Feburary, 2016

Taxation

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Direct Tax

US Tax

We are living in truly global society today. Increasing opportunities across the world both in terms of employment as well as investments meant that individuals and companies need to deal with tax laws of various countries. US tax laws in particular are one of the most complicated tax legislations across the world.

At PNK, we have a dedicated team of US tax specialists that can advise you on US tax issues and can also help file your US tax returns from India.

Our US tax services cover the following areas.

  • US Inbound services
  • US transaction Tax services
  • US Corporate Tax
  • Individual tax returns
  • Private equity or venture capital services
  • Compliance & outsourcing
  • Accounting support
  • Payroll Processing & delivery
  • Corporate Secretarial Support
  • Exchange control Regulatory Compliance

a. US inbound services
If you are looking to set up a business in the US, we can guide you in the selection of the right type of business (C-Corp, LLC, etc) as well help you in incorporating the company and obtaining all the necessary tax and regulatory registrations. As a part of our US Inbound services, we offer the following assistance:

Our planning approach is fact specific and would cover the following:
  • Incorporation Services
  • EIN/SSN/ITIN assistance
  • State Tax Registrations
  • Secretary of State Registrations for doing business.

b. US transaction Tax services
Are you considering acquiring a US target? In this case, it is very essential to conduct a detailed tax due diligence to ensure that there are no surprises later on. It is also very critical to structure the acquisition in the most tax efficient manner to ensure that you obtain all the relevant tax advantages.

In this area, we offer the following services:
  • US Tax Due Diligence
  • US Tax Structuring Advisory
  • Assistance in calculating Net Operating Loss Limitation (Section 382)

c. US Corporate Tax
Our dedicated team of corporate tax specialists can help you comply with all your regular corporate tax compliance requirements at the Federal and State levels.

Our services in this area are detailed below:
A. Corporate Tax Returns
  • Federal Corporate Tax Returns
  • State Corporate Tax Returns

B. Corporate Tax & Regulatory Compliance
  • Estimated Taxes
  • Tax Return Extensions
  • State Annual Reports
  • State Franchise Tax Returns

C. Corporate Tax Advisory
  • State Tax Nexus
  • Permanent Establishment issues
  • Withholding Taxes

D. Individual Tax Return
Our Individual tax return services offer personalized attention and customized solutions for each client. We don’t follow a cookie cutter approach like most off the shelf/online tax return product.

We can help you with the following compliance's:
  • Federal Partnership Tax Returns (Form 1065)
  • State Partnership Tax Returns

E. Private equity or venture capital services
Our specialist PE/VC Fund group can help you comply with all the necessary returns and reporting obligations with respect to your US investors.

We offer the following services:
  • Tax Structuring advisory for Funds
  • Preparation of Schedule K-1’s
  • Controlled Foreign Company (CFC) testing & reporting assistance
  • Passive Foreign Investment Company (PFIC) testing & reporting assistance
  • Dodd-Frank registration assistance.

F. Compliance & outsourcing
Back-office and support functions such as maintaining accounting records, payroll processing and delivery, statutory compliances entail resources in terms of manpower, competence and accuracy, and significant time, all these translating these functions into a significant cost center for an organisation.

While organisations, today like to focus more on their core business operations without compromising on their back-office and support functions, they wish to transfer back-office and support functions including compliance activities to such an outsourced services provider which is not only competent and knowledgeable but also brings cost savings to an organisation.

Efficient maintenance of accounting records, unfettered payroll delivery and timely compliances reduce risks, enable effective financial monitoring and control, and increase efficiency – advantages, named a few, can be endless!

At PNK, our Compliance and Outsourcing (C&O) Team of tax and regulatory services practice offers outsourced book-keeping, payroll processing and other statutory compliances services. The team packs rich experience in providing accounting solutions and payroll processing services to various domestic and multinational clients.

With the regulators’ closely tracking the compliances in the country’s ever-changing tax and regulatory landscape when ensuring timely compliances become challenging, the C&O team’s poised approach combined with vast experience and competencies makes it all smooth and ensures that statutory requirements/procedures are strictly followed, thereby preventing any defaults. Our value for money approach is an added virtue along with our rich experience and knowledge base.

G. Accounting support
  • maintenance of books of accounts
  • accounts payable / receivable processing
  • banking support (cheque processing, support for managing working capital)
  • preparation of annual statutory accounts
  • monthly reports and audit support

H. Payroll Processing & delivery
  • payroll management and processing
  • employee full and final processing support
  • computation and deposit of withholding tax along with associated return filings
  • provident fund related support

I. Corporate Secretarial Support
i. maintenance of secretarial records such as
  • minutes book
  • register of shareholders
  • register of directors
  • register of related party contracts
  • register of charges
ii. assistance in event-based filings

J. Exchange control Regulatory Compliance
  • compliance for reporting on Foreign Direct Investment
  • compliance for reporting on Overseas Direct Investment
  • approvals and applications
  • compounding and representation services.

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