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Audit approach overview
Our audit approach will allow our client's accounting personnel to make the maximum contribution to the audit effort without compromising their ongoing responsibilities
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Annual and short period audit
At P&A Grant Thornton, we provide annual and short period financial statement audit services that go beyond the normal expectations of our clients. We believe strongly that our best work comes from combining outstanding technical expertise, knowledge and ability with exceptional client-focused service.
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Review engagement
A review involves limited investigation with a narrower scope than an audit, and is undertaken for the purpose of providing limited assurance that the management’s representations are in accordance with identified financial reporting standards. Our professionals recognize that in order to conduct a quality financial statement review, it is important to look beyond the accounting entries to the underlying activities and operations that give rise to them.
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Other Related Services
We make it a point to keep our clients abreast of the developments and updates relating to the growing complexities in the accounting world. We offer seminars and trainings on audit- and tax-related matters, such as updates on Accounting Standards, new pronouncements and Bureau of Internal Revenue (BIR) issuances, as well as other developments that affect our clients’ businesses.
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Tax advisory
With our knowledge of tax laws and audit procedures, we help safeguard the substantive and procedural rights of taxpayers and prevent unwarranted assessments.
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Tax compliance
We aim to minimize the impact of taxation, enabling you to maximize your potential savings and to expand your business.
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Corporate services
For clients that want to do business in the Philippines, we assist in determining the appropriate and tax-efficient operating business or investment vehicle and structure to address the objectives of the investor, as well as related incorporation issues.
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Tax education and advocacy
Our advocacy work focuses on clarifying the interpretation of laws and regulations, suggesting measures to increasingly ease tax compliance, and protecting taxpayer’s rights.
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Business risk services
Our business risk services cover a wide range of solutions that assist you in identifying, addressing and monitoring risks in your business. Such solutions include external quality assessments of your Internal Audit activities' conformance with standards as well as evaluating its readiness for such an external assessment.
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Business consulting services
Our business consulting services are aimed at addressing concerns in your operations, processes and systems. Using our extensive knowledge of various industries, we can take a close look at your business processes as we create solutions that can help you mitigate risks to meet your objectives, promote efficiency, and beef up controls.
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Transaction services
Transaction advisory includes all of our services specifically directed at assisting in investment, mergers and acquisitions, and financing transactions between and among businesses, lenders and governments. Such services include, among others, due diligence reviews, project feasibility studies, financial modelling, model audits and valuation.
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Forensic advisory
Our forensic advisory services include assessing your vulnerability to fraud and identifying fraud risk factors, and recommending practical solutions to eliminate the gaps. We also provide investigative services to detect and quantify fraud and corruption and to trace assets and data that may have been lost in a fraud event.
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Cyber advisory
Our focus is to help you identify and manage the cyber risks you might be facing within your organization. Our team can provide detailed, actionable insight that incorporates industry best practices and standards to strengthen your cybersecurity position and help you make informed decisions.
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ProActive Hotline
Providing support in preventing and detecting fraud by creating a safe and secure whistleblowing system to promote integrity and honesty in the organisation.
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Accounting services
At P&A Grant Thornton, we handle accounting services for several companies from a wide range of industries. Our approach is highly flexible. You may opt to outsource all your accounting functions, or pass on to us choice activities.
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Staff augmentation services
We offer Staff Augmentation services where our staff, under the direction and supervision of the company’s officers, perform accounting and accounting-related work.
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Payroll Processing
Payroll processing services are provided by P&A Grant Thornton Outsourcing Inc. More and more companies are beginning to realize the benefits of outsourcing their noncore activities, and the first to be outsourced is usually the payroll function. Payroll is easy to carve out from the rest of the business since it is usually independent of the other activities or functions within the Accounting Department.
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Our values
Grant Thornton prides itself on being a values-driven organisation and we have more than 38,500 people in over 130 countries who are passionately committed to these values.
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Global culture
Our people tell us that our global culture is one of the biggest attractions of a career with Grant Thornton.
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Learning & development
At Grant Thornton we believe learning and development opportunities allow you to perform at your best every day. And when you are at your best, we are the best at serving our clients
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Global talent mobility
One of the biggest attractions of a career with Grant Thornton is the opportunity to work on cross-border projects all over the world.
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Diversity
Diversity helps us meet the demands of a changing world. We value the fact that our people come from all walks of life and that this diversity of experience and perspective makes our organisation stronger as a result.
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In the community
Many Grant Thornton member firms provide a range of inspirational and generous services to the communities they serve.
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Behind the Numbers: People of P&A Grant Thornton
Discover the inspiring stories of the individuals who make up our vibrant community. From seasoned veterans to fresh faces, the Purple Tribe is a diverse team united by a shared passion.
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Fresh Graduates
Fresh Graduates
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Students
Whether you are starting your career as a graduate or school leaver, P&A Grant Thornton can give you a flying start. We are ambitious. Take the fact that we’re the world’s fastest-growing global accountancy organisation. For our people, that means access to a global organisation and the chance to collaborate with more than 40,000 colleagues around the world. And potentially work in different countries and experience other cultures.
