Business Services

AUDIT & ASSURANCE

We are committed to delivering high quality audit and assurance services. Our services are in line with the International Standards on Auditing (ISA). We render personalized service and solution-based advice to deliver value and underpin stakeholder confidence. Our risk-based audit approach ensures that we focus on significant business issues affecting our clients’ financial statements with understanding of International Financial Reporting Standards (IFRS).

Statutory Audit :

• External Audit
• Consolidated Audit
• Project Audit
• NGOB Audit
• PNGO Audit
• PF Audit
• GF Audit
• WPPF Audit

Internal Audit :

• Work with internal audit function to assess the possible risk and defciency of existing control system
• Redesign the control map to align the business strategy
• Recommend the possible safeguards that reduce any threats to an acceptable level

Our activities involved the following :

• Asses and evaluation of financial transactions is free from material misstatement
• Asses whether Financial statements is prepared in accordance with the IAS/IFRS/ GAAP, relevant laws, rules and regulations
• Provide reasonable assurance regarding fnancial statements provide a true and fair view
• Review internal control system, identify the weakness, provide impact of control weakness and possible recommendations

TAX

Snehasish Mahmud & Co. offers clients a broad range of fully integrated tax services. We work closely with clients to deliver timely, high quality tax services to maximize tax-planning opportunities and find the right answers to the tax challenges in their respective industries.

SMAC assistance to its client to :

• identify and manage tax risks
• take pressure o? tax fling
• gain control on compliance obligations
• avoid tax accounting and reporting pitfall

Direct/Corporate Tax

To meet our objective SMAC o?ers its clients a broad range of fully integrated tax services.

Corporate tax retainer services (Where retainer is provided) :

• Review and submission of return U/S 108 & 75 A
• Advising on proper withholding tax and VAT from payment
• Collection of TDS and VDS challan and submission
• Preparation of monthly TDS & Salary TDS return and submission to the concerned authority

Corporate tax return (Where retainer is not provided) :

• Computation of Quarterly Advance Income Tax (AIT) and deposit to the same to Govt. Treasury
• Income tax computation, return submission
• Obtaining income tax clearance certificate

Assessment/ Appeal to CT/ Appeal to TAT/ Assenting in Review Application :

• Assessment at DCT level
• Revised assessment at DCT level after set aside by CT (Appeal), Tribunal
• Appeal against the order of the DCT
• Appeal fled by the assesses against the order of the CT (Appeal)
• Assisting client in fling reference application against the order of the Taxes Appellate Tribunal
• Assessment of withholding tax return (if return u/s 75(A) is selected for Audit)

Tax Advisory :

• Tax Health checkup, Tax Retainer Services, TIN registration, Transaction Compliance, Tax Consultancy

Tax Exemption & Approval :

• Provident Fund Exemption, Provident Fund Approval, Gratuity Fund Exemption, Gratuity Fund Approval, WPPF Exemption

Personal Income Tax :

• Tax planning, Income tax computation, return submission

Transfer Pricing :

• Statement of international transactions
• Transfer pricing documentation and study report
• Issuance of chartered accountant’s certificate

Indirect Tax

Local government is more concern to increase revenue through collecting indirect tax. Thus the regulations imposed by the authority is more rigid, which is made more difficult to manage the Indirect tax compliance now more than ever. SMAC has expertise to provide solution to its clients to face the indirect tax challenges.

Retainer Services :

• Monthly VAT return (Mushak 19) preparation & submission
• Review of the transactions as to whether VAT is deducted as sources
• Deposited to the Government exchequer on timely basis and to the right code of accounts

VAT Consulting :

• VAT Registration & address change
• Revenue and VDS reconciliation
• VAT assessment at various level (Assistant Commissioner/Commissioner/Appellate Tribunal), documents preparation & review, attending hearing on behalf of client

VAT Advisory :

• VAT health check up
• Advice to client as per client requirement/questionnaire

Customs Duty :

• Customs Duty-Advisory
• Customs Duty-Compliance

CONSULTING

With a sharp focus to simplify the complexity of today’s business environment, we bring together a team with consulting expertise. Our professionals serve companies throughout their business life cycle, helping them in their efforts to emerge stronger.

Accounting Services :

• Accounts Preparation (Monthly, Quarterly & Annual)
• PF Accounts Preparation
• WPPF Accounts Preparation
• Accounting Advisory
• FDI Reporting
• Accounts Review
• Financial Review
• ERP Implementation

Payroll Services :

• Monthly payroll processing
• Payroll tax computation and deduction
• Salary advice
• Online payslip and tax computation
• Deposition of monthly deducted tax
• Final settlement calculation
• Issue of annual investment notice
• Issue of annual salary certificate
• Monthly return of employees’ tax
• Annual return of employees’ tax

Corporate Finance Services :

• Financial Due Diligence
• Tax Due Diligence
• Valuation
• Merger
• Feasibility Study

Business Process Developments :

• Development of Financial Manual and Policy
• Development of Procurement Manual
• SOP Preparation for Finance & Accounts Department
• SOP Preparation for Corporate Finance
• SOP Preparation for Corporate Finance
• SOP Preparation for VAT Management
• SOP Preparation for Inventory & Fixed Assets Management
• SOP Preparation for Supply Chain Management

SMAC provides its client other consulting services like :

• Physical Verification of Inventory
• Fixed Asset Verification
• Preparation of Fixed Assets Register
• Preparation of Inventory Register
• Cost Certification
• Price Verification
• Legalization

BUSINESS SUPPORT SERVICES

Snehasish Mahmud & Co. offers clients a broad range of business support services which includes corporate secretarial services. We work closely with clients to deliver timely, high quality services.

Registrar of Joint Stock Companies (RJSC) :

• Name Clearance of Company
• Name Change
• New Company Incorporation
• Address Change
• Share Transfer
• Director Change
• AGM & EGM Preparation
• Increase/ Decrease Share Capital
• Return Filing (Annual & Return of Changes)
• Partnership Registration
• Society Registration
• Draft MoA & AoA Preparation

Bangladesh Investment Development Authority (BIDA) :

• E-visa Application
• Work Permit Application, Cancellation, Amendment
• Liaison/Representative Branch Office Registration & Renew of Registration
• Application of Approval of Outward Remittance (Royalty/Technical Know How fee/Technical Assistance Fee/ Fran chaise/ Other Technical

Apart from above, SMAC Business Support Services Team provide support to obtain certificate from various authority to continue business operations in Bangladesh. Few are as below as example:

• Obtain membership certificate from various chamber of commerce (New, Renew, Amendment)
• Trade License (New, Renew, Amendment)
• Other License to open factory from various Govt. Authorities (New, Renew, Amendment)
• Import Registration Certificate (New, Renew, Amendment)
• Export Registration Certificate (New, Renew, Amendment)
• Share Certificate Preparation & Share Register Update
• Attestation from Embassy
• Foreign Exchange - Advisory, Compliance
• Trademark
• Copyright
• Ministry of Commerce- Registration, Amendment