Supreme Court) and court subordinate to it (High Court)