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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…
The Bureau of Internal Revenue (BIR) has issued Revenue Regulation (RR) No. 8-2022 to inform all concerned regarding the implementation of the required issuance of electronic receipts or invoices in lieu of manual receipts or invoices for certain identified taxpayers.
Issuance of electronic receipts or invoices is mandated for the following taxpayers:
- Taxpayers engaged in the export of goods and services;
- Taxpayers engaged in electronic commerce (e-commerce); and
- Taxpayers under the Large Taxpayers Service (LTS).
The abovementioned taxpayers, except those engaged in e-commerce, shall electronically report or transmit their sales data to the BIR using their Sales Data Transmission System. All covered taxpayers are required to:
- Develop a Sales Data Transmission System based on the Standard Application Programming lnterface Guidelines;
- Enroll prior to actual transmission of sales data to the Electronic lnvoicing/Receipting System (ElS) for security purposes;
- Secure a Certification of the Sales Data Transmission System from the BIR through the ElS. The BIR will conduct an online verification if the system is compliant with BIR requirements;
- Submit an application for the issuance of Permit to Transmit (PTT) in order to allow the transmission of sales data to the ElS. Sales reporting shall be done immediately for transactions on the day following the issuance of the PTT; and,
- Transmit sales data in real time or near real time provided that it should be done within three (3) calendar days from the date of the transaction.
A corresponding penalty shall be imposed for delayed, late, or no transmission of sales data to the ElS. Invoicing requirements under the Tax Code, as amended, shall be satisfied relative to the issuance of electronic receipts or invoices.
An issuance will be released by the BIR to provide further guidance on how to apply for and comply with the EIS.
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 15 July 2022