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Audit approach overview
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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Annual and short period audit
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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Review engagement
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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Other Related Services
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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Tax advisory
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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Tax compliance
We aim to minimize the impact of taxation, enabling you to maximize your potential savings and to expand your business.
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Corporate services
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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Tax education and advocacy
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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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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Business consulting services
Our business consulting services are aimed at addressing concerns in your operations, processes and systems. Using our extensive knowledge of various industries, we can take a close look at your business processes as we create solutions that can help you mitigate risks to meet your objectives, promote efficiency, and beef up controls.
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Transaction services
Transaction advisory includes all of our services specifically directed at assisting in investment, mergers and acquisitions, and financing transactions between and among businesses, lenders and governments. Such services include, among others, due diligence reviews, project feasibility studies, financial modelling, model audits and valuation.
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Forensic advisory
Our forensic advisory services include assessing your vulnerability to fraud and identifying fraud risk factors, and recommending practical solutions to eliminate the gaps. We also provide investigative services to detect and quantify fraud and corruption and to trace assets and data that may have been lost in a fraud event.
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Cyber advisory
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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ProActive Hotline
Providing support in preventing and detecting fraud by creating a safe and secure whistleblowing system to promote integrity and honesty in the organisation.
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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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Staff augmentation services
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
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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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.
Updates and Clarifications on the Implementation of VAT on Digital Services
(Revenue Memorandum Circular Nos. 047-2025, 52-2025 and 58-2025, Revenue Memorandum Order No. 13-2025)
This Tax Alert is issued to inform all concerned on the clarifications and updates on the implementation of VAT on digital services pursuant to Republic Act (RA) No. 12023, as implemented by Revenue Regulation (RR) No. 3-2025.
Pursuant to RR No. 03-2025, digital services consumed in the Philippines are subject to 12% VAT effective June 2, 2025. While registration or updating of registration of Non-resident digital service providers (NRDSPs) is extended until July 1, 2025.
Registration Requirement for Non-resident digital service providers (NRDSPs)
i. All NRDSPs with Business-to-Business (B2B) and/or Business-to-Consumer (B2C) transactions are required to register with the BIR.
ii. Registration shall be made through the VAT on Digital Services (VDS) Portal once available. In the meantime, NRDSPs or their appointed resident third-party service providers can register through the Online Registration and Update System (ORUS). Manual registration may likewise be done with the BIR Revenue District Office No. 39 – Quezon City if the NRDSP has its local representative.
iii. The NRDSPs shall register with the BIR on or before July 1, 2025.
iv. The following information shall be provided by the NRDSP during registration via ORUS:
a. Name of business entity, including trade name;
b. Name of the authorized representative, and Taxpayer Identification Number (TIN) in case of local authorized representative, responsible for tax administration, if any;
c. Registered foreign address; and
d. Contact information of the NRDSP (e.g., Contact number, email address).
Any official registration document issued by an authorized government regulatory body (e.g., Securities and Exchange Commission, tax authority) in the country where NRDSP was incorporated or organized (e.g., Articles of Incorporation, Certificate of Tax Residency) that includes the name of the NRDSP shall be sufficient for the registration.
NRDSPs do not need a local representative in the Philippines to register with the BIR. However, an NRDSP may appoint a resident third-party service provider (an individual or entity, such as a law firm or accounting firm) for purposes of registration, filing of tax return and payment of taxes, receiving notices, record keeping, and other reporting obligations. The appointment of a resident third-party service provider shall not classify the NRDSP as a resident foreign corporation doing business in the Philippines.
During registration, the NRDSP shall select VAT as its tax type. A BIR Certificate of Registration (COR)/BIR Form No. 2303 containing the assigned TIN and other registration details shall be issued to the NRDSP, which shall be used in the filing of VAT returns, and remittance of VAT, if any, to the BIR.
An NRDSP which fails to register for VAT shall be imposed with applicable penalties under Section 13 of RR No. 3-2025, and suspension of its business operations under Section 12 of the same Regulations, if warranted.
Invoicing, Remittance of VAT and Filing of VAT Returns
The following are the VAT Treatment and compliance requirements for the following transactions:
A. B2B and B2C transactions of Non-resident VAT Registered DSP
The following mechanisms in the remittance of VAT on digital services shall be observed by DSPs acting as an online marketplace or e-marketplace of resident and non-resident sellers. A DSP can be considered an e-marketplace if it controls the key aspects of the supply and performs any of the following:
- It sets directly or indirectly any of the terms and conditions under which the supply of digital services is made; or
- It is involved in the ordering or delivery of digital services whether directly or indirectly
B. B2B and B2C transactions of DSP acting as Non-resident e-marketplace For Resident/Non-resident Suppliers
C. B2B and B2C transactions of DSP acting as Resident e-marketplace for Non-resident Supplier
For sale of NDRSP generated through e-marketplace but paid directly to the NRDSP, the e-marketplace is not liable to remit the VAT on the sale. However, the service fee for availing the online platform/marketplace shall be subject to VAT.
NRDSP may verify if the buyer is engaged in business in the Philippines for VAT purposes through the following means:
1. Obtaining the buyer’s TIN;
2. Providing a questionnaire or tick box in their website/platforms; and/or
3. Request for other business registration documents (e.g. BIR COR).
The Philippine business customers/buyers may use the filed and paid BIR Form 1600-VT as proof of input VAT claim from purchases of digital services from NRDSPs.
Tax Return for VAT on Digital Services
Copy of the Value-Added Tax (VAT) Return For Nonresident Digital Service Provider (BIR Form 2550-DS) is available in the BIR website (2550-DS Jan 2025 version_Folio.pdf). Pursuant to RMC 52-2025, A separate revenue issuance shall be issued on the manner and guidelines for the filing and payment of VAT on Digital Services as implemented by RR No. 3-2025.
Invoicing Requirements
There is no prescribed form for the invoice to be issued by NRDSPs as long as the following mandatory information are present:
1. Date of the transaction
2. Transaction Reference Number
3. Identification of the consumer (including the TIN for B2B)
4. Brief description of the transaction
5. The total amount with the indication that such amount includes VAT
For B2B transactions, the VAT amount must be clearly stated on the invoice issued by the NRDSP. If in case such amount cannot be clearly stated, a footnote or annotation must be included indicating that the Philippine consumer/buyer is responsible for accounting and remitting the 12% VAT due on the transaction to the BIR.
Erroneous Remittance of VAT by NRDSP
In case the NRDSP paid the corresponding VAT to the BIR, but the Philippine Consumer has already paid the withholding VAT, the NRDSP cannot file for a refund but may amend the filed BIR Form 2550-DS showing the overpayment which may be carried-over to the succeeding quarter/s.
VAT Exempt Transactions
a. For educational institutions with subscription-based services, it shall only present to the DSP the accreditation/recognition from DepED, CHED, and TESDA in order to avail the VAT exemption. There is no need to secure the Certificate of Tax Exemption from BIR.
b. Purchases of digital services which are directly attributable to registered activity or export activity of qualified Registered Business Enterprises (RBEs) and Export Oriented Enterprises (EOEs) with Certification issued by the Investment Promotion Agencies (IPAs) or DTI shall not be subject to 12% VAT.
Shared Cost Charged to Philippine Subsidiary
In cases where the contracting party of the NRDSP is outside the Philippines (e.g., in the US) and the US entity shares costs with different markets (including subsidiaries in the Philippines), the Philippine subsidiary shall be responsible in withholding and remitting to the BIR the VAT due on the shared cost for digital services consumed in the Philippines as a B2B transaction.
Transitory Provision
Digital services rendered effective June 2, 2025 shall be subject to VAT by the NRDSP even if the buyer already paid the full contract price in advance without including the 12% VAT. NDRSP shall remit the VAT to the BIR since the buyer no longer has control over the payment.