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Audit approach overview
Our audit approach will allow our client's accounting personnel to make the maximum contribution to…
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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…
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Review engagement
A review involves limited investigation with a narrower scope than an audit, and is undertaken…
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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…
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Tax advisory
With our knowledge of tax laws and audit procedures, we help safeguard the substantive and procedural…
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Tax compliance
We aim to minimize the impact of taxation, enabling you to maximize your potential savings and to…
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Corporate services
For clients that want to do business in the Philippines, we assist in determining the appropriate and…
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Tax education and advocacy
Our advocacy work focuses on clarifying the interpretation of laws and regulations, suggesting…
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Business risk services
Our business risk services cover a wide range of solutions that assist you in identifying, addressing and…
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Business consulting services
Our business consulting services are aimed at addressing concerns in your operations, processes and…
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Transaction services
Transaction advisory includes all of our services specifically directed at assisting in investment, mergers…
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Forensic advisory
Our forensic advisory services include assessing your vulnerability to fraud and identifying fraud risk…
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Cyber advisory
Our focus is to help you identify and manage the cyber risks you might be facing within your…
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ProActive Hotline
Providing support in preventing and detecting fraud by creating a safe and secure whistleblowing system…
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Accounting services
At P&A Grant Thornton, we handle accounting services for several companies from a wide range of…
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Staff augmentation services
We offer Staff Augmentation services where our staff, under the direction and supervision of the company’s…
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Payroll Processing
Payroll processing services are provided by P&A Grant Thornton Outsourcing Inc. More and more…
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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…
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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…
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Learning & development
At Grant Thornton we believe learning and development opportunities allow you to perform…
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Global talent mobility
One of the biggest attractions of a career with Grant Thornton is the opportunity to work on…
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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…
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In the community
Many Grant Thornton member firms provide a range of inspirational and generous services to the…
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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…
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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…
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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…
As tax filing season draws near, the Bureau of Internal Revenue (BIR) has released Revenue Memorandum Circular (RMC) Nos. 22, 23, and 25-2024 to facilitate taxpayers’ ease of compliance.
Availability of a new version of BIR Forms 1702-EX and 1701A
As applicable, all eFPS filers are mandated to use the latest version of BIR Form No. 1702-EX for corporations, partnerships, and other non-individual taxpayers exempt under the Tax Code and other special laws, and BIR Form No. 1701A for individuals earning purely from business/profession, whether under the graduated income tax rate or the 8% flat income tax rate.
The deadline for filing BIR Form No. 1702-EX and BIR Form No. 1701A is on the 15th day of the 4th month following the close of the taxpayer’s taxable year (e.g., April 15, 2024, for taxpayers with a calendar year ending December 31, 2023).
The BIR has yet to release an announcement for the new version of BIR Forms No. 1702-RT and 1702-MX.
Extension of deadline for submitting the alphabetical list (alphalist) of employees
With the release of the latest version of Alphalist Data Entry and Validation Module Version 7.2, the deadline for submission of the alphalist of employees was extended until March 17, 2024, which is 30 days from the date of posting the BIR advisory on its website. However, since March 17 falls on a Sunday, the deadline for the submission will be on March 18, Monday. Prior to this announcement, the BIR first extended the deadline until February 28, 2024, through RMC No. 16-2024.
Changes highlighted in the latest version of the alphalist are the inclusion of the 5% tax credit incentive under the Personal Equity and Retirement Account (PERA) Act of 2008 and the revised income tax rates effective January 1, 2023, under Republic Act No. 10963, or the Tax Reform for Acceleration and Inclusion (TRAIN) Law.
Taxpayers who have submitted using the previous version of the alphalist module shall resubmit the same using the updated version. On the other hand, taxpayers using their own extract program for the alphalist shall strictly observe the revised file structures and standard naming convention as provided in the annexes of RMC No. 25-2024.
Please be guided accordingly.
Source:
P&A Grant Thornton
Certified Public Accountants
P&A Grant Thornton is the Philippine member firm of Grant Thornton International Ltd
As published in SunStar Cebu, dated 04 March 2024