Zahur & Mostafiz Chartered Accountants

nges in Income Tax law immediately after the change occur

VAT :
· All sort of Services relates with VAT Act and Rules
· Inform all the new inclusions and changes in VAT Act and Rule immediately after the change occur

Secretarial Services

This wing perform the jobs relates with :

01. The Ministry of Home Affairs

Valuation
Valuation of Fixed Asset and Implementation of Fixed Asset Management System

Due Diligence
· Due Diligence Investigation and Reporting

Foreign Private Investment And Expatriate Services

Mergers And Acquisition
· Mergers and Acquisition

Employee Outsourcing

Financial Management :
Business Plans and Financial Projection Wing
HR and Business Management Consultancy Services
Management and Financial Review
Design and Development of Financial systems and manuals


ACCOUNTING OUTSOURCING


In today's scenario of globalization and technology convergence, the process of doing business has been redefined. Outsourcing various processes makes a lot of business sense. Most businesses and large companies are outsourcing their accounting processes for better management of their finances and time etc. These services are structured to suit an individual client's needs and requirements. Some of the accounting services being outsourced are:

General Accounting and Bookkeeping Services
The service involves preparing and maintaining day-to-day bookkeeping and monthly or quarterly management accounts. These books are prepared as per the US GAAP accounting standards and can also be made as per specific client instructions. Preparation of Financial Statements
The service involves preparing a company's annual accounts and schedules ready audit. Payroll Services
The service involves preparing monthly salaries of employees, administering commissions, calculating incentive and bonus payments, and monitoring and reimbursing staff expense accounts. Calculation of pensions and insurance is also done. Interim Financial Reporting

Reconciliation Work

Accounts Payable and Vendors Management
The service involves paying off the creditors at a chosen time and leaving the ultimate control with the management. Accounts Receivables and Collections
The service involves assisting the client with the recovery of debts. Taking necessary legal action in case of defaulters. Cash Handling and Banking Operations
The service involves assisting the client with treasury functions including the operation and monitoring of high interest deposit and current accounts. Cash Forecasting
The service involves analyzing the cash requirements of the business and making cash forecasts for planning the future. Bank and Credit Card reconciliation
The service involves reconciliation between the transactions through Bank and Credit Card. Fixed Assets maintenance and Depreciation thereon
The service involves registration of Fixed Assets and charge of Depreciation through an Asset software. MIS Reporting
The service involves monthly report regarding the overall performance of the company. Budgeting and Forecasting
The service involves assist in preparation of monthly, quarterly and yearly budget. Advantages
Companies are outsourcing accounting services to avail the following benefits:
Collection, summarization, and accurate analysis of financial data
Correct interpretation of the company's financial position
Analyzing the potential risks in advance
Optimization of business resources and processes
Informed and better managerial decision making
Cost effectiveness
Time saving
AUDITING SERVICES

Accounting audit includes an independent assessment of how fair the management has been while making and presenting the company's financial statements. It also includes evaluating an organization, its accounting system, processes etc. Auditing service is provided to check the validity and reliability of the financial facts provided by the company and also for providing an assessment of a business, company. The auditing service is performed with complete fairness and by independent and competent people known as auditors, who then prepare a report based on the audit conducted. Why Audit is required? Audit helps to run a company/ business efficiently and cost-effectively. It includes thorough examination of how a company operates, how is keeps its stock levels, payment receivable period, creditors management etc. It helps a company know its areas of improvement and also helps to avoid any financial errors and omissions. It is necessary for testing the company performance against industry standards and its direct competitors. The process helps in providing and recommending ways to improve the company's existing accounting practice. Auditing Service Offered
Auditing is a vast field in itself. It involves a comprehensive study of a company and its accounting systems. We offer the following Auditing services to our valued clients:

