With the introduction of new taxes starting 2011, in the name of goods and services tax (GST) and business profit tax (BPT) and frequent changes to the tax laws and regulations, we will make sure that you are never on the wrong side when it comes to tax compliance issues.

Selected examples of our work include:

• Tax planning
• Tax Preparation
• Tax Compliance
• Tax Appeals
• Goods and Services Tax (GST)
• Business Profit Tax (BPT)

Tax planning

Planning is the key to successfully and legally reducing your tax liability. We go beyond tax compliance and proactively recommend tax saving strategies to maximize your after-tax income.

We make it a priority to enhance our mastery of the current tax law, complex tax code, and new tax regulations by attending frequent tax seminars.

Businesses and individuals pay the lowest amount of taxes allowable by law because we continually look for ways to minimize your taxes throughout the year, not just at the end of the year.

We recommend Tax Saving Strategies that help you…

• grow and preserve assets by reducing your total tax.
• defer income so you can keep your money now and pay less taxes later.
• reduce taxes on your income so you keep more of what you make.
• reduce taxes on your investments so you can grow your wealth faster.

Tax preparation

Preparing your own income tax return can be a task that leaves you with more questions than answers. According to various studies conducted, most taxpayers believe they benefited from using a professional tax preparer.

Whether we like it or not, today’s tax laws are so complicated that filing a relatively simple return can be confusing. It is just too easy to overlook deductions and credits to which you are entitled.

Here’s what you get…

• Your tax return will be prepared by expert tax professionals.
• We will show you potential deductions to limit your tax liability for next year.  In addition, we will make you aware of commonly overlooked deductions to limit the following year’s tax liability.

Books a Mess: No Problem!

If you own a small business and haven’t kept up your bookkeeping, don’t worry. We can help you. We’ll assist you in preparing your bookkeeping for the year and prepare a full Schedule C, as well as your personal income tax return. Then we’ll help you set up a system to maintain adequate records to monitor your business effectively while reducing the effort of filing your return next year.

Tax compliance

In order to achieve your business objectives, your tax strategies must not only be aligned with the needs of your business but also meet your compliance obligations. Reporting and adherence to compliance rules have never been more critical or subject to more penalties.

We understand both your business needs and the tax constraints you operate under. Our professionals possess In-depth technical skills, regulatory knowledge and experience and are adept at problem-solving.

We have established highly effective tax teams who can advise on planning, tax compliance and reporting and who maintain effective tax authority relationships.

Our goal as tax practitioners is to help clients manage their tax concerns more effectively in what has become an increasingly complex environment. We engage in ongoing research, planning and consulting services businesses, associations and individuals.

Tax appeal services

If the Maldives Inland Revenue Authority (MIRA) ever makes a change to your tax return that you disagree with, you always have the right to appeal its decision.

Tax appeals are a common way to resolve disagreements you have with the MIRA that relate to items you report on your return.

If you decide to go this route, there are procedures you must follow to insure you retain your right to an appeal and we can help you successfully lodge appeals against MIRA decisions.

GST

We can ensure that you in compliance with the Goods and Service Tax (GST) Law and Regulation. Our experts can help you obtain answers for all questions related to GST whether they are areas that are not directly addressed in the GST Law and regulation.

We also offer GST Tax Return preparation and submission services as required by the client.

BPT

Business Profit Tax is a complex tax system that requires in-depth knowledge of the BPT Law and BPT regulation to successfully comply with it.

Frequent new Tax Rulings issued by MIRA makes it more difficult for your accountants to stay up to date with the most recent changes to the regulation while trying to meet the day to day demands of their job.

Our experts will make sure that you and your staff are well informed about the most recent changes to the Law and Regulation so that you will never run into trouble with MIRA.

We can also submit the First Interim Payment form, second interim payment form, and final BPT Return of a tax year if required by you.