____________________________________________________________
Tagged in tax problem? No tension, we will be beside you. We help prepare investors and business owner for all facets of income tax, Value added tax and customs tariff system of Bangladesh and any country. Solving problem with:
- Tax filing
- Making appeal with VAT appeal offices, appellate tribunals, honorable High court, Applet division of the Supreme Court of Bangladesh, etc.
____________________________________________________________
Improving VAT compliance, reducing cost of compliance and moving dynamically:
It is very difficult to keep efficiency in every facets of VAT reality and problems. Complying with VAT laws in every country needs scanning the changes in the VAT laws and provisions and adopting the change the ignorance of which may cut stiff penalty on your cost structure. Frequent penalties just out of ignorance may increase your product cost particularly in a market where the rivalry is intense.
Again paying VAT on turnover may face elements of double taxation just out of ignorance that may again pose VAT risks and increase the cost of doing your business and staying the market.
Maintaining an overview of tax legislation in different countries is difficult, especially when you are doing business internationally. The problems are often complex and the laws complicated. VAT risks of which a company is unaware can easily turn into a matter affecting its survival. For this reason, a company’s success depends on having an integrated VAT strategy closely adapted to its needs.
DW sets the standard when it comes to VAT consulting services. Our experienced teams can support you in all phases of your business cycle offering solutions that are optimally tailored to your business model:
____________________________________________________________
Keep track of your VAT systems:
The opportunities and risks associated with VAT ever changing VAT systems are considerable, and there is scope for optimization in nearly every area.
The challenges you face:
- Reviewing your VAT burden
- Ways to improve planning and control of risks
- Introducing measures to optimize your VAT position over the long term
- Preparing for Audit by Tax Administration
How D can help you:
____________________________________________
When we conduct a VAT review, we meticulously analyze the VAT situation of your company, looking for potential opportunities and risks arising from specific business transactions. We can identify any problems that exist and develop suitable solutions. In this way we not only optimize your VAT burden, but also enable you to avoid long-term VAT risks. A full VAT review will take account of your company’s specific needs and will help you get a better view of:
- The adequacy of your IT system (accounting software)
- Documentation of your IT systems
- Your VAT processes and policies
- Compliance
____________________________________________________________
Keep VAT risk under control:
Taking risk is natural of business. But we need to retain the risks that are quite unavoidable. Otherwise, we have to mitigate the risks by managing those firm specific risks. VAT risks are avoidable and can easily be mitigated if we develop and maintain a suitable operational process and internal controls. VAT, as a tax on transactions, affects almost all areas of a company’s business. The complexity of VAT for business transactions requires tax-paying companies to take special internal organizational measures.
The challenges you face:
- You wish to actively identify and monitor your VAT risks
- You want to or are obliged to document existing VAT processes and controls in a standardized way
- You’re looking for opportunities to improve your VAT processes and controls
- You want to ensure that your current VAT processes and controls correspond to the risk profile of your business operations
How D can help you:
____________________________________________
We work with you to develop an organizational framework to enable you to actively monitor VAT risks. Based on our experience, we can offer you monitoring solutions for your VAT risks tailored to your business. We can also support you in documenting and analyzing your current processes and advise you on how to improve your VAT processes and controls. Our VAT team will help you achieve the following goals:
- Active monitoring of your VAT risks at home and abroad
- Establishing a clear and cost-efficient organizational framework to monitor and control your VAT risks
- Improving existing VAT processes and controls
- Ensuring existing processes and controls correspond to your company’s risk strategy and risk profile
____________________________________________________________
Tackle industry specific VAT issues:
VAT needs of firms differs industry by industry. Each industry has its own special VAT pitfalls that companies must consider to ensure business processes operate efficiently and correctly.
The challenges you face:
- You operate in the manufacturing sector and need lower VAT compliance cost
- You operate both in manufacturing and service sector and need to eliminate complexities in VAT process and reduce compliance cost
- You operate in the financial sector and want to lower your VAT costs
- You operate in the public sector and want to examine the areas of your business subject to tax
- You are in the pharmaceuticals industry and are confronted with delimitation issues related to research
- You have a large real estate portfolio and want to optimize your VAT situation
How D can help you:
____________________________________________
Our VAT professionals have expertise specific to your industry and can offer customized services for a wide range of industries:
- Banks and financial institutions
- Insurance companies
- Real estate companies and funds and owners of commercial properties
- Companies in the pharmaceutical and chemical industries
- Energy companies
- Foods and restaurant
- Supply chain management (importers, suppliers, distributors, contractors)
- Companies in manufacturing and trade
- Exporters
We can also advise you on the entire range of issues affecting all industries, such as optimizing input VAT refunds or cash flows.
____________________________________________________________
Want to manage VAT issues with Merger, Acquisition and business spun off?
Mergers, acquisitions and divestments bring about major changes in terms of VAT. It is essential to identify the tax-related opportunities and risks early on, at every stage of the transformation and transitions during restructuring.
The challenges you face:
- You are planning to acquire a company and want to assess the VAT risks of your target as precisely as possible
- You want to optimize the integration of the target company from a tax point of view
- You want to avoid non-deductible input VAT
How D can help you:
____________________________________________
We can help you not only with purely VAT questions, but also with matters concerning group taxation for specific transactions. We can also accompany you step by step through all aspects of VAT involved in mergers and acquisitions, from strategic planning, structuring, due diligence and negotiations to support in the integration process. Our VAT solutions specially designed for groups of companies include:
- Group taxation: advice, implementation and training
- Optimizing VAT refunds (input tax deduction)
- Advice on drawing up contracts (liability clauses)
____________________________________________________________
The incidence of disputes between VAT authorities and tax-paying companies is on the increase. Our first move is to consult with the authorities to find a reasonable solution in your interest without having to engage in formal proceedings. However, this is not always successful, and in such cases we vigorously represent your interests, also in appeals and any court proceedings that arise.
The challenges you face:
- You want to make sure you have correctly complied with all the relevant VAT rules
- You want to be thoroughly prepared for an upcoming VAT audit by the tax authorities
- You require legal support in proceedings with the tax authorities
How D can help you:
____________________________________________
We can help you prepare all the records required for the audit and mitigate the risk of fines. With our combination of VAT expertise and legal experience, we can represent you effectively in any appellate proceedings with the tax authorities and courts of law. Our core competencies in this area include:
- homework for the audit
- dialogue with the authorities
- Representation in litigation procedures up to Supreme Court level
- avoiding criminal prosecution of tax offences
|
