TDAP to outsource tax operations

KARACHI: The Trade Development Authority of Pakistan (TDAP) has planned to outsource taxation and audit operations to streamline tax withholding issued and audit handling, a statement said on Monday.

The authority has invited request for proposal (RFP) for appointment of chartered accountant firm. TDAP needs a tax consultant to advise comprehensively on tax withholding obligations, including, but not limited to income and sales tax matters; to advice on day-to-day changes in tax laws of interest to TDAP and to provide assistance in handling tax audits of sales tax and federal excise duty by the FBR authorities and provincial revenue boards.

The consultant would also prepare the authority’s balance sheet, statement of income and expenditures account, statement of sources and annual reports along with the filing tax returns and representing TDAP before appropriate authorities. As part of audit handling, the consultant would provide assistance to TDAP at the time of audit of sales tax and FED by the FBR authorities, and apprise the management on tax matters through monthly report. The Trade Development Authority of Pakistan is a federal government entity working under the administrative control of the Ministry of Commerce.