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.
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.
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.
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.
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.
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.
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