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Tax advisory & planning
in the Philippines.

If you are seeking to maximise your taxes or expand your business aboard, we can help you with that by providing a substantial tax planning strategy.

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Tax advisory & planning in Singapore

Reduce your taxes & boost business profitability.

Your tax system optimised

We will help you minimise your tax liabilities in the Philippines by optimising your current tax structure, including tax health check, identifying and mitigating tax inefficiencies and leaks, eliminating the risk of double taxation and more.

Identifying new opportunities

We can assist you in getting back any money you might have been unknowingly giving to the government by maximising the tax concessions, cash repatriation an incentives system.

Strategic tax planning

Our tax team will advise businesses that are making significant transactions or arranging to expand to other markets in Asia by providing tax guidance on executing them tax-efficiently.

Corporate & personal tax advisory

Our tax advisory services.

Corporate tax.

  • Corporate tax advisory

    Our tax team will keep you up to date with the Philippines tax rules and regulations. Our corporate tax services include:

    • Providing advice on the most efficient way for a company to be set up, including the shareholding structure
    • Analysis of tax implications of a transaction the company is considering
    • Advice on withholding tax whether it is necessary for offshore payments
    • Advice on VAT classification and whether a specific good or service is taxable, non-taxable or zero-rated
    • Guidance on tax incentives the company is entitled to and assistance with applying for those incentives
    • Advice and guidance for claiming double tax treaty benefits in other jurisdictions

  • Transfer pricing advisory

    If your business is related in importing or exporting products, we can provide you with a transfer pricing guide. This report will help you identify transfer pricing rules and the direction of pricing your goods and services, and also a comparison of other transactions made in the market.

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Single time- or project-based fee

Personal tax.

  • Personal tax advisory & planning

    We will help you identify your tax reliefs and deductions. Our personal tax services include:

    • Advice on objections and appeals to income tax assessments
    • Structure remuneration packages in a tax-effective manner
    • Tax implications of all types on income and share incentives received

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FAQ

Common questions & answers.

Do I have to submit audited accounts?
The vast majority of companies in the Philippines are required to prepare the Annual Financial Statement that must then be audited by a qualified and idependent auditor. This audited Annual Financial Statement must be filed with both the BIR and the SEC every year.
Do I need to register for VAT?
It is compulsory for businesses to come forward to register for VAT when their taxable turnover exceeds PHP 3m per year. Businesses that do not exceed PHP 3m in taxable turnover may register for VAT voluntarily. There are some exemptions for e.g. exporting companies. Ask Acclime’s experts for advice.
Why do I need record keeping for my company?

In addition to being required by BIR and SEC to keep proper records and accounts of business transactions, record-keeping also lets you gain insights into how your business is performing. It allows you to see which products or services are profitable and what changes you can apply. Having good records also makes preparation of financial statements easy and accurate, resulting in efficient and on-time tax returns filing.

What is cloud accounting? Can I use it?
Cloud accounting is a new method of accessing your accounting software from any web browser. It is different from a traditional accounting software where you need to install the application on your desktop hard drive. Cloud accounting lets you log in to your records anytime, anywhere. It can help improve your bookkeeping efficiency, streamline your financial processes, and provide real-time and secure access to your financial data.
How can I change accountants?

Changing accountant is a simple and straightforward process. First, you find and engage a new accountant through a formal latter that also states agreement for services. When all has been agreed upon, you need to inform your existing accountant about your intentions of changing to a new one. Your new accountant may also issue a notice of takeover. Both parties will proceed to courier of files and information from your existing accountant to a new one. You will be set up in your new accountant’s system, and the takeover is finalised and closed.

What is the difference between a bookkeeper and an accountant?

A bookkeeper is tasked with recording a company’s financial information, while an accountant is to analyse and develop insightful reports out of the data. A bookkeeper’s job is transactional and administrative where it involves handling of the daily tasks of recording purchases, receipts, sales, payments, and other financial transactions. On the other hand, an accountant’s job is subjective, where it involves providing financial insights that are based on the bookkeeper’s recorded data.

What is a financial statement?

A financial statement is a document that shows a company’s business activities and financial standing. It is audited by government agencies, accountants, and business partners for purposes of accuracy, tax, financing, and investment.

A financial statement is comprised of three main parts. An income statement or profit and loss statement that indicates how much profit or loss a company has incurred. A balance sheet or statement of financial position that shows a company’s assets, liabilities, and shareholder’s equity. And a cash flow statement that provides information as to how a company generates cash to fund activities, investments, and debt obligations

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Make running your business in the Philippines easier with our reliable tax services.

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Schedule a free 30-minute discovery call to discuss starting & operating your company in the Philippines.

Marla Aquino Batallones, Operations Director
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