Yousaf Amanat & Associates | View firm profile
The Firm recently secured a victory for an oil and gas service provider company headquartered in the US with operations in Pakistan in USD 1 million tax claim filed against the company in Islamabad, Pakistan. The company is one of the largest companies in the world for oil and gas services with operations in more than 75 countries.
The Commissioner for Income Tax had held that the Company owed the Government of Pakistan Federal Excise Tax in the sum of approximately USD 1 million.
Yousaf Amanat & Associates on behalf of the Company filed a reference before the Islamabad High Court challenging the verdict of the tax authorities. The Firm successfully demonstrated before the court that the Commissioner Income Tax had abused his powers by interpreting a license agreement as a franchise agreement and thereby levying federal excise tax incorrectly on the company.
The stellar performance by the Firm’s tax and litigation department led to the High Court remanding the matter back to the tax authorities to examine on a question of law.