We provide professional advice on issues pertaining to Customs, Sales Tax, Federal Excise and WTO both on retainer-ship and case-to-case basis. Services extended by us on these issues cover a wide range of areas including the following:
WTO Agreements allow member countries to protect their industries against subsidized imports by imposing anti-dumping and counter-veiling duties. We provide professional assistance to our clients to take up such matters with the National Tariff Commission and handle litigation in courts of law on their behalf.
Masood Aziz & Associates represents financial institutions as well as private individuals and companies in recovery matters initiated under the Financial Institutions (Recovery of Finances) Ordinance, 2001. We represent clients in Banking Courts and the High Courts of Pakistan in such matters.
We also provide advisory services regarding the application of State Bank of Pakistanâ??s foreign exchange regulations, prudential regulations and other regulatory laws to ensure compliance thereof.We also advise financial institutions about the applicability of the Sindh Sales Tax on Services Act, 2011 and other similar provincial laws relevant to their operations.
The firm provides legal services in all matters relating to company law including the following:
Classification of Goods under the Harmonized System of World Customs Organization (WCO):
Classification of imports and exports in accordance with the Harmonized System of Classification of WCO is a critical component of assessment of goods. The application of the correct HS Code determines the applicable rate of duty and all consequent aspects of assessments including eligibility for the exemptions and concessions under various notifications including Free Trade Agreements (FTAs).
Masood Aziz & Associates indicates the applicable HS Code on the basis of information furnished by clients through invoices, catalogues, test reports and other relevant documents. We provide this service both at the pre-import and post-import stage as and when required by our clients.
Importability of Goods:
In order to preempt any disputes regarding the importability of goods under the Import Policy Order, we analyze details of goods to be imported, their technical specifications and usage and accordingly advise our clients whether there are any restrictions or conditions on the import of certain goods into Pakistan.
Valuation of Goods:
Customs law on valuation provides an elaborate system of valuation based on the WTO Valuation Agreement implemented by Pakistan in 2000.
Determination of Customs value of goods is an important component of the assessment of goods for the determination of leviable amount of Customs duty and other taxes. Valuation disputes are quite frequent as the Customs authorities usually challenge the values declared by importers.
Our consultants assist our clients in this regard by advising them regarding the correct customs value of goods under the Customs Act, 1969. We provide professional assistance to our clients by citing the relevant provisions of Customs law in order to help them establish the correctness of the transaction value.
After the addition of Section 25A to the Customs Act, 1969, Valuation Rulings are frequently issued to fix the values of the imported goods. We help our clients to challenge such values to address their genuine grievances.
Export Trade Advisory:
Exporters frequently face difficulties in availing benefits of various export schemes. Our tax advisors maintain updated information of such concessions and procedures available under various schemes.
Our tax consultants evaluate the nature of clientsâ?? business models to advise them if any concessions are available to them under such schemes such as:
Post Clearance Due Diligence Reviews
We conduct post clearance audit reviews for our clients in order to establish whether their Clearing Agents made the correct declaration in the Goods Declaration Form.Our consultants review the Goods Declaration in the light of the provisions of Import/Export Policy Orders, Customs laws and other applicable regulations. Irregularities, if any, are identified and conveyed to the clients to avoid future disputes or mistakes of a similar nature.
Masood Aziz and Associates drafts and vets Corporate and Commercial Agreements including but not limited to:
We act on behalf of private individuals in the Family Courts in matters relating to:
We advise and represent aggrieved clients in matters where a bidding process is not conducted as required to be carried out under the public procurement laws of Pakistan.We also study bidding documents prior to their submission to ensure their compliance with the bidding criteria and process.
Over the years, Sales Tax has become a major tax in Pakistan. Frequent amendments in sales tax laws presents a challenge to sales tax registered persons.
Masood Aziz & Associates provides professional assistance on sales tax matters to local as well as multi-national entities.
Our services include advising clients on matters pertaining to:
After the 18th amendment to the Constitution of Pakistan, the collection of sales tax on services has devolved to the provincial governments.
We provide legal advice on all matters pertaining to our clients of various services sectors including financial institutions, the industrial sector and other commercial entities.
Our services in this regard include advising clients on:
We also advise financial institutions about the applicability of the Sindh Sales Tax on Services Act, 2011 and other similar provincials laws on their operations.We represent clients before the Sindh Revenue Board Appellate Tribunal as well as the High Courts of Pakistan to defend disputed matters of Sales Tax on Services.
Masood Aziz and Associates conducts training workshops and seminars for the training of its corporate clientâ??s employees. We have in the past conducted such workshops and seminars on the following topics: