Correct planning for correct payment
All businesses and professionals must engage in accounting for their taxes, even tax-exempt ones because tax-related accounting traces sources of income as well as payments and expenses. Taxation regulations vary between countries; in the Philippines, the National Internal Revenue Code as enforced by the Bureau of Internal Revenue (BIR) is the standard to be complied with.
Our tax services team provides solutions that help businesses make sure that their tax payment adheres to official Philippine standards, and pinpoints opportunities and potential problems that can make or break a business’s profitability.
Up to date, correct filing and payment
Filing and paying taxes can be a complicated process during the entire lifecycle of a business because of the multiple forms to be filled out and the year-round deadlines to be met. Tax regulations are also constantly changing, and it can be challenging for a business—new or smaller ones, in particular—to keep track of these changes alongside its day-to-day operations. Failure to keep up or paying according to outdated regulations may result in costly fines.
As accountants, it is our tax services team’s mandate to keep abreast of all the latest developments in tax regulations to help businesses file and pay correctly and on time, every time.
Paying efficiently with planning
Businesses and professionals may be unaware of tax breaks and other deductions that may be able to ease their tax burden. Our tax services team helps businesses find these tax breaks and other legal ways to reduce their taxes, as well as to make sure that adequate funds are set aside for each taxation period throughout the year.
Tax planning may also include assistance in the management of a business’s finances in such a way as to include tax payment vis-a-vis expenses and profit, to make sure that the tax burden does not become too great.