Compliance Services in the Philippines
AHC Certified Public Accountants Limited Co. provides Tax and PEZA Compliance Services to local and foreign enterprises in the Philippines. We assist clients in complying with tax regulations imposed by the Bureau of Internal Revenue (BIR) and maintaining their eligibility for tax incentives from the Philippine Economic Zone Authority (PEZA).
Our team of CPAs will assist you in filing and paying your monthly, quarterly and annual tax returns. We will also aid you in sustaining your eligibility for tax holidays by compiling reportorial documents and renewing your PEZA certification.
Businesses in the Philippines are mandated by the government to settle their tax obligations on or before their deadlines. Failure to comply will result in penalties, surcharges, interest and possible criminal prosecution for tax evasion.
Our Tax Compliance Services consist of the following processes:
- Collection of source documents from client prior to the filing of tax returns;
- Preparation and review of BIR form drafts by our Accountants;
- Assessment and completion of tax returns by Account Managers; and
- Filing of BIR forms and payment of taxes to BIR given that the client deposits the funds intended for such purpose.
If you want to acquire access to a comprehensive list of BIR Forms (e.g. Form 1701, Form 2550M, Form 2551Q, etc.) required for completing tax dues, their details and requirements can be found on this page.
Companies can establish their enterprises in PEZA-certified Special Economic Zones (SEZs) to avail of fiscal and non-fiscal incentives from the government. PEZA administers incentives to help businesses reduce tax liabilities and overhead costs.
Fiscal incentives exempt businesses from paying some taxes, local charges, and fees. The following benefits are listed below:
- 4 to 6 years Income Tax Holiday (ITH) with 100% exemption from Corporate Income Tax (for select pioneer or non-pioneer activities);
- 5% Special Tax on Gross Income after ITH expiration;
- 0% Value-Added Tax (VAT) on local purchases of goods and services;
- VAT-free and duty-free importations of capital equipment and machinery; and
- Other fiscal incentives exclusive to specific industries.
Non-fiscal incentives are additional exemptions for local and foreign businesses. Unlike fiscal incentives, they do not provide tax exemptions.
Listed below are the following benefits offered to enterprises:
- Streamlined Import-Export Procedures (Electronic Import Permit System and Automated Export Documentation System);
- Employment of foreign nationals in supervisory, technical or advisory positions;
- Multiple Entry Visa for non-resident foreign nationals; and
- Visa Facilitation Assistance of foreign national’s spouse and dependents under the age of 21.
We also provide a brief summary of our PEZA Compliance Services to help clients identify options that best fit their organization’s needs. This includes the arrangement of reportorial requirements, renewal of PEZA certification for accredited enterprises, request for additional incentives, and application for approval to start commercial operations in the Philippines.
Minimize Tax Liabilities and Maintain Eligibility for Incentives
We are committed to help you maintain your exemption from local taxes and file your corporate tax returns on time to avoid penalties.