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Annual and short period audit
We perform audit engagements in accordance with the Philippine Standards on Auditing (PSA), as required by required by national legislation or other regulations of agencies such as the Bureau of Internal Revenue (BIR), Securities and Exchange Commission (SEC), Bangko Sentral ng Pilipinas (BSP), Insurance Commission (IC), Cooperative Development Authority (CDA), etc.
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Review engagement
We provide a limited or moderate level of assurance that financial statements are free from material misstatements, in accordance with the Philippine Standard on Review Engagements (PSRE).
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Financial statements compilation
We help in the preparation of financial statements of clients in accordance with Philippine Standard on Related Services (PSRS) 4410.
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Security offerings services
We provide assurance services for our clients’ debt and equity security offerings. These include audits or reviews of financial statements, examination of prospectuses, and issuance of comfort letters as required.
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Agreed-upon procedures
We perform agreed-upon procedures in accordance with applicable professional standards, delivering factual findings reports tailored to the specific needs of our clients and relevant third parties. Our services include asset and inventory count observations, financial statement translations, and assistance with regulatory applications such as capital stock increases and debt-to-equity conversions.
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Other related services
We help our clients stay ahead of the evolving complexities in the accounting landscape. Our offerings include training programs, transition and implementation planning, and impact assessments related to newly adopted accounting standards, such as Philippine Financial Reporting Standards (PFRS Accounting Standards) and other relevant frameworks.
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Tax advisory
With our knowledge of tax laws and regulations, we help safeguard the substantive and procedural rights of taxpayers and prevent unwarranted assessments.
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Tax compliance
We aim to minimise the impact of taxation, enabling you to maximise your potential savings and to expand your business.
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Transfer pricing
We provide comprehensive Transfer Pricing (TP) solutions suited to the needs of the client.
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Corporate services
For clients who want to do business in the Philippines, we help set up the business and assist in determining the appropriate and tax-efficient operating business or investment vehicle.
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Tax education and advocacy
We offer seminars and trainings on tax-related developments and special issues of interest to taxpayers.
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Business risk services
We cover a wide range of solutions that help you identify, address, and monitor the risks of your business.
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Business consulting services
We help organisations improve their operational performance, efficiency, sustainability, and effectiveness in today’s dynamic business landscape.
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Transaction services
We help organisations provide strategic advice and support throughout the transaction process and provide financial reporting advisory services to help companies successfully navigate the complex financial requirements in a broad range of scenarios.
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Forensic advisory
We provide support to organisations on dispute resolution, fraud prevention and detection, insurance claims, and other situations requiring detailed investigations.
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ProActive Hotline
We empower organisations to uphold integrity through safe and anonymous reporting.
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Sustainability
We promote responsible and innovative practices that reduce our environmental footprint, promote social responsibility, and ensure long-term economic viability
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P&A Academy
P&A Grant Thornton's unwavering commitment to relevance extends to its learning arm - P&A Academy.
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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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Payroll Services
We streamline payroll operations with secure, technology-driven solutions that enhance accuracy, ensure compliance, and free organisations to focus on strategic priorities.
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Human Capital Outsourcing Services
We deliver highly trainable and experienced accounting professionals matched to client requirements, covering center and attrition management, and special projects.
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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.
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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.
Tax exemption for importing health care supplies and equipment, Revenue Regulations No. .....
14 Apr 2020THE Bureau of Internal Revenue (BIR) has issued Revenue Regulations 6-2020, which implements the tax exemption provision in Republic Act (RA) 11469, known as “Bayanihan to Heal as One Act.” Section 2, Paragraph (o) of RA 11469 states that the President has the power to:
Liberalize the grant of incentives for the manufacture or importation of critical or needed equipment or supplies for the carrying-out of the policy declared herein, including healthcare equipment and supplies: Provided, that importation of these equipment and supplies shall be exempt from import duties, taxes and other fees;
In line with this, the BIR has declared the following:
(a) Exemption from value-added tax, excise tax and other fees on importing critical or needed health care equipment or supplies intended to combat the Covid-19 public health emergency, including:
a. Personal Protective Equipment (i.e., gloves, gowns, masks, goggles, face shields, surgical equipment and supplies)
b. Laboratory equipment and its reagents
c. Medical equipment and devices
d. Support and maintenance for laboratory and medical equipment, surgical equipment and supplies
e. Medical supplies, tools and consumables (i.e., alcohol, sanitizers, tissue, thermometers, hand soap, detergent, sodium hydrochloride, cleaning materials, povidone iodine and common medicine (e.g., paracetamol tablet and suspension, mefenamic acid, vitamin tablets and suspension, hyoscine tablet and suspension, oral rehydration solution and cetirizine tablet and suspension)
f. Testing kits
g. Other supplies and equipment determined by the Department of Health and other relevant government agencies
(b) Exemption from value-added tax, excise tax and other fees on importing materials needed to make health equipment and supplies deemed critical or needed to address the current public health emergency, provided that the importing manufacturer is included in the Master List of the Department of Trade and Industry and other incentive-granting bodies.
(c) Importation of exempted health care supplies and equipment shall not be subject to the issuance of the Authority to Release Imported Goods (ATRIG) under Revenue Memorandum Order (RMO) 35-2002. Therefore, the exempted goods shall be released by the Bureau of Customs (BOC) even without the ATRIG. However, importers listed by the BOC shall be subject to a post-investigation/audit by the BIR.
(d) Exemption from donor’s tax of donations of the imported exempted health care supplies or equipment to and for the use of the National Government or any entity created by any of its agencies that is not conducted for profit or to any political subdivision of the said government. These donations shall also be subject to the ordinary rules of deductibility under existing rules and issuances.
These regulations have been effective since March 27, 2020 and shall remain in full force during the three-month effectivity of RA 11469, unless extended or withdrawn by Congress or ended by Presidential Proclamation.
Source:
P&A Grant Thornton
Certified Public Accountants
As published in SunStar Cebu, dated 14 April 2020