-
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.
-
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).
-
Financial statements compilation
We help in the preparation of financial statements of clients in accordance with Philippine Standard on Related Services (PSRS) 4410.
-
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.
-
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.
-
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.
-
Tax advisory
With our knowledge of tax laws and regulations, we help safeguard the substantive and procedural rights of taxpayers and prevent unwarranted assessments.
-
Tax compliance
We aim to minimise the impact of taxation, enabling you to maximise your potential savings and to expand your business.
-
Transfer pricing
We provide comprehensive Transfer Pricing (TP) solutions suited to the needs of the client.
-
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.
-
Tax education and advocacy
We offer seminars and trainings on tax-related developments and special issues of interest to taxpayers.
-
Business risk services
We cover a wide range of solutions that help you identify, address, and monitor the risks of your business.
-
Business consulting services
We help organisations improve their operational performance, efficiency, sustainability, and effectiveness in today’s dynamic business landscape.
-
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.
-
Forensic advisory
We provide support to organisations on dispute resolution, fraud prevention and detection, insurance claims, and other situations requiring detailed investigations.
-
ProActive Hotline
We empower organisations to uphold integrity through safe and anonymous reporting.
-
Sustainability
We promote responsible and innovative practices that reduce our environmental footprint, promote social responsibility, and ensure long-term economic viability
-
P&A Academy
P&A Grant Thornton's unwavering commitment to relevance extends to its learning arm - P&A Academy.
-
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.
-
Payroll Services
We streamline payroll operations with secure, technology-driven solutions that enhance accuracy, ensure compliance, and free organisations to focus on strategic priorities.
-
Human Capital Outsourcing Services
We deliver highly trainable and experienced accounting professionals matched to client requirements, covering center and attrition management, and special projects.
-
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.
-
Global culture
Our people tell us that our global culture is one of the biggest attractions of a career with Grant Thornton.
-
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
-
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.
-
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.
-
In the community
Many Grant Thornton member firms provide a range of inspirational and generous services to the communities they serve.
-
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.
-
Fresh Graduates
Fresh Graduates
-
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.
-
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.
How to apply for estate tax amnesty
20 Jun 2019THE Bureau of Internal Revenue (BIR) has issued Revenue Regulations (RR) No. 6-2019 to provide guidelines for processing estate tax amnesty applications.
Who can avail?
The estate tax amnesty shall cover the estate of a decedent who died on or before Dec. 31, 2017, with or without assessments duly issued thereof, whose estate taxes have remained unpaid or have accrued as of Dec. 31, 2017.
The estate tax amnesty shall exclude the following:
A. Delinquent estate tax liabilities that have become final and executory and those covered by Tax Amnesty on Delinquencies; and
B. Properties involved in cases pending in appropriate courts:
1. Falling under the jurisdiction of the Presidential Commission of Good Government;
2. Involving unexplained or unlawfully acquired wealth under Republic Act (RA) 3019, otherwise known as the Anti-Graft and Corrupt Practices Act, and RA 7080 or an Act Defining and Penalizing the Crime of Plunder;
3. Involving violations of RA 9160, otherwise known as the Anti-Money Laundering Act, as amended;
4. Involving tax evasion and other criminal offenses under Chapter II of Title X of the National Internal Revenue Code of 1997, as amended; and
5. Involving felonies of frauds, illegal exactions and transactions, and malversation of public funds and property under Chapters III and IV of Title VII of the Revised Penal Code.
When do we avail?
The application for estate tax amnesty shall be filed within two years from June 15, 2019 or until June 15, 2021.
How much will it cost?
A rate of six percent shall be imposed on each decedent’s total net taxable estate at the time of death without penalties, at every stage of transfer of property. The minimum estate amnesty tax for the transfer of the estate of each decedent shall be P5,000.
What is the composition and valuation of the gross estate?
The gross estate of a decedent shall be comprised of the properties and interest therein at the time of their death, and such lifetime transfers included in the in the gross estate, as follows:
The gross estate shall be valued based on the fair market value as of the time of death of the decedent. Cash in bank in local or foreign currency shall be based on the peso value of the balance at the date of death, while proprietary shares in any association, recreation or amusement club shall be valued using the bid price on the date of death or nearest the date of death.
What are the deductions allowable to the gross estate?
The gross estate may be reduced by the deductions allowed by the estate tax law applicable at the time of death of the decedent. For a complete list of allowable deductions, please refer to Annex A of RR No. 6-2019.
Who can file?
The estate tax return shall be filed by the executor or administrator, legal heirs, transferees, or beneficiaries of the decedent.
How and where do we file?
The applicant needs to submit the following documentary requirements:
1. Estate Tax Amnesty Return (ETAR);
2. Duly validated Acceptance Payment Form (APF) with the proof of payment; and
3. Other related documentary requirements enumerated in the ETAR.
Depending on the classification of the decedent, the application must be filed with the following offices:
The Certificate of Availment of the Estate Tax Amnesty shall be issued by the concerned RDO within 15 calendar days from the receipt of the application for estate tax amnesty, together with duly validated APF and complete documentary requirements.
What are the benefits?
Upon full compliance with all conditions, the estate tax liability shall be considered settled and the taxpayer shall be immune from the payment of all estate taxes, as well as any increments and additions thereto, arising from the failure to pay any and all estate taxes for taxable year 2017 and prior years, and from all appurtenant civil, criminal, and administrative cases and penalties under the 1997 Tax Code, as amended.
Please be guided accordingly.
SOURCE: P&A GRANT THORNTON
Certified Public Accountants
As published in SunStar Cebu, dated 20 June 2019