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Pre- and post-bid tax services for an oil exploration contract

Engagement: The company had to bid for an oil exploration contract which was in the nature of an EPC (Engineering, Procurement and Construction) contract.

Our team offered pre- and post-bid services with respect to various tax matters. We provided end-to-end support for the said contract, which included drafting, structuring and review of the contract from a taxation perspective and suggesting changes thereof. We also helped them in identifying key issues in the contract and advised on tax optimisation. Our team also prepared a tax cost sheet for the company, which included a review of the tax implications on the EPC contract with respect to the following:

  • Income tax
  • Central excise duty
  • Customs duty
  • Sales tax/Value added tax
  • Service tax
  • Foreign exchange regulations