Maintaining the business with consulting firms

Accountancy firms, as the name suggests, provide help and services to other business in maintaining their accounts. The lack of proper accounting is presumably an illicit activity, and if there are not proper accounting standards followed in the business the outcome could be either like Enron, the famous company that went from being the most innovative company to declaring bankruptcy. A more recent and relatable incident for the Pakistani economy is legal notices being sent to the taxi services of Uber and Careem in Pakistan. These companies have been alleged to be running their services without proper registration, which had led to a massive accountancy question on their incomes, because of improper taxation. This is why it is important for business to have proper accounting standards within the organization. As both Careem and Uber were not founded in Pakistan and moved into Pakistani market, for their business. There was not proper registration of their business, as from legal stand point of view they are picking up people and dropping them, and are charging their customers, there is a contract taking place between the parties, that customer and the company, so these business must also pay taxes that apply to their business activity.

If these businesses would have taken proper consulting from legal consulting firms, these notice that are sent would never have been typed in the first place, because the legal consulting firm would have guided them with proper business registration and legal requirements that are in Pakistan. As result their services and business integrity would have stayed intact. This is why Sayub & co. is providing both consulting and accountancy services. For business who are looking for consulting firms, and accountancy firms, to avoid any incident, like one that happened with careem and Uber, should contact Sayub & co. We will provide your business with the proper and legal guidance which will help you maintain your compliance of the business. Moreover, with our experts on the help your managers will be able to understand the dynamic market of Pakistan, and prepare in advance for the future. For more help contact today.