Tel: 231886550045
Tel: 886550040,41,42,43
E-mail: info@suji.co.in

SERVICES

 

Direct Tax Consultancy Services
Taxation being a highly specialized area requires skills relating to tax planning, documentation and representations. Liberian Taxation environment is ever changing and can be challenging for any business. Our main focus is to identify opportunities for our clients that can help them to manage their affairs in the most tax efficient manner. The firm provides end-to-end tax planning, tax consultancy services including international tax planning, fringe benefit tax consultancy and risk assessment to corporate clients, Liberian Resident Individuals and Non Residents.

Services under this category can be classified as under:
Tax Support and Consultancy Services
We provide comprehensive tax support and consultancy services in the areas covering the following:
• Direct Tax
• Fringe Benefit tax
• Double taxation avoidance agreements
• International Taxation
• Risk Assessment and reporting

Tax Services for Corporate Clients
We specialize in Undertaking Direct tax support services for Multinational corporate clients, these services may be provided at the clients place or at our own office and may be suitably customized as per the requirements of each client. The services provided include the following:
• Handling day-to-day tax matters including replying to various tax notices and providing necessary tax support on regular tax matters
• Management of tax records and reports in Soft and Hard files including documentation as per GAAP
• Tax compliances including advance Income tax and FBT calculations and deposits, TDS (Withholding Tax) compliances and filing of various returns
• Tax Audit support services – Including compilation of various details for tax audit purposes and providing audit support to auditors
• Providing necessary information to Statutory auditors or management auditors in relation to tax matters
• Support in compilation of Transfer pricing Documentation and Certification
• Compilation of Corporate tax returns (Income tax, wealth tax and FBT) and its Filing with the revenue department
• Tax reporting on defined frequencies i.e. monthly quarterly, annually to Parent Company as per their formats
• Risk Assessment
• Compilation of Various details for Tax Assessment purposes (Scrutiny, Appellate level) for Income tax and Transfer pricing
• Tax representations before Assessing officers in connection with tax assessments including transfer pricing
• Discussions with senior councils for appellate and other important matters
• Coordination with the Internal Accounting department of the company for tax related support and tax account reconciliation
Personal Taxation Services
The constantly changing tax legislations and complex domicile status issues have made it essential for high net worth individuals, owner-managers of businesses, corporate directors and executives to seek expert personal tax advice.

We offer personal tax planning, tax compliance and advisory services covering the following:
• Personal Tax Consulting
• Personal Tax Compliances – Compiling and filing of Tax returns
• Review and assistance in advance tax computations
• Representation before Tax authorities in connection with tax assessments, refunds or other matters
• Support in getting various tax registrations including Tax Identification Number (TIN) etc.
• Management of tax records in Soft and Hard forms
• Advise on tax issues like capital gains/ loans/ tax Investments etc.

Tax Compliances
We undertake Regulatory compliances viz. statutory returns and documents preparations, compilations and filings with the revenue authorities including the following:
• Tax Audits as per the provisions of the Liberian Income tax Laws
• Preparation and Review of corporate tax returns to ensure compliances with the Income Tax Act
• Preparation and Review of the withholding tax (TDS) returns as per the provisions of the Income Tax Act
• Seeking Advance Rulings
Tax Representations
• Undertake tax representations before Revenue authorities for Tax Assessments of Income tax and transfer pricing cases and other tax matters

Payroll Solutions
The Firm provides End-to-End Payroll Services and Solutions incorporating the following:
• Monthly Payroll Processing
• Provident Fund (NSSWC) and Tax deduction at source -advisory and regulatory support
• Provident Fund and Tax deduction at Source- Returns Filing, Annual Assessment, Liaison with authorities etc.
• Payroll Designing, Benefits Structuring, Stock options and Perks Valuation advisory
• Employee statements, employees tax declarations, computation of tax, TDS certificates.
• Expatriate Tax compliances.

 

We have a separate focused Payroll team headed by a senior partner of the firm for execution of Payroll services.
Generally the Monthly Payroll Processing includes the following activities:
Master Data Creation or Updation
• Creation & Maintenance of database to capture the data related to Masters, Rules, Wage structures etc.
• Provision for investment declaration at start of the year to facilitate tax planning.
Payroll processing undertaken on a monthly basis includes the following:
• Updating of Masters and Employee data
• Incorporating any wage structure changes
• Reimbursements in the nature of expenses/ medical/LTA
• Incorporating any tax laws changes
• Ad-hoc payments - bonus, performance awards, ex-gratia etc.
Full and Final Settlement covering
• Appropriate tax deduction at source
• Adjustment of leaves/ loans/ other recoveries/ notice pays etc.
• Payment of gratuity/ leaves as per the provisions of law and company policy
Compliances of Statutory requirements as per various regulatory authorities covering the following:
• Professional Tax compliance
• PF compliance- Filing of various monthly and annual returns and forms
• Compliance with Employee Welfare Scheme such as Labour Welfare Board and others that may be applicable to the establishment

