Tax Compliance & Advisory

Corporate Tax Return Preparation and Filing

Our firm provides comprehensive corporate tax return preparation and filing services for businesses of all sizes in Nepal. We ensure accurate calculation of taxable income, application of relevant deductions, and timely submission of returns to the Inland Revenue Department. Our experienced team stays up-to-date with the latest tax laws and regulations, helping clients minimize tax liabilities while maintaining full compliance. We meticulously review financial statements, gather necessary documentation, and prepare returns in accordance with Nepalese tax laws. Our service includes guidance on estimated tax payments, handling of tax notices, and assistance with any follow-up queries from tax authorities.

VAT Compliance and Advisory

Value Added Tax (VAT) compliance is crucial for businesses operating in Nepal. Our VAT compliance and advisory services encompass registration, periodic return filing, and strategic planning to optimize VAT positions. We assist clients in maintaining accurate VAT records, ensuring proper input tax credits, and timely submission of VAT returns. Our team provides guidance on VAT implications for various transactions, helps resolve VAT-related disputes, and offers advice on VAT planning opportunities. We keep clients informed about changes in VAT regulations and assist in implementing systems to streamline VAT compliance processes, reducing the risk of penalties and ensuring smooth business operations.

Customs and Excise Duty Compliance

Navigating the complex landscape of customs and excise duties requires expert knowledge and attention to detail. Our firm offers comprehensive customs and excise duty compliance services to businesses engaged in import and export activities. We assist in proper classification of goods, determination of correct duty rates, and preparation of necessary documentation for customs clearance. Our team provides guidance on available exemptions, duty drawback schemes, and compliance with rules of origin. We help clients optimize their supply chain to minimize duty liabilities while ensuring full compliance with customs regulations. Our services also include assistance with customs audits and resolution of disputes with customs authorities.

Employee Tax Compliance

Ensuring compliance with employee tax regulations is essential for businesses of all sizes. Our employee tax compliance services cover all aspects of payroll taxes, including calculation of income tax withholdings, social security contributions, and other statutory deductions. We assist in preparing and filing monthly and annual tax returns related to employee compensation. Our team provides guidance on tax implications of various employee benefits, stock options, and expatriate taxation. We help clients implement efficient payroll systems, conduct internal audits to ensure compliance, and offer training to HR and finance teams on employee tax matters. Our services aim to minimize compliance risks while optimizing tax positions for both employers and employees.

International Tax Compliance

In an increasingly globalized business environment, international tax compliance has become more complex and crucial. Our firm offers expert guidance on cross-border tax issues, helping businesses navigate the intricacies of international taxation. We assist in structuring international transactions, advise on transfer pricing policies, and ensure compliance with foreign tax regulations. Our services include preparation of country-by-country reports, management of controlled foreign corporation (CFC) rules, and guidance on permanent establishment issues. We help clients optimize their global tax positions while ensuring compliance with both Nepalese and international tax laws, including BEPS (Base Erosion and Profit Shifting) initiatives.

Tax Audit Support and Representation

Our tax audit support and representation services provide clients with expert assistance during tax audits conducted by Nepalese tax authorities. We help prepare and organize necessary documentation, respond to audit inquiries, and represent clients in meetings with tax officials. Our experienced team reviews proposed adjustments, prepares technical arguments, and negotiates with tax authorities to achieve favorable outcomes. We assist in drafting responses to audit findings, filing objections or appeals when necessary, and guiding clients through the entire audit process. Our goal is to minimize tax exposures, protect clients’ interests, and ensure a smooth and efficient audit experience.

Tax Legislation Updates and Advisory

Staying informed about changes in tax legislation is crucial for maintaining compliance and optimizing tax positions. Our tax legislation update and advisory service keeps clients abreast of the latest developments in Nepalese tax laws and regulations. We provide regular updates on new tax provisions, amendments to existing laws, and changes in tax rates or procedures. Our team analyzes the impact of legislative changes on clients’ businesses and offers practical advice on necessary adjustments to tax strategies. We assist in implementing new compliance requirements and help clients take advantage of new tax incentives or planning opportunities arising from legislative changes.

Tax Treaty Interpretation and Application

Nepal has entered into double taxation avoidance agreements (DTAAs) with several countries, making the interpretation and application of tax treaties a crucial aspect of international business. Our firm provides expert guidance on the interpretation and application of tax treaties to help clients optimize their cross-border tax positions. We assist in determining the applicability of treaty provisions, advise on permanent establishment issues, and help clients claim treaty benefits. Our team provides guidance on withholding tax rates under various treaties, assists with obtaining tax residency certificates, and advises on the interaction between domestic tax laws and treaty provisions. We help clients navigate complex treaty issues to minimize double taxation and ensure compliance with both treaty and domestic tax laws.

Tax Health Check and Compliance Review

Our tax health check and compliance review service offers a comprehensive assessment of a client’s tax position and compliance status. We conduct thorough reviews of tax returns, financial statements, and underlying documentation to identify potential risks or areas of non-compliance. Our team examines the client’s tax calculation methodologies, verifies the accuracy of tax treatments for various transactions, and assesses the adequacy of supporting documentation. We provide detailed reports highlighting any identified issues, potential tax exposures, and recommendations for improvement. This service helps clients proactively address compliance gaps, optimize tax positions, and minimize the risk of penalties or disputes with tax authorities.

Tax Authority Liaison and Negotiation

Effective communication and negotiation with tax authorities are crucial for resolving tax disputes and maintaining good relationships. Our tax authority liaison and negotiation service provides expert representation in dealings with Nepalese tax authorities. We assist clients in responding to tax notices, preparing for tax authority meetings, and negotiating settlements for tax disputes. Our experienced team helps draft technical submissions, presents arguments to tax officials, and works towards achieving favorable resolutions. We leverage our deep understanding of tax laws and procedures to effectively advocate for our clients’ positions. Our goal is to minimize tax liabilities, resolve disputes efficiently, and maintain positive relationships with tax authorities for our clients’ long-term benefit.