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Experienced hires
P&A Grant Thornton offers something you can't find anywhere else. This is the opportunity to develop your ideas and thinking while having your efforts recognised from day one. We value the skills and knowledge you bring to Grant Thornton as an experienced professional and look forward to supporting you as you grow you career with our organisation.
Tax Alerts
Application for PEZA VAT zero rating by email
This Tax Alert is issued to remind all PEZA registered enterprises/ecozone developers/operators (PEZA enterprises) that issuance of VAT Zero rating certifications are to be filed through e-mail to further ease doing business with PEZA.
Revised policies on the execution of waivers
This Tax Alert is issued to inform taxpayers of the revised procedures and policies for the proper execution of waivers from the defense of prescription pursuant to Section 222 of the National Internal Revenue Code (NIRC) of 1997 is revised. The revised policies aim to address rampant practice by taxpayers of contesting the validity of their own waivers after having availed of the benefits thereof.
Disclosure of other income of individuals suspended for 2015
This Tax Alert is issued to inform all concerned that the requirement for individuals to disclose other income is suspended for the 2015 annual income tax return (ITR) due on or before April 15, 2016. Unless further deferred, this will be mandatory for the 2016 ITR (BIR Forms 1700 and 1701). Hence, taxpayers are advised to demand from their payors, and properly document their BIR Form No. 2306 and other pieces of evidence for amount of income and final taxes withheld or paid. Please access the link below for copy of the RMC.
Additional/alternative documentary requirements on application for BIR registration
This Tax Alert is issued to inform all concerned on the updated list of documentary requirements on application for registration of individuals and juridical entities with the BIR. Below are some of the additional or alternative documents prescribed in the amended Annex A of RMC 7-2012.
ATRIGs required before the release of imported automobiles from Customs
All imported automobiles released from customs custody after March 31, 2016 without required Authority to Release Imported Goods (ATRIGs) may be detained, and if warranted, shall be subject to seizure. In the transition, those that were released without securing ATRIGs may still apply until March 31, 2016 with the Excise LT Regulatory Division (ELTRD) and pay any unpaid excise tax and VAT, subject to 50% surcharge and 20% interest for late payment. An ATRIG is an authority issued by the BIR, addressed to the Commissioner of Customs, allowing the release of imported goods from customs custody upon payment of applicable taxes, or proof of exemption from payment thereof, whichever is applicable.
Availability of version 6.0 of eBIRForms package and other reminders
The latest version may be downloaded from the following sites: 1. www.knowyourtaxes.ph; 2. www.dof.gov.ph 3. Dropbox using this link: http://goo.gl/UCr8XS; 4. Direct link: http://ftp.pregi.net/bir/ebirforms_package_v6.0.zip; or 5. www.bir.gov.ph Modification of the new package includes: a. one-click submission of Tax Returns; and b. reduced package size for easier downloading Filing procedures: 1. eFPS Taxpayers a. annual income tax returns and excise tax returns: prepare using the offline package and submit to eFPS by clicking the SUBMIT/FINAL COPY button. b. other returns: file using the online eFPS. Payments shall be made online through eFPS facility. 2. Non-eFPS Taxpayers: tax returns shall be prepared thrugh eBIRForms, printed and payment be made through Authorized Agent Banks (AABs), Revenue Collection Officer (RCOs), or GCASH 3. Schedules and manual attachments, duly signed printed efiled return and printed system-generated confirmation receipt shall be shall be submitted by the taxpayer within 15 days after filing of the return to the concerned LT Office/RDO. 4. Summary Alphalist of Withholding Tax (SAWT) shall be emailed to esubmission@bir.gov.ph
Protocol amending RP- New Zealand tax treaty
The definition of "royalties" under Article 12 has also been expanded to cover the supply of any assistance that is ancillary and subsidiary to, and is furnished as a means of enabling the application or enjoyment of, the property or right, equipment, or knowledge/information. In case of transfer pricing adjustments in one jurisdiction, Article 9 on Associated Enterprises now provides for appropriate adjustment to the amount of the tax charged in other jurisdiction, subject to certain conditions. New Zealand resident income earner or an authorized representative should file a duly accomplished BIR Form No. 0901 (Application for Relief from Double Taxation) together with required documents to the International Tax Affairs Division (ITAD) National Office to effect the treaty rates.
BOA Resolution No. 3 requiring an accredited CPA to certify the preparation of FS
The BIR circularized Board of Accountancy (BOA) Resolution No. 3, s of 2016 entitled “Requiring…..”. Among others, the Resolution requires that annual FS of companies who have gross sales exceeding P10 million should be accompanied by a “Certificate on the Preparation of Financial Statement and Notes to the Financial Statements”.
AABs open on March 19 and April 02 to accept tax payments
Authorized Agent Banks (AABs) will observe regular banking days on March 19 and April 02 for purposes of accepting tax payments. This is in lieu of March 26 and April 9 which are non-working holidays (Black Saturday and Araw ng Kagitingan),
Amended RP-Germany DTA lowered preferential rates for dividends, interests, and royalties
The RP-Germany Double Taxation Agreement (DTA) signed in 1983 has been renegotiated to take effect beginning January 1, 2016. The renegotiation lowered certain treaty rates as follows: