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We deliver value-added audit and assurance services to our clients, helping them manage their fiscal responsibilities with prudence and foresight.

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Our audit approach will allow our client's accounting personnel to make the maximum contribution to the audit effort without compromising their ongoing responsibilities
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At P&A Grant Thornton, we provide annual and short period financial statement audit services that go beyond the normal expectations of our clients. We believe strongly that our best work comes from combining outstanding technical expertise, knowledge and ability with exceptional client-focused service.
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A review involves limited investigation with a narrower scope than an audit, and is undertaken for the purpose of providing limited assurance that the management’s representations are in accordance with identified financial reporting standards. Our professionals recognize that in order to conduct a quality financial statement review, it is important to look beyond the accounting entries to the underlying activities and operations that give rise to them.
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We make it a point to keep our clients abreast of the developments and updates relating to the growing complexities in the accounting world. We offer seminars and trainings on audit- and tax-related matters, such as updates on Accounting Standards, new pronouncements and Bureau of Internal Revenue (BIR) issuances, as well as other developments that affect our clients’ businesses.

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We help you identify the opportunities and pitfalls that can significantly affect your...

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With our knowledge of tax laws and audit procedures, we help safeguard the substantive and procedural rights of taxpayers and prevent unwarranted assessments.
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We aim to minimize the impact of taxation, enabling you to maximize your potential savings and to expand your business.
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For clients that want to do business in the Philippines, we assist in determining the appropriate and tax-efficient operating business or investment vehicle and structure to address the objectives of the investor, as well as related incorporation issues.
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Our advocacy work focuses on clarifying the interpretation of laws and regulations, suggesting measures to increasingly ease tax compliance, and protecting taxpayer’s rights.

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We believe there is an optimal solution to every business challenge. Using our Firm's breadth and depth of specialized expertise, we work with you to find...

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Business risk services
Our business risk services cover a wide range of solutions that assist you in identifying, addressing and monitoring risks in your business. Such solutions include external quality assessments of your Internal Audit activities' conformance with standards as well as evaluating its readiness for such an external assessment.
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Our focus is to help you identify and manage the cyber risks you might be facing within your organization. Our team can provide detailed, actionable insight that incorporates industry best practices and standards to strengthen your cybersecurity position and help you make informed decisions.
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We provide solid, first-rate support for your key accounting and administrative activities, such as outsourced accounting, payroll, and accounting-related...

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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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We offer Staff Augmentation services where our staff, under the direction and supervision of the company’s officers, perform accounting and accounting-related work.
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Payroll processing services are provided by P&A Grant Thornton Outsourcing Inc. More and more companies are beginning to realize the benefits of outsourcing their noncore activities, and the first to be outsourced is usually the payroll function. Payroll is easy to carve out from the rest of the business since it is usually independent of the other activities or functions within the Accounting Department.

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If you would like to join Grant Thornton, you may have a few questions about our organisation, how we do business, our culture and our global opportunities....

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By ensuring that our clients are matched with professionals most familiar with their industry, P&A Grant Thornton aims to provide a seamless onboarding...

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Emerging markets and shifting consumer demand are creating new opportunities in food and beverage, with business leaders investing in new products, markets,...

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Energy markets worldwide are undergoing major changes. P&A Grant Thornton can help you understand and navigate ensuing challenges and make sure you have the...

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Optimism is slowly returning to the global economy, but the financial services industry needs to regain the trust of public and private bodies. To truly go...

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Not for profit

Across the globe, not for profit organisations are increasingly expected to deliver more, while at the same time facing cuts in government funding and...

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Outsourcing

The outsourcing industry is one of the fastest growing sectors in the Philippines. Growth in the industry is at an annual average rate of 20%. The industry is...

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Across the globe, countries are moving towards leaner, more commercial, locally focused, and responsive government and public sectors. At P&A Grant Thornton,...

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Opportunity and optimism have emerged within the retail estate and construction industry. At P&A Grant Thornton, it’s our goal to help you benefit from these...

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Dynamic businesses need to move with speed and purpose if they want to capitalise on opportunities in hospitality and tourism. At P&A Grant Thornton, we know...

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Retail industry

With operational cost, price competition, and currency volatility, pressure on profits continues to pile on retailers. Advancements in e-commerce are also...

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Tax Notes

Business Registration via CBP Now Available for Sole Proprietors

22 Jun 20221 min read

Contents

An easier processing of taxpayers’ businesses is now available through the Central Business Portal (CBP). Previously available for corporations and partnerships only, sole proprietors can now experience the smooth online application of businesses as well.

As a project of the Anti-Red Tape Authority (ARTA), in coordination with the Department of Information and Communication Technology (DICT), the CBP caters registration and approval of Business Name with the Department of Trade and Industry (DTI), issuance of Taxpayer Identification Numbers (TINs) to sole proprietors with no existing TINs and the identification of corresponding national revenue taxes, payment of the Annual Registration Fee of five hundred pesos (Php 500.00) and loose Documentary Stamp Tax (DST) of thirty pesos (Php 30.00) electronically, and the subsequent issuance of an electronic Certificate of Registration (COR).

The applicants will then proceed to their Revenue District Office (RDO) to buy BIR Printed Receipts/Invoices or apply for an Authority to Print (ATP) their own receipts/invoices. A BIR officer shall also re-evaluate the registered tax types of the CBP applicant to make certain the accuracy and correctness of the taxpayer’s registration information.

Source:

P&A Grant Thornton

Certified Public Accountants

As published in SunStar Cebu, dated 22 June 2022

Business Registration via CBP Now Available for Sole Proprietors

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Business Registration via CBP Now Available for Sole Proprietors

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