• As someone who knows little about running a business from a financial and statutory perspective I find Ramanah & Associates very reliable and helpful in ensuring I meet all my statutory obligations. A very organized and proficient service
    Author : Carla Ramanah
    Stable Manager
    Forbach Stable
  • This is to certify that Ramanah & associates has undertaken our financial and secretarial duties since incorporation of our company and has performed its task without delay.Its staff is painstaking and diligent. Our records are kept in full confidentiality and we trust them for their intelligent counselling of our financial management. We sincerely support them for any future endeavours.
    Author : Vijay Luchmun
    Managing Director
    Vijay Trading Co Ltd
  • It's my pleasure to inform you that your company has always delighted us of prompt services and suggest others not to hesitate to approach your company for the excellent services.
    Author : Mrs Woocheet
    Director
    Jayelec Company Limited
Testimonial

Customer Testimonials

" As someone who knows little about running a business from a financial and statutory perspective I find Ramanah & Associates very reliable and helpful in ensuring I meet all my statutory obligations. A very organized and proficient service ! "-Carla RamanahStable Manager Forbach Stable
" This is to certify that Ramanah & associates has undertaken our financial and secretarial duties since incorporation of our company and has performed its task without delay.Its staff is painstaking and diligent. Our records are kept in full confidentiality and we trust them for their intelligent counselling of our financial management. We sincerely support them for any future endeavours. ! "-Vijay Luchmun Managing Director Vijay Trading Co Ltd
" It's my pleasure to inform you that your company has always delighted us of prompt services and suggest others not to hesitate to approach your company for the excellent services. ! "-Mrs Woocheet Director Jayelec Company Limited
More Testimonials

Value Added Tax (VAT) and other indirect taxes

VAT can be a complex and expensive exercise if not applied properly. It can affect your bottom line. Let us help you protect your profitability by helping and guiding you. We can also take the administrative burden away from you and do it in house. In this way you can sleep soundly knowing that your VAT matters are being handled by our professional and well trained team. We can also provide you support with other indirect taxes like. Stamp duty, customs etc.

Our VAT department provide the following services

  • VAT Registration and deregistration
  • Administration and compliance
  • Completion of VAT returns
  • VAT reviews
  • Attending VAT inspection
  • VAT appeals
  • Review of VAT accounting systems

Important information and dates:

A person has to apply for compulsory registration in any of the following circumstances :

  1. If in the course or furtherance of his business he makes taxable supplies and the turnover of the taxable supplies exceeds or is likely to exceed Rs 2,000,000
  2. His turnover does not exceed the specified limit, but he is engaged in any of the businesses and professions mentioned below:
    • Accountant and/or auditor
    • Advertising agent
    • Adviser including investment adviser and tax adviser
    • Architect and/or draughtsman
    • Attorney and/or solicitor
    • Barrister having more than 2 years standing at the Bar
    • Clearing and forwarding agent under the Customs Act
    • Consultant including legal consultant, tax consultant, management consultant and management company other than a holder of a management license under the Financial Services Development Act 2001
    • Customs house broker under Customs Act
    • Engineer
    • Estate agent
    • Land surveyor
    • Marine surveyor
    • Motor surveyor
    • Notary
    • Optician
    • Project manager
    • Property valuer
    • Quantity surveyor
    • Sworn auctioneer
    • General sales agent of airlines
    • Dealers registered with the Assay Office under the Jewellery Act
    • He is engaged in any of the businesses specified below, irrespective of the turnover of his taxable supplies :
    • Banking by a company holding a Banking Licence under the Banking Act in respect of its banking transactions other than with non residents and corporations holding a Global Business Licence under the FSD Act 2001.
    • (i) Insurance agent under the Insurance Act except the business in respect of contracts of life insurance entered into prior to 10 January 2003.
    • (ii) Insurance broker under the Insurance Act except the business in respect of contracts of life insurance entered into prior to 1 October 2003.
    • Management services by a holder of a management licence under the Financial Services Development Act 2001 in respect of services supplied other than those supplied to corporations holding a Category 1 Global Business Licence or a Category 2 Global Business Licence under the Act.
    • Services in respect of credit cards issued by companies other than banks to merchants accepting such credit cards as payment for the supply of goods.
    A person who, in addition to his employment, is engaged in any of the businesses or professions specified in (b) or (c) above must also register for VAT.
  3. Submission of monthly /quarterly VAT returns and payment deadline is on the 20th of each month.

Tax Deduction at Source (TDS)

TDS is the tax that the payer is required to deduct at the time of payment is received by the payee. It is also on advance payment of taxes and would thus be offset against the Income tax liabilities of the payee.

Tax deduction at source is subjected to:-

  1. Interest
  2. Royalties
  3. Rent
  4. Payment to providers of services
  5. Payments to contractors & Sub- Contractors

The rates of TDS are as follows:-

 
Rate of Tax
Interest
15%
Royalties:
 
      Resident
10%
      Non- Resident
15%
Rent
5%
Payment to providers of services
3%
Payment to contractors & Sub-Contractors
0.75%