Global site
Africa
Americas
Asia Pacific
Europe
Middle East

Services

Japan Desk

We deliver value-added audit and assurance services to our clients, helping them manage their fiscal responsibilities with prudence and foresight.

See Overview

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
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.
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.
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.

Tax Advisory and Compliance

We help you identify the opportunities and pitfalls that can significantly affect your...

See Overview

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.
Tax compliance
We aim to minimize the impact of taxation, enabling you to maximize your potential savings and to expand your business.
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.
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.

Advisory Services

We believe there is an optimal solution to every business challenge. Using our Firm's breadth and depth of specialized expertise, we work with you to find...

See Overview

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.
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.
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.
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.
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.
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.

Business Process Solutions

We provide solid, first-rate support for your key accounting and administrative activities, such as outsourced accounting, payroll, and accounting-related...

See Overview

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.
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.
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.

Japan Desk

See Overview

Careers

FAQs

Careers

With our unique culture and opportunities, our organisation is a place where you can grow. Wherever you are in your career, we help you to make a difference...

See Overview

Why Grant Thornton is a great place to work

We value each of the 50,000 people in our member firms equally and appreciate every contribution across Grant Thornton.

See Overview

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.
Global culture
Our people tell us that our global culture is one of the biggest attractions of a career with Grant Thornton.
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
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.
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.
In the community
Many Grant Thornton member firms provide a range of inspirational and generous services to the communities they serve.
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.

Opportunities

If you wish to develop your talents to the fullest and build a fulfilling career, join P&A Grant Thornton, where you will be part of a dynamic...

See Overview

Fresh Graduates
Fresh Graduates
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.
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.

FAQs

If you would like to join Grant Thornton, you may have a few questions about our organisation, how we do business, our culture and our global opportunities....

See Overview

Industries

By ensuring that our clients are matched with professionals most familiar with their industry, P&A Grant Thornton aims to provide a seamless onboarding...

See Overview

Consumer products

Emerging markets and shifting consumer demand are creating new opportunities in food and beverage, with business leaders investing in new products, markets,...

See Overview

Education

Our vision is to help learning institutions and business organisations go beyond and create powerful learning cultures through technology integration,...

See Overview

Energy and natural resources

Energy markets worldwide are undergoing major changes. P&A Grant Thornton can help you understand and navigate ensuing challenges and make sure you have the...

See Overview

Financial services

Optimism is slowly returning to the global economy, but the financial services industry needs to regain the trust of public and private bodies. To truly go...

See Overview

Not for profit

Across the globe, not for profit organisations are increasingly expected to deliver more, while at the same time facing cuts in government funding and...

See Overview

Outsourcing

The outsourcing industry is one of the fastest growing sectors in the Philippines. Growth in the industry is at an annual average rate of 20%. The industry is...

See Overview

Public sector

Across the globe, countries are moving towards leaner, more commercial, locally focused, and responsive government and public sectors. At P&A Grant Thornton,...

See Overview

Real estate and construction

Opportunity and optimism have emerged within the retail estate and construction industry. At P&A Grant Thornton, it’s our goal to help you benefit from these...

See Overview

Technology, media and communications

At P&A Grant Thornton, we’ll work with you to capitalise on all opportunities, manage the inherent risks the industry has to offer, and provide relevant...

See Overview

Travel, tourism and leisure

Dynamic businesses need to move with speed and purpose if they want to capitalise on opportunities in hospitality and tourism. At P&A Grant Thornton, we know...

See Overview

Retail industry

With operational cost, price competition, and currency volatility, pressure on profits continues to pile on retailers. Advancements in e-commerce are also...

See Overview

Tax Notes

Mandatory Registration of Persons Engaged in Online Trade or Business

11 Sep 20243 min read

Contents

The global economy has undergone a rapid digital transformation, with more transactions shifting the venue from physical stores to online platforms. As e-commerce continues to rise, authorities must keep pace to ensure that laws and regulations are updated and capable of addressing the complexities of the digital economy.

In line with this, the Internet Transactions Act of 2023 was enacted, which stipulates, among other things, that individuals and entities engaged in online trade and business must observe and comply with the policies, laws, and regulations of the countries where their products are marketed. This includes mandatory registration with the Bureau of Internal Revenue (BIR), filing of appropriate tax returns, and payment of taxes.

On August 15, 2024, the BIR issued Revenue Regulations No. 15-2024 to prescribe guidelines, procedures, and requirements for the implementation of the mandatory registration of persons engaged in business, including physical retail establishments (“brick-and-mortar stores”) and online trade or business. The salient provisions are provided below.

Registration requirement

A person with an online presence or online store for its brick-and-mortar store must register its store as an additional business name attached to the head office or branch and shall not be registered as a branch.

If a person is engaged in the sale or lease of goods or services through a website or application who does not have a brick-and-mortar store, the business must be registered at the BIR district office having jurisdiction over the place of residence for individuals or the principal place of business registered with Securities and Exchange Commission (SEC) for juridical entities.

Posting of Certificate of Registration (COR)

If the person operates a business through a website, or any digital means, an electronic copy of the BIR COR/eCOR on the person’s website, webpage, account, page, platform, or application is required. The BIR COR/eCOR must always be easily accessible and visible to the customers visiting the website, webpage, account, page, platform, or application.

Responsibility of Operators of Digital Platforms

It is the responsibility of operators of digital platforms and e-marketplace platforms to ensure that all their online sellers or merchants are duly registered with the BIR. Otherwise, this may be construed as an act of aiding or abetting in the commission of the offense.

Penalties

The BIR has the authority to issue Closure/Take Down Order, which may span to not less than five (5) days, should any covered person doing business in the Philippines fail to register. This Order does not preclude the BIR from filing appropriate charges, if evidence so warrants.

The Closure/Take Down Order shall only be lifted once the BIR has validated that the violations stated in the Order have been rectified and the person concerned has already complied with all the requirements as may be prescribed by the Commissioner.

Other penalties are as follows:

P1,000 for late registration
P1,000 per business name or store name for failure to register business name or store name
P1,000 for every violation per business name or store name for failure to post BIR COR/eCOR on the place of business, website, webpage, account, or online platform
P20,000 for each branch/store/establishment for lessors/digital platform/e-marketplace operators in allowing lessees or online sellers/merchants to use to engage in business the premises or digital platform without BIR registration
P20,000 for failure to obey or comply with Closure/Takedown Order
P5,000 to P50,000 depending on the classification of taxpayer for failure to register head office or branch

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 11 September 2024