Services
We deliver value-added audit and assurance services to our clients, helping them manage their fiscal responsibilities with prudence and foresight.
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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.
We help you identify the opportunities and pitfalls that can significantly affect your...
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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.
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...
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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.
We provide solid, first-rate support for your key accounting and administrative activities, such as outsourced accounting, payroll, and accounting-related...
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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.
Japan Desk
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We value each of the 50,000 people in our member firms equally and appreciate every contribution across Grant Thornton.
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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.
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...
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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.
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....
By ensuring that our clients are matched with professionals most familiar with their industry, P&A Grant Thornton aims to provide a seamless onboarding...
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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...
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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...
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...
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Clarifications on the Filing of Monthly Documentary Stamp Tax Declaration by Electronic Documentary Stamp Tax (eDST) Taxpayers using BIR Form No. 2000 v 2018
03 Oct 2024
(Revenue Memorandum Circular No. 95-2024, August 29, 2024)
This Tax Alert is issued to inform all the concerned of the clarifications on the issues and concerns raised by the taxpayers who are using the eDST System and who are filing the BIR Form No. 2000 v2018 thru the electronic Filing and Payment System (eFPS) pursuant to Revenue Memorandum Circular (RMC) No. 48-2024.
The BIR clarified that the filing of BIR Form No. 2000, when used as declaration for taxable transactions in computing total DST due, is a compliance requirement as a tax return and it is not being used in paying total DST due. Hence, penalties on late payment of DST should not apply as the DST was already paid in advance in the form of deposit.
Below are the specific issues and clarifications provided by the BIR on the filing of Documentary Stamp Tax Declaration by eDST Taxpayers using BIR Form No. 2000 v2018:
| Issue | Clarification | |
| 1 | Additional requirement of filing BIR Form No. 2000 for declaring the total DST due for the month considering that these taxable transactions are already encoded in the taxpayer’s ledger of the eDST System as utilizations from their advance deposits | The filing of BIR Form 2000 for remittance of advance deposits by taxpayers-users of eDST system, is not yet a return, but as a payment form. Due to certain limitations of the current format of BIR Form No. 2000 v2018, the same form shall still be used separately in declaring the taxable transactions in the computation of the total DST due of these taxpayers-users, pending the revision of the said form. |
| 2 | Sudden suspension of encoding the transactions in Schedule 1 (Summary of Computation of Taxes Due for the Month) of the said form due to voluminous transactions. Thus, the taxpayers/users are compelled to terminate the encoding process and the previously encoded transactions are lost. | For purposes of addressing the technical limitations of the eFPS in accomplishing Schedule 1 of the form involving voluminous transactions, the encoding of Alphanumeric Tax Code (ATC) No. 010 and the amount under the “Tax Due” column equivalent to the total tax due for the month reflected in the taxpayer’s ledger of said system shall be sufficient. |
| 3 | Inability to generate the form or delay in filing the declaration within the prescribed deadline (five (5) days after the close of taxable month) by reason of several attempts to accomplish Schedule 1 and generate the form. Consequently, penalties are automatically computed due to late filing of the form. | The taxpayer-user cannot be held liable for penalties computed by the eFPS because the DST dues were already paid in advance in the form of deposit and the utilizations thereof can be validated from the eDST system. Considering that the current eFPS cannot distinguish whether the said form is being filed as a tax return or as a declaration, the corresponding amount for compromise penalty for late filing of the said form as a declaration shall be the only penalty of the eDST user. |
| 4 | The total penalty computed by eFPS is based on the total tax due which is a very significant amount on the part of the taxpayers as it is not proportion of filing of a simple declaration within the prescribed deadline. | The compromise penalties resulting from non-filing or late filing by eDST taxpayers-users of the said form as declaration covering previous taxable months from the date of issuance of RMC No. 48-2024 shall no longer be assessed and collected. |
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