Tax Advisory & Compliance

Despite constant changes in tax policies, your partners at P&A will keep you right on track and…

…help you pay proper taxes on schedule.

You realize that you may not have the time, resources or expertise to keep up with the constant changes. You either give up or try to do it yourself, so you risk paying late or even paying much more than you ought to.

We're here to help. Our tax specialists have the mastery when it comes to Philippine tax laws and regulations, and we have the right resources to keep up with developments in the local arena. We sound the alarm on payment deadlines and advise you on tax matters that greatly affect your business. We take time to explain the nitty-gritty so you fully appreciate tax savings you avail of as we go along.

As value-added service, we ensure that our clients are updated on the latest tax and business-related regulations and rulings through our monthly “Tax Brief&rdq uo; publication and the “Tax Alerts” on important and urgent issues and compliance requirements.  Our tax partners, managers, and staff can be readily accessed by phone or electronic mail on simple queries at no additional charge.

P&A is known to deliver in these areas:

TAX ADVISORY

Tax opinion and studies

We conduct tax studies and provide advice to clients on the tax implications of specific transactions or issues confronting the company based on relevant laws, regulations, court decisions, rulings and the first-hand experiences of our tax consultants.

Assistance during tax audit / Contesting an assessment

We assist clients in handling audits by the Bureau of Internal Revenue (BIR), Bureau of Customs (BOC) and local government units (LGUS) in a systematic and efficient manner.  We help evaluate the validity of assessments, determine the appropriate documents and analysis to submit, prepare protests, and represent the client in meetins and discussion with the government agencies.  With our knowledge of the tax laws and audit procedures, we help safeguard the substantive and procedural rights of taxpayers and prevent unwarranted assessments.

Application for tax refund / Credit

We help clients recover taxes that have been erroneously or excessively paid or withheld through applications for tax refund or credit certificate certificates (TCCs).  Applications for refunds or TCCs are recommended for companies that have excess income taxes paid,  unutilized creditable withholding taxes  as reflected in the final income tax return (ITR), excess/unutilized VAT input taxes arising from zero-rated transactions or change in VAT status, unutilized advanced VAT, excise taxes paid on petroleum products sold to tax-exempt entities and international carriers, other national or local taxes erroneously or excessively paid, or penalties imposed without authority.

Request for tax rulings

We facilitate requests for ruling to confirm the proper tax treatment of certain structures and transactions.  Requests for rulings are generally required in the case of tax-free exchange of assets for shares of stocks, application of preferential rates of withholding taxes on income payments to non-resident foreign corporations pursuant to tax treaties, entitlement to tax exemption under Section 30 of the Tax Code and other transactions or income that are not clearly provided in the laws and regulations.

Tax planning

We provide expert analysis of the tax situation of clients and make available to them a variety of tax strategies that will minimize their tax risk/exposure, and result in least cost compliance with tax laws.  Our services in this area include estate tax planning, and identification of the most tax efficient investment route, corporate and finance structures, and transaction schemes.

Transfer pricing

We provide comprehensive transfer pricing solutions suited to the needs of the client.  We handle transfer pricing audit defense on behalf of the client, and conduct transfe pricing risk assessment, planning, and benchmark analysis.  We can assist a company in selecting the appropriate transfer pricing method, defending transfer pricing policies, and negotiating Advance Pricing Agreements (APAs) with the tax authorities.

Retainer services as tax consultant

As a tax consultant, we will make our tax professionals available anytime, whether by telephone or electronic mail, to render consultation and advice on various tax matters and tax issues affecting client companies' ope rations without requiring the conduct of extensive research and studies.

Corporate organization and restructuring

P&A assists in formulating and implementing  the appropriate and tax efficient corporate form, investment vehicle and other arrangements whether for companies that are newly organizing or that are simply restructuring.  We can help set-up and register clients' business with the regulatory agencies.  We can facilitate availment of incentives under the BOI, PEZA and other incentive laws.  Certain activities and change in company status also require approval of or notification of the regulatory agencies.

TAX COMPLIANCE

Tax due diligence / Tax compliance review

We evaluate companies' compliance with existing laws and regulations, caution them on procedures and practices which expose their firms to potential tax liabilities and penalties, and advise them on alternative tax efficient schemes.  Tax due diligence review is particularly recommended for companies which are contemplating expansion, mergers and consolidation, change in ownership or public listing.

Tax return preparation and filing

We prepare clients' tax returns covering their quarterly and annual income taxes, value-added tax and other percentage taxes, fringe benefits tax, withholding taxes, and documentary stamp tax.  Based on the information provided to us, we ensure that the computation of the client's tax liability is made in accordance with existing tax laws and regulations,  We file, on their behalf, the tax returns with the appropriate tax office and pay the corresponding taxes on or before the due date.

Expatriate tax services

We ensure the proper and efficient compliance of expatriates with their Philippine income tax obligations.  These include registration and application for TIN and preparation and  filing of annual Philippine income tax return and payment of the tax due in the proper venue and within the allowed period.  As a value-added service, we respond to Correspondence  Audits / Inquiries by the BIR where the information thereon is manifest in the return and the underlying compensation information.  We can also conduct arrival or departure briefings and interviews to apprise the expatriate of his Philippine tax liabilities.  Upon the company’s request, we can compute on an annualized basis, the total withholding tax due from the expatriate during the taxable year and prepare tax equalization and reimbursement calculations in accordance with company policies.

CTA litigation support

To avoid prolonged trials, we offer independent verification of financial and other pertinent documents that are presented as evidence in tax cases/disputes or claims for refund before the Court of Tax Appeals (CTA).  This involves an evaluation of the completeness and validity of the documents and the correctness of the amounts involved based on the requiremen ts prvided under the laws and regulations.

Customs compliance review

We assess adherence of companies to customs and tax laws, rules and regulations in relation to their importation of goods.  We help  clients ide ntify the areas where potential tax and duty cost-saving opportunities exist.  We assist clients in evaluating and restructuring their record-keeping policies and practices to pr operly comply with the requirements under the laws and regulations and to minimize tax exposures.

Tax seminars and trainings

We organize Tax Seminars / Training on tax-related developments and special issues of interest to taxpayers.  Customized training can be c onducted for requesting clients.