Internal Audit / Concurrent Audit service
The service involves assessing and evaluating a company's system of internal control. The service ensures improvement and value addition to company's operations. The emphasis is always on strengthening the internal control systems for minimizing accidental or deliberate accounting errors and omissions. It also involves protection of assets and ensuing compliance with a company's internal operating policies. Management Audit Service
The service involves assessing, checking and making sure that management procedures are being conducted in a way to assure quality, integrity or standards of provision and outcomes. It also includes maximizing the management performance by improving the internal processes of an organization. Operational Efficiency Audit Service
The service involves ensuring that all the resources of an organization are being optimally used for delivering maximum possible return/value. It also includes streamlining various internal processes, measuring the performance of management and staff and also ensure minimal waste. Special Investigative Audit Service
The service involves helping the businessmen or corporate clients to prevent situations of fraud and financial impropriety. It involves assisting the clients in every possible manner to find out cause for any frauds and preventing them. Due Diligence Review
The service involves helping businessmen and corporate clients during merger & acquisitions, joint ventures and investments. It involves informing the clients about the local laws, regulations, accounting practices and thus make sound financial decisions. IT Audit
The service involves developing and installing systems that help to manage accounting data and costs. This further helps the management in making critical decisions. Compliance Audit :
The service involves helping the clients to compile the final accounts as per Accounting Standards , Company Law and other rules and regulations applicable for business community. TAXATION SERVICES

Our tax practicing theme is to make our people tax minded, knowledgeable about tax law and make them maximum beneficiary by keeping themselves within the law. We are not a typical tax practicing firm who’s only intention to negotiate with the authority rather we intend to serve our clients by using our utmost knowledge so that tax expense is minimized. We serve for the following Tax issues :

01. Obtaining all sort of tax certificates like TIN and Tax clearance certificates, exemption certificates etc.
02. Obtaining all sort of permissions and allowances like tax holiday permission
03. Computation of tax and deferred taxation
04. Preparation and reviewing of tax return and computation
05. Assist in corporate and personal income tax compliance
06. Assist in preparation of year end tax accounts
07. Advice about tax payment
08. Advice for improvement of tax compliances
09. Submission of Tax Return and Completion of Assessment
10. Provident and Gratuity Fund Recognition
11. All sort of tax advisory services

Our Services are not only for corporate clients rather we have divided our tax team to serve different group of clients such as:

Local Individuals
Expatriates
Liaison Office
Branch Office
Local Company
Joint Venture Company
100% Foreign owned Company


Local Individuals:


We offer end-to-end tax returns processing services to local individual clients with consistent quality and ensuring guaranteed turnaround time. In our country the last date of submission of tax return for local individual is 30th September in year. Our firms always take necessary initiative to calculate the tax for each individual by the following dates:

For the persons who are service holder : By the end of April
For the persons other than service holder : By the end of July


By 15th August we will complete the Income Tax Return for the above group and submit the Returns latest by 31st of August. After submission of the Tax Return we will collect the Tax Clearance Certificates by 20th of September and deliver those to our clients immediately. Expatriates:

We offer extensive tax support services to our expatriate clients. For them we have an expert team who will complete to calculate the tax liability according to their work permit by the end of April each year. We will also help to pay the taxes for our clients through Pay Order favoring the concerned tax officer. We will prepare the Income Return for them by the end of July and submit the Tax Return to the Concerned Circle by 15th August. After submission of the tax Return we will collect the tax clearance certificates by 31st of August and deliver those to our clients immediately. Liaison Office:

Usually liaison offices are not liable to pay tax subject to comply with the Income Tax rules and regulations and other local laws. We always provide to our clients the rules and regulations to be complied with. After submission of the latest quarterly statement to the BOI and Bangladesh Bank , immediately we will consolidate the statements and prepare the financial statements to be audited. After the audit is done by our audit team, we will prepare the Income Tax Return and submit the Return by 20th August. We will collect the tax clearance certificate by 15th September and deliver the certificates immediately. Branch Office:

For Branch offices we will complete the audit by 31st August and prepare the tax return by 20th September and submit the Return by 30th September. We will collect the Assessment Order by 20th October and deliver those immediately. Local and 100% Foreign Owned Company:

The entire audit we will complete by 31st October and Prepare the Tax Return by 20th November and submit those the 30th November. All the Assessment has to be completed by 20th December and we will deliver the Assessment Order by 31st December. Different schedules we will prepare for those companies whose year ending are other than 30th June. CUSTOMS EXCISE AND VAT SERVICES:

Our services include the following :

01. Assist in VAT Registration
02. Assist in Submission of monthly VAT Return ( Mushak 19)
03. Assist in maintenance of Books (Mushak 16, 17, 18 and any other supplementary register)
04. Assist in declaration for Premises, Plant, Machinery, Fittings, Raw Material, Semi Finished and Finished Goods
05. Assist in change of Office Address
06. Assist in preparation of 11 and 11KA
07. Assist in Preparation of Debit note and Credit Note
08. Assist in removal of wastage
09. Assist in VAT rebate for manufacturing concern and duty draw back for export oriented concern
10. Assist in VAT audit
11. Assist in Appeal and Tribunal for any VAT issues
12. Any other VAT related issue.
13. Assist to get the Bond License


