ANTI-DUMPING LAWS SAFEGUARD MEASURES AND COUNTER-VEILING DUTIES
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.
BANKING LAWS
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 provide advisory services regarding the application of State Bank of Pakistan’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:
PROPERTY LAWS, REAL ESTATE AND RENT LAWS
The firm provides legal advice on property-related matters including preparation of conveyancing agreements, lease agreements, rental agreements, due diligence of properties prior to transactions (including searching the property registrars so as to ensure clean title) and negotiate terms for parties to successfully consummate property transactions.
We also represent clients in property and rent cases in contentious disputes before the courts of Pakistan.
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.
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.
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.
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 clients’ business models to advise them if any concessions are available to them under such schemes such as:
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 & Associates can advise on all matters pertaining to corporate and commercial law to local clients and foreign clients wishing to make investments in Pakistan. This includes advice on company formation, structuring and setting up business entities such as branch or liaison offices in Pakistan, foreign exchange regulations, and licensing requirements under various regulatory regimes. We also advise companies listed on the Pakistan Stock Exchange on corporate governance requirements, securities laws, and various disclosure requirements.
Our team can draft, review and advise on various commercial agreements and contracts required by business entities in the course of conducting business such as memorandum of understandings, employment contracts, confidentiality and non-disclosure agreements, distribution agreements, joint-venture agreements, share purchase agreements, asset purchase agreements, franchise agreements, agency agreements, shareholders’ agreements, term sheets, licensing agreements, partnership agreements, IT agreements, website maintenance agreements.
COMPETITION LAWS
The regime of competition laws in Pakistan are very broad in scope and may impact a number of business and commercial deals. The lawyers at Masood Aziz & Associates have experience in advising on various competition law issues such as abuse of dominant position, deceptive marketing practices, exclusivity arrangements which may fall under prohibited agreements under the Competition Act, 2010 and the regulations made thereunder. We also advise on requirements relating to seeking pre-merger thresholds for merger & acquisition transactions. Furthermore, we can apply to seek pre-merger clearance for transactions as well as regulatory exemptions for certain agreements from the Competition Commission of Pakistan.
Members of our team have also filed appeals against various orders of the Competition Commission of Pakistan.
We act on behalf of private individuals in the Family Courts in matters relating to:
We provide advisory services on matters involving interpretation of Income Tax laws. Our services include representing clients before the Appellate Tribunal Inland Revenue and the High Courts of Pakistan.
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 prescribed under the public procurement laws.
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:
Our team conducts annual audit of sales tax records to pinpoint inadequacy, if any, to obviate the chances of an audit objection by Inland Revenue officers and auditors. We prepare replies to Audit Observations and objections raised by the Inland Revenue Department. We also regularly advise clients on matters requiring the approval or the intervention of officers at the Large Taxpayers Unit and Regional Tax Offices.
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.
The firm provides advice to its clients in successions and inheritance matters. In this regard, we provide advice regarding the applicable laws which apply to testamentary wills and succession. We also assist clients in obtaining letters of administration and succession certificates in the event of the death of a family member, either through court or NADRA..
Masood Aziz and Associates conducts training workshops and seminars for the training of its corporate client’s employees. We have in the past conducted such workshops and seminars on the following topics: