Value Added Tax (VAT) is a form of indirect tax that is added to the value of all goods (imported or supplied) and services being supplied. Value Added Tax is liable to be deposited at the Treasury by the person who supplies goods and services upon having collected the amount from the consumer. On the other hand, an Income TAX is a Tax levied that governments impose on the earnings of companies and individuals are referred to as income taxes. Earnings subject to income taxes can come from diverse sources, including wages, salaries, dividends, interest, royalties, rents, gambling winnings, and product sales.
VAT and TAX related legal services has become one of the critical and complex compliance issues for any individuals and business organizations. It becomes a high demand legal support services in Bangladesh. Particularly for companies, new investors & entrepreneurs knowing the different formalities involving taxation is a big challenge because of its complexity. In particular with income tax, different statutory requirements for e.g. advance tax on income, deduction of tax at source, tax exemptions, tax rebate, procedures for filing annual tax returns along with its assessments etc and their correlation which may be found difficult without proper knowledge. On the other hand, entirely new regulations are applicable to VAT. Understanding advance ATV (advance trade VAT), VAT rebate/input at different stages of trade, obligations of consumers, supplier, service provider and different MUSAK filing along with the filing of monthly returns is equally complex.
Considering above, SFCS coupled a good number of professional and technical expertise along with extensive legal knowledge to provide VAT & TAX preparation and processing services for any individuals and business organizations with expertise and in a professional manner.