Outputs- provided by us on monthly, quarterly or annual basis.
Pay-slips (printed, emailed or net based). It generally covers the following details.
• Payments
• Deductions
• Loan balances
• Leave Balances

 

 

Taxation Services
I Professional support in filing Applications for Allotment of Tax Identification Number (TIN)

Certain transaction, as listed below, require mandatory quotation of TIN beyond specified monetary limits:
a. Transactions in shares, mutual funds, debentures etc.
b. Property Sale, Purchase or Renting
c. Filing of Tax return and for claiming refund of income tax
d. Banking transactions
e. Sale or Purchase of Motor Vehicle

II Filing of Return of Income
• The tax returns can be compiled as per the provisions of the Liberian Income tax Act, basis Inputs provided by the client. The return to be prepared may include compilation of Asset and Liability account and specifically capturing all such information covered under Annual Information reports (AIR)
• After the preparation of tax return, the same is to be filed physically as per the requirement of the tax laws, with the Liberian Revenue Authorities
• Tax Representations before tax authorities, if required, for tax refunds or any other clarifications
• Tax support services on regular tax matters
III Capital Gains
• Advisory support services in relation to Capital gains arising from the transfer of a capital asset being shares or debentures of an Liberian company, gold, Immovable property and any other capital asset
• Advice on Deposit of applicable taxes in Liberian
• Support in deposit of tax and repatriation of money

 

Regulatory Compliances
These services are primarily targeted at small to medium sized organizations and large sized Companies who want to have an Independent and professional support in the Regulatory compliances on a support model basis. The professional services covered under this group include the following:
Tax Deduction at Sources (Withholding Tax)
• Compliances with Liberian Withholding tax requirements- Including monthly compiling of TDS (Withholding Tax) from clients records, timely deposit of taxes, filing of Monthly Withholding returns and Issuance of Annually or Monthly certificates to Vendors Direct Tax
• Tax deposit management covering Advance tax (Income tax and FBT) calculations and deposit on quarterly basis and deposit of self-assessment tax and tax on regular assessments
• Risk Assessment- due diligence of direct tax exposures and reporting thereof for accounting provisions
Goods & Service Tax (GST)
• Goods & Service tax compliances including registration under the Goods & Service Tax, managing monthly/quarterly Goods & service tax deposits and filing of Monthly returns
• Accounting and Payroll management.
The services offered by us encompass a wide range of tax issues including:
• Review of various Tax positions taken by the company and its evaluation under the present tax laws, decided judicial pronouncements, past history of the company, audit developments etc.
• Supporting the review and advice on various tax Positions with clear and unambiguous tax law and more-likely-than-not recognition standards
• Supporting the evaluation with Documentation considering the appropriate level of evidence to hold management’s conclusions, materiality and complexity of the uncertain tax position
• Effective Tax Rates (ETR) Reconciliation
Start Up Ventures
We have a rich experience as business advisors and financial consultants to plan and oversee the implementation of business initiation plans. The key focus of these services is to assist enterprises to enter the Liberian market, set up a new business entity, and assist in handling the entire back office operations. We provide professional support for new foreign projects in Liberia covering the following areas:
• Identifying appropriate entry route
• Formation of Legal Entity in Liberia i.e. Incorporation of a company and preparation of Articles of Association and other legal support
• Due diligence reviews
• Obtaining registrations and permissions like Tax Identification Number (TIN) Registrations, Import Export Registrations (Business Registration), etc required to commence business operations in Liberian
• Representative office Facility - During the 'in transit period' support for office infrastructure and manpower is provided to the company
• Support in Accounting and Payroll management
• Regulatory Compliances covering Tax compliance and advisory management services, corporate, secretarial, financial services etc.
Assurance and Secretarial services
Our Services in this field includes:
Audits
• Audit as per the provisions of the Liberian Income tax Act/ Rules
• Fringe Benefit tax audit and advisory
• Statutory audits as per the provisions of the Liberian Companies Act
• Internal and systems audit
• Regulatory Audit like TDS Audits etc. – to ensure Regulatory compliances
Corporate law compliances
Secretarial Compliance, has come to the forefront in Liberian in recent times, with constant amendment to the statutes and the strictures of law, the adherence to the Companies Act, has been made more stringent.

 

 

 


Direct Tax
Fringe Benefit tax
Double taxation avoidance
Risk Assessment and reporting
Tax Services for Corporate Clients
Personal Taxation Services