We have a well trained and specialized CEV unit to serve our clients dedicatedly. SECRETARIAL SERVICES


These wings perform the jobs relates with the following authorities:

01. The Registrar of Joint Stock Companies and Firms (Company Law Consultancy)
02. Board of Investment (Foreign Investment and Expatriate Services)
03. Immigration and Passport authority (Expatriate Services)
04. The Bangladesh Bank


Company Law Consultancy

The Companies Act 1994 governs both public and private companies in Bangladesh. There are number of legal and administrative requirements and guidelines that need to be followed while setting up a company. We as a Professional chartered accountants firm provide the necessary information and consultancy for helping our clients to set up business in Bangladesh without consuming too much time and resources. Some of the services provided to both domestic and international companies are:
Advice and consultation on Companies Act 1994
Company formation process
Registered office facility
Filing annual returns on behalf of the client
Preparation of all documentation related to minutes and resolutions
Preparation and maintenance of statutory books
Assistance in changes of directors, shareholders, addresses, and office details
Bonus Issues
Share transfers
Allotment of Shares
Change of Memorandum and Articles of Association
Change of Registered Address of the Company
Submission of Charge creation documents and assist in collection of charge creation certificate
Any other issues relates to company affairs as per the requirement of the valued client
We help our clients to fulfill various formalities required for setting up a company and making it a going concern. We provide even the minutes detail to clients for their ease and also to avoid any penalty. We help the client keep posted with changes in the Act. Foreign Investment and Expatriate Services

The last decade has seen Bangladesh encouraging foreign direct investment (FDI) in almost all sectors including manufacturing, insurance, telecom, software, trading etc. This has lead to many international giants setting up operations in Bangladesh, or entering into joint ventures with many Bangladeshi companies. International companies can set up business operations in Bangladesh by forming a new company, through wholly owned subsidiaries or joint ventures
Opening a branch office
Foreign companies engaged in manufacturing and trading activities abroad are allowed to set up Branch Offices in Bangladesh. Opening a liaison/representative office
A Liaison Office could be established with prior approval of Board of Investment of Bangladesh. The roles of Liaison Office are limited to collection of information, promotion of exports/imports and facilitate technical/financial collaborations. Liaison office cannot undertake any commercial activity directly or indirectly. Assist in getting Work Permit for the Expatriates
Expatriates can get their work permit from the Board of Investment of Bangladesh by the following steps:
Step 01. The Company needs to advertise to employ in it through newspaper or internet. After selecting the expatriate, the Management of the company would take its decision to employ the expatriate by a Board meeting. Step 03. An appointment letter has to be issued towards the expatriate mentioning the pay and allowances and other benefits. Step 04. The Company then will apply to the Board of Investment to issue “E” category visa or “PI” category visa as applicable for the expatriate
Step 05. After coming into Bangladesh with the valid work visa , the company then will apply for the work permit in favor of the expatriate. Step 06. After the work permit is issued, The company then will apply to the Immigration and Passport department for issuance of multiple visa and they will get 6 months visa initially. Step 07. After issuance work permit, an enquiry will be borne by the Special branch of Police(SB) and National Security Intelligence(NSI) regarding the Security Clearance of the Expatriate. The report will be submitted to the Ministry of Home Affairs and The Ministry will then Issue Security Clearance in favor of the expatriate. Step 08. After obtaining Security Clearance, when they will apply for multiple visa extension, they will be given one year multiple visa or up to the date of the work permit. We provide every support to obtain the work permit, multiple visa for the work permit holders and their family, to obtain Single entry and Re-entry visa, To change the category of the visa and other applicable services as and when required by the expatriates. Services with regard to Bangladesh Bank:

Our services include:

· Assist in getting Permission under section 18A of the Foreign Exchange Regulation Act 1947 for Liaison and Branch office for receiving remittances from abroad.
· Assist in getting permission under section 18A of the Foreign Exchange Regulation Act 1947 for working with the foreign principal/buyer
· Assist in getting permission under section 18B of the Foreign Exchange Regulation Act 1947 for expatriates working in Liaison offices in Bangladesh
· Any other services as per the requirement of the clients. VALUATION
Valuation of Fixed Asset and Implementation of Fixed Asset Management System


MERGERS AND ACQUISITION
· Mergers and Acquisition

EMPLOYEE OUTSOURCING

CORPORATE FINANCIAL SERVICES

Corporate finance is a specific field of finance related to the various financial decisions taken by corporations. The main purpose of Corporate finance is enhancing the corporate value and minimizing financial risks. It is a vast discipline and involves taking long and short term financial and investment decisions. Professional accountants provide consultancy services related to corporate finance to large organizations. These include capital investment decisions and working capital management etc. Types of Corporate Financial Services Provided

Professional accountants provide the following services to domestic and international clients. Capital structuring
Budgeting
Acquisition and Investment
Financial modelling
Financial planning
Funding
Dividends and taxation
Project valuation
Preparation of reports on financial viability of a project
Raising finance through issue of shares, term loans, inter-corporate deposit etc
Financial risk management. DUE DILIGENCE REPORTING

Due diligence is a process of investigation undertaken by various lenders including banks and financial institutions for assessing the performance of a business. It is a comprehensive process that can be undertaken to assess the potential of a business during different situations including joint ventures, merger & acquisitions etc. Objective and Process
The objective of undertaking the process is to forecast the future performance of an organization by analyzing the potential risks and threats. Due diligence attempts to improve the efficiency of the existing business processes. The process includes identifying and analyzing important transaction issues and also identifying the potential risks that a business might face. Features of Due Diligence Reports
Conducting a fair and independent analysis & evaluation of financial and commercial information. Collection, analysis and interpretation of financial, commercial and tax information in detail. Collecting and reviewing financial information to be provided to bidders and various stakeholders. Auditing the special purpose accounts. Due Diligence Reports

These reports are prepared by collecting, analyzing and compiling the data collected during the due diligence process. It helps to clearly point out the potential risks and a company's current financial situation. These reports help to save money, time and efforts of the management. Professional accountancy firms undertake due diligence reporting on behalf of the clients and help them take sound decisions. This also helps the client save lot of money, and time spent on collecting and analyzing financial & commercial information. MERGERS & ACQUISITIONS

The term Mergers & Acquisitions refers to combining or merging of two or more business enterprises to form one single company. It is a part of a company's strategy for expanding and strengthening its operations. The process undertaken is usually beneficial to both the companies that are merging or if a bigger company is acquiring a smaller company. Merger & Acquisition is a corporate finance strategy of a company and is a comprehensive process requiring the need of professional lawyers and chartered accountants to understand the financial and legal implications. Types of Mergers

Horizontal mergers: A situation when two or more merging companies manufacture similar product in the same industry. Vertical mergers: A situation when two or more merging companies work at different stages of manufacture of a same product. Conglomerate mergers: A situation when two or more merging companies operate in different industries. Accounting professionals help a company during M&A and have the necessary expertise to analyze whether the company is entering the right deal, whether the company can afford the acquisition, avenues for future growth etc. Accounting firms provide comprehensive services in every stage of the process right from identification of potential acquisition to negotiations, financial implications, cost of merger and forecasting the future potential etc. These firms also provide the following services:
Review of a company's goals and objectives
Due diligence service
Preparation of financial forecasts
Advice on potential threats and rewards involved in a merger/ acquisition
Complete assistance in purchase negotiations

SPECIALIZED SERVICES FOR BANKS:

· Assist in cheque processing for clearing house
· Assist in cheque processing for collection
· Assist in collection coordination services for the Banks having no branch in different locations in Bangladesh
More Services for Bank and other financial Institutions
a. Collateral Inspection
b. Land Valuation
c. Mortgage Deed Registration
d. Collection of Registered Mortgage Deed
e. Search Report from Registry Office
f. Outsource services for public placement
g. Submission of Income Tax Return for Individuals (Employees)
h. Payroll Processing and issuance of pay sleep
i. Provident Fund Audit
j. Fixed Assets Inventory taking



BUSINESS PLANS AND FINANCIAL PROJECTIONS:

We also undertake preparation of strategic business plans and financial projections for our clients – both domestic and international-


Our services include:

· Preparation of business plans based on the existing business ideas/concepts of our clients.
· Assistance to clients in the preparation of financial projections based on their business plans.
· Projections are based either on the data obtained from clients or on the basis of our in-house research. HR AND BUSINESS MANAGEMENT CONSULTANCY SERVICES:

· Internal and Management Audit
· Due Diligence Review.
· Transfer Pricing.
· Recruitment of Finance and Administrative personnel.
· Provide outsource services in Finance and Administrative department.
· Other allied services